What had been announced for weeks, if not months, has now arrived on Tuesday. The Halo Collective share moved after a long struggle below the mark of 0.03 euros and thus opens a new chapter in the painful downward trend.
This has accompanied the stock since the spring and despite some good news, the bulls have not yet found a way to even begin to fight it. Everything has been overshadowed by a severe hangover in cannabis stocks. A complete reassessment of Halo Collective stock could now be on the horizon.
Is Halo Collective stock about to take a complete tumble?
From a purely chart perspective, Halo Collective stock can now rely on virtually no support at all. Thus, it can be assumed that it will set its sights on the 52-week low at 0.02 euros in the foreseeable future. In the worst case, even that could be just another intermediate step in the ongoing slide.
On the other hand, there are hardly any signals for an imminent recovery. Some might see the 80 percent drop in share prices since March as an opportunity to enter the market. As things stand, however, it is highly doubtful whether Halo Collective shares will recover at all from the heavy losses of recent months.
It was all not to be
So far, 2021 has brought mostly disappointments to Halo Collective stock. The biggest is the fact that the U.S. government was so not concerned with the issue of legalizations. When Joe Biden took office, many observers had expected otherwise.
To date, there are little more than vague prospects for renewed legalization, both in North America and in Europe. Combined with the fact that growth rates to date are well below what was expected on the markets just a few years ago, the bulls simply have no chance with Halo Collective stock. At the moment, the only question seems to be how low the stock can go.