You have a stock that is propped up by hype, and we even have a certain date where it will certainly tank beyond that date, and yet it's still 3-4 times more than IPO price.
That's TLRY. Still mind boggling its $70+, it's only about 2 weeks away from IPO lockup expiry, and recently it got pumped 10% and 16% daily by management. You have to wonder what these retail trader idiots are thinking holding it to still $70.
Another thing reminding me was HMNY. That stock, everyone with triple digit IQ would know it's heading to approach 0, and yet it took a year for it from Oct 2017 run to $34 to go to $1, then reverse split and end up $0.1. It was always amazing some bulls kept holding on to that total garbage, even though it was overvalued by a ton.
Now im not saying current market is any similar to TLRY or HMNY, but the underlying psychology is the same. The current stock market is overvalued but as long as there enough delusional fools out there, it wouldn't tank. PPT already pumped the general market and stabilized it, true legal market manipulation. But will it last next week? This is still a long term bear market/recession with some short term relief. And the danger is you never know when Oct and Dec rout gonna strike again but the real danger is there. This is no longer the bull market.
Submitted December 28, 2018 at 08:02PM by nocehr http://bit.ly/2Ajkv3E
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