lots of buzz regarding the Brazil trial start bein
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Posted On: 09/02/2021 9:30:01 AM
lots of buzz regarding the Brazil trial start being "imminent". Not sure what that means in terms of days, or weeks - but it at least implies that all obstacles have been removed, which to me is great news.
so why is the SP still plumbing the 52 week lows? you might think the market (i.e. short sellers) would sniff out the beginning of the trial and stop shorting. and maybe some true longs would swoop in also. i've wondered this.
but i also remember December of 2019 when the SP hit 0.29 - and literally tripled in a month or so. and of course in 6 months it hit $10 (for a nanosecond). point is, there is precedent for this stock to hit the basement floor right into great news of the Brazil trial starting. i initially said that news wouldn't move the SP - but i actually think it will now.
anyway, i really hope the "imminent" rumor is true and that imminent is defined in days not weeks!
so why is the SP still plumbing the 52 week lows? you might think the market (i.e. short sellers) would sniff out the beginning of the trial and stop shorting. and maybe some true longs would swoop in also. i've wondered this.
but i also remember December of 2019 when the SP hit 0.29 - and literally tripled in a month or so. and of course in 6 months it hit $10 (for a nanosecond). point is, there is precedent for this stock to hit the basement floor right into great news of the Brazil trial starting. i initially said that news wouldn't move the SP - but i actually think it will now.
anyway, i really hope the "imminent" rumor is true and that imminent is defined in days not weeks!
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