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Cannabis stock TLRY plunging. What would be causing this price action?
I don't mean to be unkind but you need a better news source. This was probably the sort squeeze of the year with all the hallmarks of a humdinger. The people who bought into a parabolic rise (textbook parabolic blow off top) and did not bail when the thinly traded stock locked up are what are called bag holders.
This was pretty much text book all the way including the waterfall crash. Doesn't happen every year to this extent but it does happen.
Wait until the AM open to see what it could drop. How does a company with 28Mil in sales become worth more than American Airlines and Expedia?
Matt Z
Optimus Futures
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Well their fundamentals got out of whack, they became overvalued, then were downgraded to "market perform." I'm not surprised about the large correction. Seems sentiment soured a bit. But could still see outperformance imo if sentiments return.
