Reitmans Ord Shs V.RET

Is RET.A setting up for a breakout?

[TheCount11]

My guess is yes as stocks at their 52 week highs tend to attract traders. 

As a value investor who buys low and sells high it is interesting to watch other investors that buy high and sell higher.

There is no doubt that momentum investing works.  There is always a reason stocks are at their 52 week highs.  You or I might not agree but its the marginal buyer and seller setting price.  The bid for RET is now $3 and above meaning the psycological resistance of $3 is broken.  Its likely soon an air pocket will be hit and stock goes well above $3.  Any thoughts?

[filoux004]

Absolutely right,  as we walk up the staircase from value to fomo, hesitation happens at each 1$  ..1 2 now 3 , so expect some posturing 2.95 - 3.05 but with a balance sheet with 56M cash and a small line credit with BMO and revs of 700M and EPS of .76 some institution will blink very soon. This is the turnaround story of 2022-23. There is not one  institution that doesn't know

[tomperns]

Agree with everything you say, but I would add that cash is probably nearing $100M by end of Jan that is their fiscal year also. TSX listing is a must. I don't see dividend in 2023. $5 in 2023 is very likely.

[Northforce13]

"There is not one  institution that doesn't know the name or haven't met the Reitman family" The latter part of that statement seems dubious in light of Reitman's recent FP interview in which he stated that he hadn't done an interview in > 32 years.

[filoux004]

My point is the Reitman family is a well known entity in the financial circles. And institutions are well aware of the near death saga on the last two years. Like I've said this is the turnaround story of 2022-23. Please DD and Glta. 

[filoux004]

Point being, not withstanding the Macro background find me another name with a better balance sheet , earnings power and low mkt cap? Feedback much appreciated. DD and glta In fact names will be beneficial to all. Thanks

[TheCount11]

Agreed.  What I find interesting are the traders all with short time horizons from day traders to swing traders who hold for half a year that don't obsess over fundamentals. Some value investors worrying about economy sold out in Decemeber at $2.30 and missed the massive run up to $3.  Year to Oct 29, 2022 the Earnings Per Share was $1.03.  Traders don't even care that the

[pennylane101]

Sucks if you sell at $3 and it immediately goes to $6 or higher.  Them's the breaks.  

[pennylane101]

And then... management decides to declare a 20 cent quarterly dividend.  Okay, I'm dreaming but 5 cents is not unreasonable after a long dry spell.  I'm long and strong!

[YupnDump]

l dumped my ROOT and used the $$$ to buy into RET.A.glad l did .