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Because the executives are trying to authorize 5B shares and investors know this isn't a 1$B company to justify 20¢ a share.
Price is going down, executive leadership is in way over their head. Only real MJ company, but horrendously run.
You're missing the point: politicians only do what they are paid or forced todo.
Regarding MJ, the Decriminalization effort is satisfying a majority of their pro-MJ constituents. If the voters are sated, the politicians can go back to running their government into the ground.
Well, I have been saying it for many months :)
Decriminalization is not legalization.
It's decriminalized to posses small quantities; it's still illegal to produce or sell, so no legal industry.
Decriminalization isn't just the first step, for many politicians it's the last step: just enough to appease their constituents and sate the demand for changing marijuana policy.
It says 'I support human rights' to their left leaning voters.
It says 'I don't support illegal drugs' from their right leaning voters.
Decriminalization is a political dodge.
Shareholders of record only includes shareholders with a certain % of ownership. I'm not fully familiar with the exact rules governing that value, but you don't take into account hacks like any of us.
Yes, I am a hack. Profitable, but a hack. I've seen a 38% return this year..
Flipped a few times, missed the big one but still got out ahead.
I'm so glad I lost confidence in this company weeks ago.. I was able to make a great flip. could buy back in Tuesday morning, but I probably won't until late next week.. At the earliest.
I'm waiting on clarification regarding interstate commerce and banking.
Yeah, unless the companies never release an audit, yet keep promising.
Roflmao. Indeed, lots of opportunity to flip.
In at .1847 around 3:45pm out at .235 around 8:45am, 5¢ a share is not bad for half a days work.
I made more in 30 minutes (yesterday buy through close and today open until I sold), than I did holding MJNA from Nov 1 through June!
I was reluctant to sell during the big run and only sold as the price started to collapse towards the .10 danger point.
I learned my lesson, this stock is good for flipping. I contemplated buying back in at .18, but I know this stock! I'll wait at least until next Thursday, let the price settle before I consider anything further.
We might see growth once a bottom is seen, we might see it fall back to .15-.16 (above where it started yesterday).. We'll see what direction this will take in a week.
GLTA flippers and longs. Shorts (position, not profit takers) can go eat a ****!
No, but they need a bill to transfer money across state lines and pay federal taxes without getting hit with money laundering or interstate commerce violations.
The path is not clear... MJNA will keep a holding pattern. They still have plenty of opportunity to crash this plane.
Maybe. Big news 'can' adjust shareholder confidence levels resulting in a higher acceptable P/E.
However without full reporting of Red Dice (all THC related license fees), the fundamentals of this company is horrible.
Maybe the news will allow for legal reporting for tax purposes, maybe allow for interstate commerce (transferring revenues, not products), and then Red Dice could accept / report THC based earnings.
Without that, fundamentals suck, and we'll never have true transparency to see what the hell is going on.
It's 50/50.
Yeah, that RSI has a ways to go before being over bought. Lots of upside!
ROFLMAO. No, none at all.
I agree whole heartedly. We still cannot realize profits from Dixie's THC product lines.
We should not have run, but don't forget, we do have THC products, and any positive change is one step closer to a federal legalization and that will reduce the risk of owning MJNA, and that influence of shareholder confidence has a direct impact on P/E.
I'm back in for now, wish I would have caught the news sooner.. But a few pennies will pad my account nicely.
I think this news will result in a new MJNA support level: where I don't know, but .12s and .13s are long gone now. It'll take a massive Eff Up by Michelle to cause the shareholder confidence to wane.
Who cares about SAC selling? They got caught with their hand in the cookie jar... They already sold off their position before the after hours dip.
They didn't sell because of economic concerns, they sold because they need the cash because they know they're going to be b-slapped by the SEC.
Tells me the selling pressure should be gone and the price should climb!
They did
Some of those are approaching a year old this fall.
Last year on this board people were predicting dollar land within the year.
News outlets can be wrong too.
Additionally, they were articles on Dixie.. Which we know is the only real MMJ aspect of MJNA, yet they make very little from them.
And you expect that transparency to be full of truths or wishy-washy vague comments that seems like clear statements until you try to nail down actual facts?
Years ago?
The shares she owns from 'a couple of years ago', if your definition of 'a couple' would be her ownership of HDDC.
The shares she got a couple of MONTHS ago (40 million of pure dilution) are the ones that should be returned.
It seems to me that MJNA only books profits from any of its holding companies. So the value you are accounting for gum sales may just be after operations profits.
Before they paid themselves huge salaries and bonuses of course.
Yeah.. Good luck with that.
I agree wholeheartedly
You obviously need medications.
Technically you've made absolutely nothing and have left a ton of money on the table. Not until you actually trade the stock can you say you've made anything.
Those revenues but what stock structure?
MJNA is a diluted pig and will remain a diluted pig until they have at LEAST $15M of certifiable (and audited) revenues annually.
Then it'll be worth 10¢
I have never ever heard somebody use the word 'utterly' in a positive statement: "utterly useful".. Roflmao!!!
Sounds like whoever runs their Facebook page is running their fake reviews... Their social media intern/specialist/coordinator/whathaveyou is a moron.
I think it was a scam company realizing their brand value and also that they're too big to go under and disappear: 937M shares: people will want blood (very long jail sentences).
