Hello bulls,
This one is a short-term play and can't much be said about it.
After CMPS crushed, price dropped to 12$ and then due to Macro economical panic, crabbed around 11$.
This is good that it's crabbing around 11$ because the next steps are the slow stairs to the 15$.
Volume on last hour of December 3 indicates strong interest in 10.5-11$, meaning any further panic would just keep crabbing the stock.
In my opinion, if the stock doesn't close at 13$ by end of December, sell. Because it will not be a short-term swing anymore.
My average is 12$, stop loss at 10$.
Pros:
-Exposure to ATAI assets: 400M cash, 21% stake in CMPS and it's own proper research and development pipeline
-Lower the price, higher interest to invest by Dealers or keep their assets protected from too much price fluctuation downward.
-Correlation to the Psychedelic sector, specifically CMPS trend.
Cons:
-No Revenue to backup FA, only assets.
-Can't sustain price floor above 11.5$ theses last 3 weeks of bloodbath. Let's hope confidence will be coming back.
-Long term not recommended since the company burns cash per quarter. Unless you are investing in speculation.
Overall, ATAI resisting to the panic better than BABA.
This is not a financial advise and risk should be always taken in count before trading.
Take care!
This one is a short-term play and can't much be said about it.
After CMPS crushed, price dropped to 12$ and then due to Macro economical panic, crabbed around 11$.
This is good that it's crabbing around 11$ because the next steps are the slow stairs to the 15$.
Volume on last hour of December 3 indicates strong interest in 10.5-11$, meaning any further panic would just keep crabbing the stock.
In my opinion, if the stock doesn't close at 13$ by end of December, sell. Because it will not be a short-term swing anymore.
My average is 12$, stop loss at 10$.
Pros:
-Exposure to ATAI assets: 400M cash, 21% stake in CMPS and it's own proper research and development pipeline
-Lower the price, higher interest to invest by Dealers or keep their assets protected from too much price fluctuation downward.
-Correlation to the Psychedelic sector, specifically CMPS trend.
Cons:
-No Revenue to backup FA, only assets.
-Can't sustain price floor above 11.5$ theses last 3 weeks of bloodbath. Let's hope confidence will be coming back.
-Long term not recommended since the company burns cash per quarter. Unless you are investing in speculation.
Overall, ATAI resisting to the panic better than BABA.
This is not a financial advise and risk should be always taken in count before trading.
Take care!