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Good man.
Precisely.
Bad timing on that exit. This will head back towards highs over the coming few months.
No seeing the same on Etrade. I also see much more buying pressure... doesn't mean it can't get manipulated a bit further down but I think a pivot should be relatively near.
I presume you're going off L2 data?
It's public knowledge that they've been selling private placement at par coin-to-share value to "qualified investors." This is actually happening with most of their funds I believe. There's no reason to long ETHE when Grayscale continues to make backdoor deals that adds to dilution... at least not worth it until the fund is at or under par value. And no, it's not illegal because they've publicly announced precisely what they are up to. People just don't understand what it means or they don't pay attention to the press releases regarding the fund.
Chinese names always seem to be shrouded in some uncertainty, especially when it comes to accounting. I've put this one on my watchlist though so I'll keep an eye on it and rel vol. Pretty cool that it incorporates tokens in its business model, I haven't seen that with any other publicly traded cos thus far... I appreciate the post!
Yeah, this is an interesting one to be sure, thanks for letting me know. It would be nice if the share structure was a tad lower but the balance sheet looks healthy according to company filings.
Thanks for those Harold. I was already aware of RIOT and MARA but wasn't aware of INTV so I'll do some dd on that one. I'm surprised that there aren't more OTCs surrounding the crypto space as there were MJ stocks before its boom. I suppose they'll probably start to pop up as interest increases though.
Does anyone know of OTC stocks/funds that aren't offered by Grayscale and that involve Ethereum?
The problem with me for ETHE is that Grayscale is offering private placement at par value so shares regularly get dumped on the open market which suppresses price. Basically the company is profiting on the backs of retail investors. I know people will tell me to just buy ETH and cold store it but I'm curious to know if there are other market alternatives out there.
The only thing currently attractive here is the share structure. I think this company probably has AT LEAST one massive partnership in the works sometime down the road but at the moment it's all a question of how long it can weather the storm without diluting or taking on swaths of debt.
Yeah, I guess that doesn't answer my question though. Those big name investors seem to be buying into majority or minority ownership. I understand how they could and likely will profit from that. I suppose most common shareholders will just benefit from speculation in the growth of the space then? I'm not arguing that there isn't heaps of money to be made in e-sports but that's probably more likely with the services and products that surround the industry, not so much the individual teams-- unless one is buying a minority/majority ownership stake. That's why I don't particularly get this company. There is no actual product to generate revenue beyond the team and money generated from tournaments/sponsorships... no one seems to be able to substantiate proposed path forward wherein this company will accomplish steady growth of revenue per an actual product or service.
Does anyone here know Simplicity's actual "vision?" It seems to me that buying shares here is quite similar to buying shares in a professional sports team, am I wrong? I mean... I understand that eSports are definitely up and coming but I guess I don't get how investing in an individual team can be all that lucrative. Is there any plan to actually turn this company into something more?
Yeah, that's why I'm actively searching for a pub. traded ETH fund. ETH may have more outstanding coins but its application far exceeds that of BTC in my personal opinion. Anything can happen though and I guess we'll see what plays out... Thanks for the response
Does anyone know of an Ethereum-specific publicly traded fund, stock, or trust by any chance? I know that there is a lot concerning BTC and crypto as a package but I'm always searching for something that is specifically ETH-based. Perhaps it doesn't exist yet?
Thanks for clearing up that about the share structure. There are some positives here, I only really listed what was concerning to me. Digipath definitely is a real company but I'll remain out until we see another update on the O/S number. I'd like to calculate how much dilution occurs with such little cash on hand. You are right though-- the structure is much better than over 95% of MJ stocks out there and that fact should remain the same regardless. Further, 0 debt on the books is huge assuming the company can get some other testing facilities going in CA + FL and revenue then starts to snowball. The real question is: How long will that take?
Cheers and best of luck to you also Knife.
I've actually decided against building a position in this one for now. I like SS and it was good that a/s sits at 90 million. There are still a handful of issues that I have here though...
-Cash on hand went from $3.6 million to 277k in a matter of 2 years. That's not the best management right there.
-CEO Todd Denkin made nearly half a million in total compensation last year. That is very generous for a company still bleeding cash.
-Shareholder value is now basically a third of what it was in 2015. 11mm o/s to 31 o/s. That dilution rate isn't terrible but also nothing to write home about. I understand that it is alternative to taking on long term debt but it also pretty much throws shareholders under the bus. Now that the cash has run out, it could start ramping up quickly.
-TNM is just a silly side gig that should be cut out of the company at this point. I get how it can help a bit with marketing but seriously, focus should be solely on MJ testing already.
-Past endeavors have not exactly panned out... The company "tried" to expand into Colorado but failed. Now there is the deal with OC Testing LLC but pretty much anyone could set up an LLC for very cheap so I'm not entirely convinced on its validity yet.
