RE:So much for the bullish reversalI see absolutely nothing that suggests this stock will stablilize at current levels. With that, I fully expect this to break back down into the teens. If the overall market sours, and it is certainly well past due for that, this stock will get clobbered as it tends to attrract faster money, making the continued downhill slide both quicker and more painful.
I maintain that this stock is completely DEAD MONEY.
Ghostinthedark wrote: just way too much shorting.
As I have said for 3 weeks, Weed has a major support at $19.4...,a low last October 2020.
In other words, if you are using the buy and hold strategy, you'd break even....
I sure hope people sold at $70, when the was "a blow off top, and a downtrend of 7 months and counting.
Today, weed hit another lower low,
Look for the stock to bottom, trade in a range (accimulation) and a bullish reversal at some point.
Unfortunately, Weed is still a "falling knife." And you cannot catch a falling knife, unless you want to gamble, likely end up a "bag man."
I am still waiting to buy...