I agree its never going back to $1. The pretend longs are brain washing naive longs to not sell until $1 or higher, but they will be the first ones taking money off the table at .50 cents or lower. Some are finally starting to admit that they have been trading!
It wouldn't be surprising if we sell off on the day of UK approval. Pretty much all longs are expecting UK approval this month, so one could argue the price may be baked in. On the other hand, shorts have been pushing the narrative that UK will not approve. So one also could argue that approval is not baked in. Plus the price has been pushed down quite a bit prior to approval, so it’s more likely to go up rather than down on the approval news.
Nevertheless, it will be interesting to see how the markets react. It will in all likelihood depend on what cards LP holds and how the catalysts are disseminated. If I were a betting man, I would bet against LP given the decade long history of disappointments.
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