Replies to post #5795 on GW Pharmaceuticals Plc ADS (GWPH)

[Cosa]

I exited at $124.10 your the man!

[john1311]

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...

[john1311]

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

[fung_derf]

Pretty, pretty, pretty close.

fung_derf
Tuesday, 05/19/20 11:04:44 AM
Re: john1311 post# 5794
0
Post # of 5801

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.