Over the last few weeks along with the spark of CGC earnings and the Constellation Brands $4 Billion dollar investment in the company. The Marijuana stock sector has been in a total frenzy.
I have seen these types of moves happen again and again over the last 8 years and they all tend to look the same. Either it is Crypto, IPO’s, Forklifts or a slew of other things, the moves all have one thing in common, SHORT SQUEEZES.
Now I will be the first to say $TRLY up here is massively overvalued (but it can keep on going) along with a nicely timed lockup expiration just a few days after MJ becomes fully legal in Canada, interesting co-incidence there.
Either way, short sellers are in a massive bind in TLRY at the moment and it is interesting to watch and learn how a short squeeze is created for anyone new.
I fully expect this to at least break $100 and then end just the same way all of these moves end. Just like the chart examples below.