On September 13, 2018, we provided downside targets for Tilray when it was trading at $118. The downside targets, based on the work of Edson Gould, were:
- $66.67 (conservative target)
- $54.55 (mid-range target)
- $42.42 (extreme target)
Because of the speculative activity in Tilray, we made a point of building downside targets for the stock if the price doubled to $236. At such a price, the downside targets were:
- $102.92 (conservative target)
- $90.79 (mid-range target)
- $78.67 (extreme target)
The actual intraday high for Tilray was $300 on September 19, 2018. This was a far cry above the initial trading price of $118 that the downside targets were constructed.
As seen in the chart below, the actual low has been $2.43 and Tilray currently languishes at a price of $16.80.
On January 19, 2021, we projected price targets for GameStop (GME) when the stock was quoted at $39.91. At the time, the downside targets were:
- $21.26 (conservative target)
- $18.22 (mid-range target)
- $15.17 (extreme target)
Since that article, GameStop has increased as high as $159.18.
Given what we’ve seen with Gould’s downside targets in the case of Tilray and other stocks, we still believe that the conservative downside target of $21.26 will be achieved.