Twitter Ticker ($MON)
Monsanto chatter has been germinating on StockTwits, but stockholders sipped the Roundup as it fell 3.96% to close at 76.16. Despite the hippie outcry, the GM seed business continues to thrive, but folks have taken to eating dandelions, and aren’t spraying weeds with herbicide.
The stock formed a bearish triple bottom breakdown and is trading in a range between 70 and 87. Despite topping estimates and a CNBC headline that reads “Monsanto Is A Screaming ‘Buy’, Says Analyst”, MON looks neutral/bearish.
The “easy” money was made from May 2003 to August 2008, so don’t expect this to be another 10 bagger. MON needs to hold 87 for me to believe there is any life left in this crop.
Finally, clips like this suggest Monsanto is on the wrong side of a growing trend towards organic non-GMO food, so perhaps the cultural soil is becoming less hospitable for their business.