-Lastly, I have a bit of a complaint. Change the ticker symbol and name of this company already! If those two things were at all marijuana related, this stock would probably see at least 2x trade volume.
I do believe this is a legitimate company, but I'm out until I can reassess the share structure next time to see what the rate of dilution will be with low coffers and until I see some sort of actual progress on a physical testing facility outside of Nevada... Curious to hear if anyone has anything to chime in though...
There are only 3 domestic MJ companies that I really, really, really like. This is one of them.
My opinion-- the current administration knows that it's a lost cause but they don't want to unleash the MJ weapon yet because everything is cheery with the economy right now. The ploy is that the federal government will support legal MJ as soon as it truly needs the tax revenue. Still, the administration could do some damage if they really wanted to do so--- so it is still a bit troublesome to hear that rhetoric. I'll only start to worry if related crackdown events start to happen. The market will take heed.
Nah, I won't trade this... just build a position. There are better momo plays in the major markets with more liquidity to trade right now. MJ will be back again, just gotta keep an eye on it meanwhile.
Have fun down in Florida, it's a good time to be headed down that way. I'm stuck in Vegas for now-- not bad at the moment but the weather quickly turns into Hell. NFL playoffs though so I'm having fun at the books at least...
$MDCL
Yeah, I'm afraid part of it is sensationalism too. Medicine Man does not have 'Marijuana' or 'Cannabis' in its name. That alone draws dumb money.
If the company can prove themselves with revenue and, ultimately, profit, the name won't matter. I hope MJ moves again soon though... just trending sideways really and that makes me a bit nervous. It will either have to break up or down and it doesn't seem like there are any tangible catalysts in the immediate future.
Don't cry to me tomorrow.
Gold has been tapping the 1180 floor all day with lower highs, jobs report tomorrow, NASDAQ all time highs, market not technically overbought, sell off in last minutes of NUGT trading... etc. etc.
Take your pick.
I hope you all were smart and booked your profits today.
I already posted my reasoning. You can browse through the comments.
We all have our own opinions and I don't have a care what you do with your own money. That is all.
Nobody, but you might be the one that wished you had taken it.
Yeah, NUGT may be a good momo trade today. I won't argue with that.
Look no further than the indices, took a rest and now it's back up and with some room to break highs... Bitcoin also is a sympathy play to gold. It is absolutely crashing right now.
Be very careful here is sound advice.
Agreed, a lot of people are going to get burned here
50ma broken lol
Yeah, that's not good financing for the long term but it means nothing for the interim trader. Until the 50ma is broken, technicals are still bullish.
In other words-- just don't marry this stock.
Thank you Drugdoc... I've got some homework to do tonight to catch up on the details of this company but, rest assured, I am here to stay for the coming ride.
GLTY sir
I will have to check that post out! I hadn't looked into MDCL before but just found this jem... super excited today after that Elizabeth Warren news though. I can't believe I'm finally saying it but I think we are literally on the cusp of a ton of money coming into the MJ industry-- big bank money.
All the best to you brother, keep some space open in your pockets for the crazy cash that's about to flow in!
Gbuddy! Great to see you here man... hope you are well.
I'm getting into some MDCL myself. We are about a month away from some very big news in MJ.
Not necessarily but I can't imagine it would be too long after if not. When financial institutions can get skin in the game, we suddenly have the most powerful industry on side of MJ. The news is scary good.
$leek called astronomical numbers pre-November... I'm starting to believe that we could very well see those targets hit if certain things play out.
An insane amount of $ will be pour in when that happens, absolutely insane. Furthermore, MJ is not being sold off as happened in 2014... good things afoot.
GLTY too
Elizabeth Warren trying to free up banking restrictions. Big domino.
Thanks for the kind words Rainer. Accum/dist is very real and very important-- invaluable for reversal confirmation. We aren't at the tipping point of a correction quite yet but big funds are certainly in a distribution phase right now. I'm looking for a weak move back up to 2270 levels, tap on 70 RSI (or close), and neutral MACD. Good possibility that that will set off a correction down to 2210-2200 on the SP. Sorry to ramble but I'm pretty excited about what seems to be unraveling right now...
Also, I'm not long gold per se, sorry for any miscommunication on my part, for the LT I am very much bullish USD. I just think that there is a strong possibility for a sizeable bounce in gold towards the end of this month. If I'm right, NUGT could bounce off a higher bottom or, best case scenario, bounce just above $6 bottom from mid-December. I'm not in DUST or N*GT yet but I am watching both charts closely, as well as commodity futures, and major indices. I'll jump in when I see it :-P
GLTY as well sir and best of trading to you in 2017!