PCG Shortening + Long Strategy Potentials
Right now, I own some PCG stock so I may be bias, and as always nothing I say should be taking at face value. That being said, the negative correlations have to do with the PCG bankruptcy reports, as well as the time period going on (we are in the coronavirus era as we are seeing negative correlations). If you look at it from a simple "supply and demand" perspective, the demand for many utilities and gas is going down. This is especially true given many mandatory stay at home orders. People already known about PCG's bankruptcy timeline for a while now, and this was still when everyone was calling positives. I believe short term, it does have the potential of a breakout at $12, but there is also a negative long term potential as well. Business-wise and investment-wise, I am not sure it is looking good for PCG, and many other companies out are disrupting the industry.
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