/biz/ - Business & Finance

I think there are at least a couple anons holding RIV bags in this thread so I figured to do a long range TA for them and a reality check on how weed IPOs go in the dude weed:

Dude weed IPOs that do not pop straight up right out of the gate and maintain momentum for a week+ (like CWEB) have a tendency to consolidate after sell off over a period of about a month, followed by violent rising trend to ultimate short term peak. You can see this on listings like GTII and Tilray. Tilray looks like a parabola straight up from listing when you're zoomed out, but that was not the case. Look closer and you will see that Tilray hit an initial high of $34.10 within two days of listing, bled out to a low of $21.90 before establishing solid support and starting the The Run™ to $299. Pic related GTII was a more extreme case (in terms of initial drop) peaking at $16.85, dump to $8.45, cup and handle pattern formed, then shoot to $32.50.

The reason I keep harping on about RIV is that this is no shit stock penny gamble. Their holdings are doing well; TerrAscend went parabolic this week, Livewell just announced an acquisition today, RIV has over 100 million in cash sitting around waiting to be chucked at something anytime they wish, and papa Canopy Growth has held up very well under sell pressure this week.

In other words, HODL this bastard at least until you break even. It won't be very long to wait.