Since October 30, the Canadian Marijuana Index (tracking a selection / pool of LPs, if you are unfamiliar) has dropped over 17%. It is an imperfect generalized measure of the cannabis sector, but is informative in that it is somewhat indicative of how well the space is performing (through averaging a selection of LPs)... and it is easier to use for a post like this.
What it tells us, is that LPs are down (or even down significantly)... and keep breaking supports into lower lows.
In that same time, guess how much Eve has dropped?
Net, 0%.
Is it a floor (support)? Possibly. While everyone else keeps bleeding, Eve bounced up from $0.165 to $0.215, then dropped back to $0.165, but has technically held.
You can look at this negatively or positively... spin as a bash or leverage for a pump... or simply use it as insight into the action of Eve as a stock, as a feed-in to your analysis. Your call.
This is simply a fact. It can be an interesting piece of data, when analyzing.
If I took out the name "Eve", and simply told you that there was one particular stock that held its support in the last couple of weeks, despite what is happening with others (like Aurora and Canopy, amidst a sea of others in the red), wouldn't you be interested in which stock that was, and find that to be a something of a positive for whatever stock that was?
We all get too caught up in the daily... if you are long it's not a straight line, it's how it looks an average. Of course things aren't ideal right now (it looks a bit dreary actually), it has plunged, and I would prefer to be at a support of $0.35 (where the MMCAP warrants still sit waiting in limbo)... or up near the Haywood warrants... or heck, anywhere north of where we are!?. But if HC approval comes and Germany happens, man, this stock is going to do better... revenue alone will be way above the current cap if that transpires.
It is the risk of the investment that all of these positive things won't happen, but the reward if they do? That would be the only reason to invest into a venture, into a new market sector, right? The risk / reward element.
And if we really do set a support at $0.165, HC approval comes through, and Eve executes well thereafter... then this stock could have great potential to move away from this floor and into the future.
PS... always the caveat... Eve can get worse, that is ALWAYS a potentiality. Don't kid yourself. But I am still long, with risk and reward assumed into things for me (and me alone).
Have a good weekend all.
Peace, long Eve.