Let's not forget that there are several million warrants out at 85 cents up in 2020, even if you don't believe in this company the opportunity to trade wisely within the channel should be hard to resist. Personally, I love the XLY business model and am long on this one but you better believe I am taking advantage of these chances to add to my upside.
The danger in trying to take advantage of these small runs is we are now just over a month away from when the announcements will come to determine whether or not XLY's two wholly owned subsidiaries are granted licenses to participate in Canada's concentrate/edibles market. If this is in fact a run in that direction, offing half my position will feel less than fantastic but I am protected by the length of the run to come (we are over a month out).
Given the look of the and on the current , there is no way I believe that a run all the way up to announcement day is in the cards. If it is, there will certainly be another buying opportunity between now and then when the hits the ceiling and bounces off.
Sold $0.68 (order at $0.74 didn't fill and it dropped fast)
Looking for rebuy... So far this channel has been key...
I hope someone else out there is playing along!
This has been a great ride so far, and on a stock that is trending down!