I wish I had a reason to believe that the stock will rise over the remainder of the year, but frankly I don't. Tax loss selling could be a reason it may fall, but I think many doing that have already done it. If we should get the listing in Canada, that could spur higher prices, and many believe it's overdue, I don't know.
I really cannot say we'll get any news before the company makes its presentation at the Wall St. Conference late February. We know that the Phase 1 Safety Trial of the cream didn't begin until October and is scheduled to end sometime in the first quarter. As I remember the trial, all involved are evaluated for 60 days, so if we knew when the trial was fully enrolled we'd know when it should conclude, but the company has never shared such information. While I'd hope they're fully enrolled now, they could still meet the first quarter guidance if the last volunteer didn't get dosed until the end of January.
I don't want this to sound like a downer, anticipation of information may buoy the price of the stock, but people need to realize we're not talking about news tomorrow. If by chance all patients were enrolled in the trial by say Mid-November, then it could end Mid-January, but I doubt enrollment occurred that quickly. I hope it's complete as of now, which would put the completion Mid-February, which would mean the company could discuss it at the Wall St. Conference. Remember, this is a double blinded trial so the company won't see detailed analysis of what's happening until the trial is completed.
My average price is slightly above where it's trading now, so while I've got the shares I want, I do have funds available to add more should it really provide a major opportunity to average down. I would rather not as it always upsets my wife, but over the long term it should prove to be even more profitable.
I'm not a technical investor, but I respect those who practice it. I feel the biggest flaw in investing purely on what technicians view as most important is that they rarely factor in news. I believe that without any news the stock may trade in the range they anticipate, but sometimes news, even which isn't directly tied to the company, may result in a huge move. While I believe we put too much importance at what our Federal Govt. does, that won't change anytime soon. I say this because the world marketplace is huge, even without the U.S., and while the company planned U.S. sales where such sales are legal, they could do very well from sales outside the U.S. Many cannabis stocks are U.S. based and they should be far more effected by something Session's says, but we're still influenced by what's happening, even if it's a small part of our business plan.
Gary
