Another shite storm today OGI earnings tanked almost 50% from prior quarter---from $23million to $14...million
The sector is in freefall, as fear and panic has replaced irrational exuberance.
Recall the the share price of APHA only 8 weeks ago??? $40...plus
thats $24 a share..
OGI...$8, and now pre-market, the stock is $3.00
how about VFF, the darling of the sectoe with positive EPS, down from $24 to $13.84 premarket ---that's $10 a share
the pot sector is hugely manipulated by daytraders who go long and then short, by smart money, and ny the computer algos----after first hour of trading, for the rest of the morning and into the afternoon, the algos manipulate the share price up and down...
The entire sector is a falling knife.
APHA, the best pot stock to own long-term, will break below a major support of $16.99, based on the pre-market share price ( I realize this could change, but premarket provides a good indication of investor sentiment..)
Next major support for APHA, as indicated by the cabdlestick chart on the daily time frame is
$15.23!!!!
We have a falling knife for all pot stocks.
why??? Brutal earnings.