Cronos Group stock continues to consolidate or trade around the $15 level. You don’t need to be a Market Guru to realize that the $14 level is important one.
Interesting article about the prices of a lot of the big cannabis companies. It doesn't look like any of them are going to hold support, and I predict new lows are right around the corner. Cronos might break the $14 support today, not looking good if you're long......
Read the full story here....
https://finance.yahoo.com/news/7-marijuana-stocks-critical-levels-152645893.html
playing with options on the bigger names (bearish obv) has been quite interesting. None of the US traded entities have anything close to a rational valuation. Investors are partying like it's 1999... woof
It's pretty bearish in the cannabis market right now, my guess is that there will be a big flush out and then a rally in the end of the year as companies make significant news, the big names have too much cash on hand to do nothing but sit on their hands.....
Looks like Cronos is going to start the day right at the $14 level.....
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