I think they're trying to turn it around and salvage it, but I think Michelle is poison... She's either Llamas' pet or she's just really bad at her job.
I honestly think we could start up a similar company, raise capital to buy MJNA's RDH position, start up our own pharma companies and hire real executives to run it.
MJNA belongs in the kiddy pool. ( amateur hour) but they're playing in the deep end.
It needs Michelle to sell her HUGE position and get off the board and stop all involvement. This company will never succeed with her at the reigns.
It needs a proven executive staff from other industries to come in and cut the pet hemp crap, cut the affiliate marketing crap, focus on medicinal aims.
Invest in research, invest in REAL pharmaceutical companies that research what effects actual measurable doses of CBD and THC have on diseases and maladies... Instead of just randomly determined high doses like all the other crap-miracle-vitamins and such.
Get down to business of 'Medical Marijuana' and stop hawking crap like hemp shampoo.
You're telling us?
We've known that for clear over a year: this stock plays on news and market interest.
When the market thinks pot is hot, MJNA jumps and sympathy plays follow. But it's NEVER based on real financials.
You know it.
Having lived this stock, combing over every PR and report, waiting, critiquing, demanding answers... it wasn't hard to say 'more of the same'.
Yeah, I replied to myself acknowledging that.
Don't know why it's still .18, should be .08!
Was this a scam company that realized they had a brand and tried to right the ship? Or is it just pi__ poor management?
Or both? Affiliate marketing and pyramid scheme sales of hemp shampoo and pet toys is NOT MEDICAL RELATED.
I'm just constantly embarrassed and confused about my ownership of this company. Some good, most bad, good is just a % ownership, bad is outright owned.
Michelle has a choke hold on this company and she's in over her head!
Oh, Q2 is out.. Whoops. And it looks bad (go figure).
This was the profit taking day...
I suspect pumpers are jumping ship.
I think .16s to .17 could be sustainable bottom (worst case) through Q2 Thursday.
Then who knows...
My opinion, it'll drop back down between .12-.14... Because I don't believe we have strong leadership, Michelle's still running the show and that's not good.
I expect Q2 to be more of the same vague BS and unintelligible cash flow statements.
Standing by, GLTA.
The support isn't as large as you imagine. We advocates are surrounded by like minded people, reinforcing the same BS to each other.
If you focus your efforts on decriminalization, some advocates will be satisfied and will tamper their fervor, and the politicians can tell hard core advocates: hey, it's incremental, we won this fight, let's regroup and let it simmer... Then they'll go off and do whatever else will get voter support without upsetting the other side of the equation... The other camp who is ardently opposed.
Decriminalization will slow everything down to a crawl.
The support isn't as strong as you want to believe: it's there, but its not enough to get laws passed. For crying out loud, Hemp is still illegal federally... HEMP!!!?! That shows you have far the mindset of our politicians really are from the MMJ movements goals.
Do you know what the Ogden memo is?
Written a few years ago, and nothing changed: states won't get sued, but Feds will still do their job!
Ogden memo was confusing: it suggested hands off, it suggested letting states do their thing... It said nothing about agencies being hands off, it did nothing about agencies being even more aggressive.
Dispensaries will always be at risk until there is a federal law that protects them. Users will still risk losing their jobs and still risk not having access to medicine when traveling.
Holder and Dear Leader are just regurgitating the Ogden memo, as they did last year when they kept saying a statement is forthcoming, that they have bigger fish to fry than users... It's a distraction, but business as usual: federal agents will do their job as the law is defined.. Nothing will stop that.
Not bashing, just saying we've seen the peak for this piece of news.
Holden's speech is going to be about decriminalization, and it'll just be a speech, its going to be a regurgitation of the Ogden memo; it won't be backed up by any ACTUAL laws or officially documented policy changes.
I'm talking about political pressure for short term results, you're talking about just letting it happen in 5-10 years.
How does slapping the ask help reschedule?
This company needs value added propositions, not empty ask-slapping that will only result in losses.
Remember: buy rumor, sell news. The news is out, profit taking is ongoing: new investors are already in, this will stabilize here at best (with luck), withdraw otherwise, but I do not expect to see .12/.13 unless Q2 is a letdown.
yeah yeah yeah, Ogden memo all over again: does nothing for legalizing it in the eyes of the federal government.
It means people can still lose their jobs, can't travel with their medicine and individual federal agents can still bust heads in any state they want.
How does slapping the ask help reschedule?
This company needs value added propositions, not empty ask-slapping that will only result in losses.
Remember: buy rumor, sell news. The news is out, profit taking is ongoing: new investors are already in, this will stabilize here at best (with luck), withdraw otherwise, but I do not expect to see .12/.13 unless Q2 is a letdown.
I'll say it again: decriminalization will save money but won't help move the stock price.
Decriminalization let's politicians off the hook: they can say they are addressing an overzealous drug policy (war on drugs) that isn't working, addressing human rights issues, reducing tax expenditures, freeing police to do other work, etc etc.
None of that helps legalization or rescheduling. When politicians get let off the hook they no longer care to push, they look for some other hot ticket item to get behind. Decriminalization let's all the air out.
The pressure needs to be maintained: pressure to reschedule!