TLRY: Today's actionAs everyone knows "news moves the market", the DEA delaying the cannabis rescheduling vote to after the election likely resulted in many of those folks who are not willing to wait that long to sell.
Behind the scenes this is what happened
- volume hit 222% of average
- apx 4 million shares were bought by those who sold short
- total short position dropped by apx 4 to 5%
- shareprice increased slightly in afterhours on the US side as short covers executed.
I suggested earlier that everyone understand the difference between a short position and a long position. I had also suggested that everyone understand what the short cover process, even if you strictly hold Long. I certainly hope everyone did that as I'm not going to sit here on my couch and tap that all out on my phone.
As noted, I run an averaging strategy and I am also holding for US legalization (as a minimum). Whenever the Fed delays. I simply accept that I'm patiently waiting a little longer.
I shared the short report links earlier, trusting everyone bookmarked those.
Best Regards
Q