I'll stick my neck outMaking personal calls about the market always comes with associated risks, but I did it for a living and I have no qualms about this one.
Personally, I'm convinced this stock is on the cusp of a big move.
I also think that the market has been advertising it for several weeks, with the stock having made higher lows for the last month.
From $1.73 to $1.84 to $1.95 in the last month, to be precise.
Forget the analysts, the market itself is the best analyst of all, the only one that counts, and it updates its research every day for everyone to "read".
Exro matched its highest yearly close yesterday, having closed at $2.13 twice before, both times in the last month.
Personally, I think this move higher is more sustainable. When it closed at $2.13 on January 17th, it had come off its daily low at $1.80... It was s t r e t c h e d. Yesterday it closed at $2.13 up from a low at $1.98. It was far more relaxed.
The volume yesterday was 57% higher than its average 50-day volume, and 97% higher than its average 30-day volume, which is pretty sweet on a Friday. I already noted the volume between 11:00am and 1:30pm here yesterday.
This board is remarkably subdued considering what the market is telling us, which is a good thing.
There is no sign at all of Allan Greenspan's "irrational exuberance".
Exro was the 5th largest percentage gainer in Toronto yesterday.
On Wednesday, the 52-week high on your quote screen will be $2.24, the high trade on November 28th, but only on the condition that Exro doesn't trade higher than $2.24 before Wednesday, which is probably a tenuous assumption. It's only eleven cents away.
When the stock shows up on a list of new 52-week highs, it will attract a lot of attention. If money managers and portfolio managers miss it, the algorithms won't.
Exro will join an exclusive club. There aren't very many stocks making new highs these days.
I don't profess to be Nostradamus or to have a crystal ball, and I readily admit I've made a few bad mistakes in my career, some of which would probably make yours pale in comparison, but the long and the short of it is that I'm convinced that this stock is going to surprise a cohort of shareholders here in the very near future.
In my mind, there's absolutely no question that people holding this stock are going to do very well.