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I don't want to jinx it, but this stock has been holding support like a champ.
I don't know. Sometimes the charts don't show you anything. Right now, the only thing I can tell you is to have a stop loss around $118.
where do you see this going...?
IF, this goes back to $118.25 and looks like it will hold, I'll add much more.
THIS may be the moment to be buying GWPH. It is holding the support for the week so far. ...just bought back in.
GWPH is the only cannabis stock I consider legit. Wouldn't touch the others personally.
Pretty, pretty, pretty close.
GW heavily shorted...
Cannabis Short Sellers Down $641M In May
After netting nearly $1 billion in profits in 2019, cannabis short sellers got off to a strong start in 2020 as well. However, cannabis stocks have taken off in recent weeks, and cannabis short sellers are feeling the pain.
Here are the five most heavily shorted cannabis stocks today by short interest, according to S3:
Canopy Growth Corp (NYSE: CGC), $913.7 million.
GW Pharmaceuticals PLC (NASDAQ: GWPH), $656.1 million.
Aurora Cannabis Inc (NYSE: ACB), $186.8 million.
Cronos Group Inc (NASDAQ: CRON), $307.3 million.
Aphria Inc (NYSE: APHA), $143.5 million.
Dusaniwsky said traders looking for the most likely short squeeze candidates should focus on stocks with the highest borrow fees that have generated the biggest losses for short sellers year to date.
“Mark-to-market losses coupled with rising stock borrow rates are priming the pump for potential short squeezes in several cannabis stocks,” Dusaniwsky wrote.
https://finance.yahoo.com/news/cannabis-short-sellers-down-641m-142656940.html
LOL, until tomorrow. The tricky part about investing is, you can be a genius one day and a bum the next.
thanks, helps a lot... it hit 125.17 today, but bounced back, and is now 122.73 ... I have patience to ride along with this...
I exited at $124.10 your the man!
Resistance currently at $124.60. The stock has hit today $123.78, which is pretty danged close.
So my thoughts are, can't say yet. The last peak was $132.05, so I'd want to see it top that before becoming too bullish. I know people want to buy cheap and ride the wave up, but that's not how I invest. I'd rather wait to see the breakout, possibly miss some upside, but have a better chance of success.
Sorry if this doesn't help more.
thanks, fung_derf.... your analysis has been so many times so spot on... investors now keen on bio-tech and healthcare.... is this going back to previous heights...?
Well, it broke through short term resistance today as I suspected it would. However, $125 will be the biggie.
good post... I am fond of honest folk... I am holding here for the long term...
How can one trust my opinions on stocks if I'm caught lying about my trades?
I am one of the few on IHUB with no agenda other than to give my opinions.
I like your honesty
OK, just checked my trading history here. I have traded this stock now 16 times in 3 1/2 years (I'm not typically a trader so this must be my record). I am net a -$175 overall.
So don't listen to me on this stock. I'm befuddled. I notice I have several 30% gains and 25% losses.
Edit: OK, the above numbers can't be right because from checking this board, I actually first bought the stock in 2013 at $23.50. Guess it WAS a long term hold stock. Screw me!
Must we agree? I'd like to abstain from disagreeing.
We can agree to disagree.
The one thing I'd say about this stock is that it is NOT a long term hold stock. This is one of the crazier swing stocks I've ever followed.
So let’s see. Beats estimates and is thissss close to being profitable. If 2nd quarter is flat as was stated on the earnings call, and assuming most commercial expenditures are drastically reduced for all of Q2 (at least in the US), then I expect the company becomes profitable in Q2.
Next, drug was descheduled at a federal level, waiting on states to follow and payers will likely lessen coverage restrictions at the very least with refills.
Next TSC approval by end of July “effectively doubling patient popultation” for approved indications.
Next Sativex is a pipeline in a drug, but sounds like trial enrollment is delayed until 2nd half 2020. Fine.
Sure there will be volatility over next several months due to world events, but damn, this is a great long term hold with an eventual buy out.
GLTA
I think I'm going to let the news soak a few days and see where it is at. The overall market today was not very good.
It may actually go to $124 now, but I'm not that greedy. I'm out for an avg price of $116.30. Bought it at $101.45 in March.
Now, on to the next big thing.
DOCU is screaming at me if it would just pull back a bit to get in.
sell. Thank you.
Unfazed by Covid19. The company says it is coping well and remains pretty much on track. The first profit cannot be far off
FUNG, They just delivered a beat! We should get to $112 - 115 tomorrow. Whats the next move?
It's getting close to resistance. Someone yell at me when it hits $117.
Why not take some of that "yacht" money, and buy a membership here? Seems you could use the chart help. Looks to me like this stock re-test resistance around $117 first.
Yes I may be a dreamer but at least I am enjoying the sunshine right now on my Yacht. I hope gwph gets you where you want to be tomorrow morning.
glty
It’s nice to dream:)
This is still far to expensive so I will consider buying under 20.
Based on everything I'm seeing from this chart, the stock should get to $114. After that.....I dunno.
On Monday, April 6, GW Pharmaceuticals revealed that the company had received notice from the U.S. Drug Enforcement Administration (“DEA”) stating that its drug Epidiolex was no longer subject to the requirements of the Controlled Substances Act (“CSA”).
In a company release announcing the agency decision, GW CEO Justin Gover stated, “This notification from DEA fully establishes that Epidiolex, the only CBD medicine approved by the Food and Drug Administration, is no longer a controlled substance under the federal Controlled Substances Act.”
DEA Removes CBD from Controlled Substances Act
https://www.jdsupra.com/legalnews/dea-removes-cbd-from-controlled-71065/
Excellent news, this will further remove restrictions to dispensing the drug.
More good news today. The company stays on track and everything under its control seems to turn out well.
It's only funny if you cannot appreciate the pre-COVID-19 record low unemployment POTUS delivered. Laugh away...
quiet, I'm listening to the orange buffoon lay down some knowledge and watching the market tank some more
Hey, it cupped, but it did not handle.
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GWPH Analyst Stock Ratings:
Citigroup - Target Cut from $97 to $86 - 6/30/14
Morgan Stanley - Overweight - $103 - 5/19/14 (Restated) 4/22/14 (Initiated)
Bank of America - Buy - $110 - 3/11/14
Piper Jaffray - Overweight - $147 - 6/30/14
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