The rally SGMD just had was artificial. It was caused by market makers. That high volume was seen across the sector, in more than 50% of cannabis stocks. Many stocks completely left out and still at their bottoms, some going even lower, probably from people pulling their money to put in the ones that are/were moving. I've said this before and I'll say it again, and again in the future, it's no coincidence that half the cannabis stocks move at the same time and have similar-looking charts. SGMD is no exception, it moved exactly the same time and got massive volume just like some others. However, not all the volume was from market makers, of course. This company has great things going on and was chosen to rally for reasons. But at the same time, still, most of the volume was from market makers and they brought the price down, now we are at more normal volume levels that seems to be decreasing.
I believe we will trade in a sideways-ish range until market makers return to bring us to new highs.
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