Home / Business / CBD specialist crush skeptics with income report

CBD specialist crush skeptics with income report

GW Pharmaceuticals PLC (NASDAQ: GWPH) is trading up 12.5% ​​before the opening, as investors applaud the fourth quarter results of the cannabidiol treatment expert, which recorded a 67% increase in sales. In response, J.P. Morgan Securities and Stifel raised their respective price targets for GWPH shares to $ 180 and $ 191. Most analysts are already optimistic: 90% of respondents have issued "buy" or "strong buy" recommendations, but many others have bet on security.

For example, short interest has jumped nearly 58% in the last two benchmark periods, continuing the strong increase of 2019. This places almost 12% of the total float in the hands of short sellers. , 6 days purchasing power, based on average daily trading volumes.

Not only that, but weight buys were extremely popular at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE) and NASDAQ OMX PHLX (PHLX), ahead of profits. The data shows a 10-day volume / call ratio of 1.64, which ranks only one percentage point from an annual high. In summary, option traders had unusually bearish trends before the quarterly report.

On the charts, GWPH's shares were supported by the 200-day moving average of recent weeks, a trendline that also helped the stock in August. GW Pharmaceuticals was up 29% from today and could now hit a record $ 179.65 in September.

Source link