Chartguy weekly update on Cannabis stocks A few stocks on his weekly update. The Hiti segment starts at the 20:50 part.
He is very upbeat on this sector based on the Friday volumes across the sector. It's a combination of 2 items:
1. Kamala rountable discussion on Friday forcing reform approvals.
2. Rumours in full swing that DEA approval is coming by end of April at the latest.
Where chart guy got his info wrong is he thought the huge spikes in volume in Hiti on Friday was based on the Hiti ER. Hiti did not report till after markets closed so that was not it. It was based on something more. Perhaps the overall market sector sentiment imo. If that's the case then the market has not yet priced in the good ER of which breakeven profit was the importsnt factor plus we still moved up 1 percent in revenues sequentially when many other companies had declining sales who reported already.
We will find out tomorrow what the market thinks of the Q1 ER and the Raj conference call tomorrow morning at 11:30 am EST. to discuss the ER. We could get a very good and extended pop again. Money could start moving out of overpriced and overextended Nasdaq big 5 stocks and finally move into the unloved but very cheap MJ companies. We are long overdue here. The video from Chartguy below.
https://stkt.co/tMHvGr2Z