De-SPACs often thrive for a little post-merger and then plummet below $10. I do not think Black Rifle Coffee Company ( BRCC ) will escape this fate. While it is possible it could go higher from its current level ($18.50, 2/26/2022), I see it eventually filling the gap below (between $12.38 and $13.55) and then going below $10. Bearish divergence already started...
why you never argue with price! had two great buys on BRCC.. sold some into strength several times.. then only a small small pos left and was stopped out just above my avg cost.. and in the back of my mind was.. well this was a good spot for it to get supported and the institutions to come back in and buy up more shares. maybe i should have held on to some......
Possible Scenario: Long
Evidence: Price Action,
Call options 18th Mar, Strike 20$
Call options 18th Feb, Strike 25$
*This is my idea and could be wrong 100%.