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Well they haven’t even started selling yet and we’re touching 1.25 already. Goodjob on the short.
Disagree that shares will go that low. I wish they would. I'm shorting the stock at the moment, but they will retest the 52-week, and RSI should trigger buys at the $1.12 range at the lowest. I still don't see it falling below $1.25 before then personally. If so, it'll be a toe-dip at worst.
Disagree from a technical standpoint. Agree with mismanagement though. EPS is improving quarter over quarter - showing promise in terms of future growth. Bigger players still need to raise capital and don't have recognition within the industry locally.
Ouch those new shares taking a tool before the Q3 release. Unfortunately this is the nature of mj stocks. Below dollar-land coming soon
CANN overvalued. Consulting revenue is mostly non-repeat work and more competition coming from better equipped industry players. What is a lifestyle (teeshirts), security firm (losing market share) and consulting company worth? 3-4x annual revenues at best, or a share price of $0.25.
Positioning suggestion:
Quarterly earnings should allow Frichtel and his staff to sell more gifted shares at a premium, now that they've all provided themselves some cozy cheap options. Those options will be exercised just in time for the release of earnings, which will spike volume, and allow them an exit strategy at a much higher valuation. (Basically the same thing they keep doing every time they get to Q3 each year.)
If you want to get in while the getting is good, and ride the wave to it's apex, buy now, and watch the price jump substantially by the beginning of November.
But caveat emptor - be prepared to sell quickly, because once volume cools, these shares will drop again. EPS is still in a hole, and profits have yet to be had. (-800% since inception.) This company is content to operate on margins that haven't been seen by any competitor in the cannabis industry.
Buy (CANN) now, and hold for no more than a month, then sell.
That's this guy's take. Any others?
Frichtel is a f***ing crook who is doing everything in his power to push the share value down to issue more shares cheap, before earnings. The books are a mess, and they keep rewarding their HNW employees for operating at a consistent loss.
If he's not careful, my next call will be to the SEC.
Did a little research.. they were issued options to the new CFO 300k shares and 25k shares to most other employees. Over 500k now shares added on our share structure for payment. They been issuing these for a while now but I’ve never seen 300k one shot. Looks like further dilution coming soon if we don’t get those buying volume days in.
Did insiders just buy a whole bunch at 1.35-1.39?
Here comes the 100k+ volume. CANN is a solid buy in the short term.
Wow California still 3 months away.. could see this in December being over 2-3 easy.
I think there's reason for optimism heading into October. We should see support at $1.40 and a climb to the 50-MA.
My dears.. love to watch this show with you again!
Happy to.
I can see volume is already picking up. I imagine the trend should continue.
Nice day today. I still think that we will fill that gap on the daily before we move up again. But, hey what the heck do I know? lol.
Added a few at 31, did not get filled lower but hoping.
Cann $$$$$$
Thanks for this analysis! Helps me to hold with patience.
(CANN) will retest the 50-MA and 200-MA within the next 15 days.
After another predictable year of negative EPS and Robert Frichtel refusing to play nice with shareholders, General Cannabis has hired a new CFO to tourniquet the hemorrhaging of cash that has turned a promising pink sheet into a big question mark in the last year and a half.
Expect a pickup in volume during quarterly earnings, as CANN is poised to increase revenue and possibly dip into the black of profitability by year's end. Even if GC comes in with another quarterly loss, expect it to be a continued reduction over Q1-Q3.
While every technical indicator suggests sell or avoid buying, if you want to get in at around $1.25 a share, this stock should spike into the $3-5 range rapidly on heavy year end volume.
Keep an eye on RSI and MACD which suggest this stock is incredibly oversold. Any good news in the cannabis industry out of California or Arizona could only increase the early attractiveness from a volume standpoint.
Good luck traders!
A lot of up and down today. Would be nice if we are up at 4:00 PM
Still in and counting the days. The turnaround must come!
Greenrush ahead - CANN is ready to run..
What’s going on here? When is the bottom? We’re end of September and instead of going up we’re crashing.
