Clever Leaves Holdings Inc (CLVR)

[kahlua]

In terms of the float, recently Kyle stated in an interview it was around 8.3M prior to the PIPE lockup expiry. PIPE was around 1M shares so my estimate is a current float around 9.3M. I believe fintel has that detail wrong. I had a look at a few other sector leaders and the short volume ratio is almost identical to CLVR in the 25 to 30% range, so this clearly is a sector bet.

Yields on the 10 year have backed off but clearly macro trends are in major flux going forward with this 1.9T sloshing around. CLVR is completely wedded to the sector along with whether the growth/mo-mo trade is in risk on or risk off status. Hopefully CLVR starts to deliver big contract announcements and separate itself from the pack but until then the shorts will continue selling into every rally frustrating the longs in a big way. Best case scenario is the recent 10 support test holds and slowly the stock is able to climb higher and clear the many resistance zones on the chart with some positive NRs and perhaps this Mexico legalization news helps as well.