Knee Jerk=Green day Monday Honestly, I believe Red Friday was a knee jerk reaction. Could have been worse or less if the US market was open for the remainder of the day. Volume very low. Nice that we have had the weekend for Wall Street to mull over the new variant.
Having said that, Cannabis is a lock down necessity and Sales surged in the last one.Cannabis stocks didn't do much though, as numbers weren't in yet. But, now we know cannabis/alcohol surge in lockdowns.
"Canadians bought $1.86 billion more in alcohol than expected based on pre-pandemic trends. Cannabis sales, meanwhile, were $811 million higher than predictions."
According to the White House, no lock downs are coming. That was Monday, be interesting what they say now. Also, these European countries had already announced lockdowns prior to Red Friday and the new variant.
White House says U.S. will not lock down to fight Covid as European nations implement restrictions
https://www.cnbc.com/amp/2021/11/22/white-house-says-no-covid-lockdowns-as-european-nations-implement-restrictions.html?recirc=taboolainternal
Monday, a little correction to the upside and then business as usual.
Cheers,
V