From Joe Cotton THIS COULD BE AN INTERESTING WEEK
The second Stock Pick is Tilray. Inc. (TLRY) $8.56. This is a “Pot” stock. Tilray merged with Aphria on May 3, 2021, to create the world’s largest cannabis company.
The new company continues to trade under the TLRY stock symbol. All of the major pot stocks soared last week on news that the U.S. Congress passed a piece of legislation supporting marijuana research, and more significantly, will be holding a floor vote on the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act next week.
The House of Representatives previously passed that legislation but it stalled in the Senate.
The stock is ripe for a short squeeze — if you look at the chart, you can see that in October of 2020, the stock moved from $5.00/Sh to over $65.00/Sh in just 4 months – due to a short squeeze. Back then it had a very small float (shares available to trade). The float is much higher now – 447.82 Million shares, but also has 65.84 Million shares Short — per Finance.yahoo.com which is 13.97% of the float, as of March 15th, 2022. That’s a large percentage of the float, especially if the stock is selling at the low end of its trading range. I’m sure the shorts are terrified — the stock traded 450,000,000 shares in the last 3 days, equal to its total float outstanding. If the Reddit Boys get involved, the stock could easily go to $40. I could use the money.
I began buying the stock at $5.53 on March 18 and bought more on March 23 at about $6.20, and was lucky enough to buy more on March 24 at $6.57 just as it was exploding to the upside – to double my position. We don’t plan to sell either of these stocks until they get a whole lot higher.
Joe Cotton has won 3 National Stock Picking Contests with yearly percentage gains in excess of 96%. His 2020 Wall Street’s Best stock contest winner was Inovio Pharmaceuticals (Symbol INO) with a 742% 1-Year return.
Joe Cotton has won three National Stock Picking Contests with yearly percentage gains in excess of 96%. His 2020 Wall Street’s Best stock contest winner was Inovio Pharmaceuticals (Symbol INO) with a 742% 1-Year return.
This article is not investment advice, nor is it in any way to be construed as investment advice. For Investment Advice consult a Registered Investment Advisor or a Certified Financial Planner. Joe Cotton’s website is www.cottonstocks.net. NKY’s Joseph W. Cotton is publisher of the market newsletter, Cotton’s Technically Speaking. He is a graduate of Xavier University, a former bank manager and credit analyst, and a former Fidelity Investments registered investment representative. Contact him at cottonstocks@hotmail.com
The second Stock Pick is Tilray. Inc. (TLRY) $8.56. This is a “Pot” stock. Tilray merged with Aphria on May 3, 2021, to create the world’s largest cannabis company.
The new company continues to trade under the TLRY stock symbol. All of the major pot stocks soared last week on news that the U.S. Congress passed a piece of legislation supporting marijuana research, and more significantly, will be holding a floor vote on the Marijuana Opportunity, Reinvestment, and Expungement (MORE) Act next week.
The House of Representatives previously passed that legislation but it stalled in the Senate.
The stock is ripe for a short squeeze — if you look at the chart, you can see that in October of 2020, the stock moved from $5.00/Sh to over $65.00/Sh in just 4 months – due to a short squeeze. Back then it had a very small float (shares available to trade). The float is much higher now – 447.82 Million shares, but also has 65.84 Million shares Short — per Finance.yahoo.com which is 13.97% of the float, as of March 15th, 2022. That’s a large percentage of the float, especially if the stock is selling at the low end of its trading range. I’m sure the shorts are terrified — the stock traded 450,000,000 shares in the last 3 days, equal to its total float outstanding. If the Reddit Boys get involved, the stock could easily go to $40. I could use the money.
I began buying the stock at $5.53 on March 18 and bought more on March 23 at about $6.20, and was lucky enough to buy more on March 24 at $6.57 just as it was exploding to the upside – to double my position. We don’t plan to sell either of these stocks until they get a whole lot higher.
Joe Cotton has won 3 National Stock Picking Contests with yearly percentage gains in excess of 96%. His 2020 Wall Street’s Best stock contest winner was Inovio Pharmaceuticals (Symbol INO) with a 742% 1-Year return.
Joe Cotton has won three National Stock Picking Contests with yearly percentage gains in excess of 96%. His 2020 Wall Street’s Best stock contest winner was Inovio Pharmaceuticals (Symbol INO) with a 742% 1-Year return.
This article is not investment advice, nor is it in any way to be construed as investment advice. For Investment Advice consult a Registered Investment Advisor or a Certified Financial Planner. Joe Cotton’s website is www.cottonstocks.net. NKY’s Joseph W. Cotton is publisher of the market newsletter, Cotton’s Technically Speaking. He is a graduate of Xavier University, a former bank manager and credit analyst, and a former Fidelity Investments registered investment representative. Contact him at cottonstocks@hotmail.com