DIREXION SHS ET/DAILY JR GOLD MINER(JNUG) faces 93% loss in 5 days with hope of comeback after hours
JNUG has seen a huge loss in the last week, precisely 93% with fears of coronavirus attacking the market as a whole. So what’s next? Part of the reason for these huge losses in gold is due to investors pulling money out of gold to recover from other market losses. Moving forward, this makes JNUG and other gold mining stocks a good buy for long term gains. It will take time for the price of gold to rebound and there is just an unbalanced ratio to miners to gold. Holding tight and buying more to even out your price average would be the best move for the future. As of now, expect to see continued loss with hope for the future.
JNUG is currently up 34% 50 minutes after the market has closed. People are taking advantage of the price point JNUG sits at. Some people will be holding for the long run and others will be profit-taking.
March 13, 2020