I've obviously severely underestimated the market's demand for a real ground floor opportunity in a hot sector where 99% of the best plays have already been discovered and now have limited upside remaining.
The convertible debt and its associated selling pressure has given all of us an extremely unique and quite fortunate opportunity to get in at ridiculously undervalued prices with fantastic liquidity (perfect setup for massive accumulation) in one of these very rare undiscovered MJ gems.
The debt is virtually gone now and there should be near-zero selling pressure as we move thru the next few weeks and months heading into 4/20/17, when the pot sector always peaks every year.
If this is a 9 inning game with 27 outs leading up to the final price explosion on 4/20, then I believe we are only 1 out or 1/3 of an inning into this run -- so we have 26 outs to go and 8 and 2/3rds innings remaining in this game.
With this type of volume, dollar volume and float turnover -- it looks like we may trade nearly the entire 457M outstanding shares just today -- I will obviously need to reassess my preliminary price target of $.03-$.05 by 4/20/17.
Next week should be the first full week where MJTK trades with markedly less selling pressure due to the convertible debt being just about over now.
So with this type of buying pressure, in that environment of minimal selling pressure, my $.01 January target may very well be attained next week, which would be quite a bit ahead of schedule.
If that occurs, then the 4/20/17 price target will clearly need to be adjusted upwards.
Look for a full writeup on MJTK from me to drop early next week after MLK
Take care,
Sleek
