Updated
Cannabis accumulation zone
Even though this can still very much go lower. All shorts have been closed except for a few straggling puts. I would be looking to start building a position from here all the way down to 2.50$ if it were to go that low (still possible assuming it doesn't go bankrupt). They made the right moves by cutting their workforce and capital expenditure to increase survivability.
Note
Note
From the dead cat bounce to 20$ to another 50% drawdown, the price of this stock is starting to look attractive again. Important to remember this could still easily drop another 50%. invest conservatively and with a long term time frame.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.