NEWS: General Cannabis announces the appointment of a new CFO
https://globenewswire.com/news-release/2017/09/18/1124196/0/en/General-Cannabis-Announces-the-Appointment-of-a-New-Chief-Financial-Officer.html
CANN opens IPG office in California..
https://m.facebook.com/story.php?story_fbid=1724112597898418&id=1396437950665886&__tn__=-R
Greenrush ahead.
I hope for some green in the future for CANN! The CBD market is taking over right now and I think CBDPure will go public soon enough. I would recommend trying them if you haven't already. http://www.cbdpure.com?AFFID=305396
Orrin Hatch Hails the Benefits Of Medical Marijuana
https://www.yahoo.com/news/orrin-hatch-hails-benefits-medical-202232787.html
Hawaii says it's 1st state to go cashless for pot sales
https://finance.yahoo.com/news/hawaii-says-1st-state-cashless-marijuana-sales-214912678.html
waiting for it.. very calm - will a storm follow?
Some off CANNs staff are in NYC.. maybe visiting Bookcvar, Feinsod & Co for kicking it off to the moon : )
GLTA
Right around this time last year, we had a nice increase into mid October. Is it likely we will have a repeat?
CANN takes role in business alliance Colorado Leads
"General Cannabis is proud to be a founding member of Colorado Leads.
Colorado Leads is a pro-business alliance promoting sensible regulations that create certainty and sustainability for all companies benefitting from the legalization of medical and recreational marijuana. Colorado Leads membership is committed to advocating for statewide policies to ensure a positive economic future for the cannabis industry while fostering responsible business leadership.
Learn more about Colorado Leads at http://coleads.org"
source: https://www.facebook.com/generalcann/posts/1718568961786115
General Cannabis Corp. :CANN-US: Earnings Analysis: Q2, 2017 By the Numbers : August 25, 2017
http://www.capitalcube.com/blog/index.php/general-cannabis-corp-cann-us-earnings-analysis-q2-2017-by-the-numbers-august-25-2017/?yptr=yahoo
It will come with some triggers, new sector and much legislation needed to go forward. Has been a great ride thus far!!!!
Cann$$$
yes, but where is the buy volume?
General Cannabis Announces Acquisition of Mile High Protection Services LLC
https://finance.yahoo.com/news/general-cannabis-announces-acquisition-mile-130000396.html
Does this stock have anything to do with weedmaps
Certainly looking stronger!!!
CANN$$$$$$$$$
What are some of your top marijuana companies currently that do have a positive long term outlook?
I no longer am expecting $1.00 but rather $0.90. This is my read of the chart but supported by the terrible financial condition I describe below. Not only are the warrants a problem, but Feinsod is running this into the ground. He should really step aside and bring in someone that knows how to run a business, as these guys clearly don't. They have been at this for years and are still bleeding to death. They really need to get those warrants exercised or find alternative financing soon, or it will be lights out.
Take a look at the year-to-date numbers:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12215653
*Cannabis industry is exploding, and these guys have grown top-line only 11%. Not good enough to excite current or potential investors
*Operating expenses and costs have grown more rapidly than sales - 56%.
*Even stripping out stock comp, operating expenses and costs are up 36%
*Consequently, the operating loss has almost doubled, rising from $1.85mm to $3.5mm.
*Cash used to fund operations has exploded from 434K to $1.64mm in H1
*The balance sheet is a wreck - just $277K in cash at quarter end, ostensibly not enough to make it through this quarter given their cash burn without additional financing
*Current assets of $702K compared to $8.07mm of current liabilities. Stripping out the non-cash derivative warrant liability, the current ratio for this money-burning company is only 1.7X.
*Equity of -$7.8mm, adjusted for the warrants, is only $258K
*Feinsod appears to have put his own interests ahead of the company by doing that dog-crap Dixie deal
*Bring on those warrant exercises - all 5.8mm (which will yield about $3.8mm) and maybe this company lives to see the next year without more capital-raising. The problem is that they will beat the stock down in the process.
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