nibbling on the ear of CPNG coupang south korean ecommerce near 1x sales on anything gets me interested.
the money bleeading is slowing down.
share count still rising a little.
close to break even.
has a positive tangible book.
3.8 billion in cash and equivalents.
ill start to nibble and watch.
small size small risk. tiny position. will see how market plays out month by month.
looking for 20% growers to buy this year and next for the next 2 decades.
Growers
Sundial Growers sinking further. SNDLWe broke the floor with the latest candlestick. This means we are going even lower. I am taking Wave C of the latest zigzag to estimate how low, while taking conservative estimates. Anyway, picture overall for a bearish outlook here.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
SNDL / Sundial Growers / Technical/fundamental analysis 30/11/20Long @ 0.399 / 2k shares
Fundamental aspect of trade
CALGARY, AB, Nov. 30, 2020 /PRNewswire/ - Sundial Growers Inc. (NASDAQ: SNDL) ("Sundial" or the "Company") provides an update on the elimination of its senior secured second lien convertible notes and further improvements to its balance sheet.
Yesterday the company announced update of eliminating its debt and the chart has reacted positively. Its debt has been reduced significantly over past year.
Company has decent amount of cash (60M CAD) and has succesfully pursued transition from wholesale into branded sales. Long term outlook for profitability after recent ER is bullish for me. Focus on shareholder value and improving price.
Techical aspect of the trade
The price has been climbing premarket and then dropped into .48 - .49 before market opening. We saw a bear trap formed and then a big ascend to .70 - .85, then consolidating on .70. Price in German stock market traded on early Tuesday morning, 1.12.2020 indicates .79 to .85 price range after converted to USD. The price reacts to upcoming legalization bill vote in US House of Representatives, then by Senate. Other cannabis stocks are showing similiar moves. Chart is witnessing extreme volume - over 2 billion shares were traded intraday on 30th of November. Liquidity on pennystocks is the main driver for my trades. Fintel shows some very interesting names among institutional holders.