The Very Good Food Company makes Vegan Meats better than Beyond and all the other meat wannabes CSE:VERY I first 'bought in' to this company when I tried my first vegan faux breakfast sandwich at their first and only eat-in location in Victoria, Canada. I put my money where my mouth was when I bought into them soon after their IPO at $1.09. Since then, their market cap has exploded to 640m and so has demand for their products. They are rapidly scaling up production to meet an even more rapidly growing demand, with an 82% production capacity improvement since OCTOBER 2020. They recently acquired a small nut-based vegan cheese company to expand their product offerings. Bullish press releases and strong technicals continue to push this stock up. I wouldn't be surprised if an uplisting to the NASDAQ is in their future.
A close over 9.50 above their previous all-time highs will be breaking out of a final resistance point could be a good entry with a lot of upside.
I am hanging on to what is left of my original position and don't intend on exiting anytime soon, this is a long term hold for me.
DISCLAIMER: This is not to be interpreted as trading advice.
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Since this post, VERY hit resistance around 9 and moved back into the 7-7.50 range.
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VERY has been consolidating in the 7.6-6.6 range since testing its upward resistance. New bullish news today confirming that the company will be uplisted to the TSXV may give this stock the bullish momentum to test all-time highs again
Been looking at it for some time now. Missed out on buying at what, 5.5? But, as seen today where it started off in + but ended in -, isn't that telling us that it cant break through? Or is it just a natural small correction since its gained almost 50% since its last dip?
good post btw
matrixmisfit
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@Sami13100000, yes, around 5.5 was a good buy in for sure. It looks like it is hitting resistance right now, but it only dropped by 1%. It could go either way, we shall see what the next few days bring.
good post btw