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except thats years away. Federally illegal in the states and CRON can't even supply Canada. How are they going to supply anywhere else???
Marlboro valued them at $12.25usd not $25usd....Are you forgetting with that deal comes massive dilution?
I added to mine yesterday as well. Longs are in full euphoria mode and delusional. This hits mid teens at least
chance of that is slim to none
Comparing this to TLRY is laughable. TLRY had 1/10th the float of this as a new stock in blue skys coming into the biggest catalyst in the sector (canada legalization). This has wayyyyyyyyyyyy more shares in the float and has no sector fundamental catalyst this time. Zero reason this is even worth $15 let alone in the $20's. They are 7th in the world when it comes to growing capacity. Lower than CGC, APHA, ACB, TLRY, TGOD, & CWEB. They are 10th...yes 10th when it comes to revenues. They are lower than CGC, APHA, ACB, CNTTF, NBEV, TLRY, CWEB, OGRMF, & FIRE. So they are just barely a top ten revenue producing company in the space. Yet they command the highest premium to their shares?! This guy breaks it down the best ( and this video was made before the run up monday )
no one nails the top. I bought my puts when it was curling over at $22.50
You should get that opportunity. Id set a limit order good til canceled
The last daily higher low was down at $14. It's been a straight shot up since and that's not a good thing now. Lack of support means expect a strong pull back.
it is going lower no joke. Check out my post for a few days ago. Those are my reasons for a bearish stance. Try and give me a bullish entry level here with a good stop....I will wait....last daily low was $14 what are longs going to do? Buy ALLL the way up here and put a stop at 50%? Get real
This is heading back down. No support on the daily established since $14. Way to overheated
I am confident in my position. If longs are wrong, which odds are against them at this point, they will be the ones in trouble
Yeah I'm short for reasons I suggested. Claytrader shorting, citron shorting, Cramer tells his viewers NOT to buy up here, zacks has a sell on it, investorsoalace recommending users to buy puts on it. Smart money knows what's coming. Dumb money buying the top still. Bagholders will be made this week
Why would they want to buy it at $19 if the shares fall, which they will, and they can get them much cheaper by negotiation? Think about it
I've followed CRON for over 2 years now. I may be new to the board but not to the stock. I trade it and with everything here it is extremely unfavorable to the bulls now. Not enough upside potential compared to the high chance of it dropping. It went up 3 dollars...im swinging shorts with target of 14. The fact that it just went higher just makes me scale in even heavier
think about this though. the cheaper cron is in share price the cheaper it is for MO to buy more. They don't want the price to be higher right now
Saw this posted on another forum site and thought it was a very sobering thought.
The last daily higher low was alllllll the way back at ~$14usd. A 54% increase from that last daily low to the high today without any consolidation. We all know that we haven't gotten any substantial consolidation with CRON since its run straight up. In 27 trading days only 2 of those trading days formed a lower close on the daily than the day prior. Monthly RSI - 79.75....Weekly RSI - 78.29...Daily RSI - 85.97...4HR RSI - 73.93...bearish divergence formed on the 1hr and 4hr rsi....volume climax with a shooting star daily candle. Now fundamentally, the Altria deal price was for $12.25....no reason that CRON should be worth almost double that when the partnership still didn't go through and they don't have the cash. Not just that, but the valuation at these levels for CRON has them trading at a 5x greater multiple to their earnings than CGC (which is absolutely absurd). CGC is earning over 7x in revs than CRON and already has over twice as much cash in hand than CRON is waiting to get in the future.
Also Cramer came out Monday saying for his viewers to wait to buy after a pullback in down the road and that he can't justify these levels. Zack's has a sell on CRON. Now Citron shorting this. Anyone in their right mind knows this is way too high for where it should be and we formed no daily support in a 54% move and hardly any support in ~120%. Im joining them and opening shorts.
Monthly RSI - 77.67
Weekly RSI - 75.13
Daily RSI - 83.86
4 Hr RSI - 79.65
1 Hr RSI - 81.70
30 min RSI - 74.87
See a trend here? Overbought on the larger time frame (monthly) to the shorter time frame (30 minute). If you are thinking about entering here, I personally would reconsider and wait for things to pull back and cool off on the daily at least.
Also keep in mind that oil for weeks now has been dictating the overall markets and today it just lost its daily uptrend. SPY also is on the brink of losing its daily uptrend since it just lost the hourly uptrend. Bad reports from NVDA and CAT show that the global economy is skiing down much worse than we thought thanks to the us/China tariff battle. If wr get more bad news tomorrow expect the S&P500 to pull back and head to retest the lows and it'll bring CRON down too since that would head us back down to bear market territory again.
Express caution at this time
That is some straight up crazy talk. Put down the joint and use your brain. A $16 current price in usd already has them at a PE ratio of 303 and EV of 266x....so basically you are saying they should be trading in the thousands times their earnings....unrealistic. it's already the most overvalued stock in the space. Pull back coming
I think anyone expecting bullish activity at earnings is really going to be feeling some pain. Aurora (the highest generating revenue company in the sector) came out and lowered guidance for the quarter from 55 million to 50 million. That's a 10% decrease. What does that imply? That sales have slowed down since the first month so it's not looking good honestly especially for a company like cronos that hardly is generating much revs right now. Way overvalued up here at these prices imo
I see that it was only a pure pump. If be super cautious at these levels as a bull. For the previous reasons that I stated and also on a macro economics level. We aren't in the clear back to a bull market yet. We still have no trade deal with China, multiple countries are showing slowing growth (definitely not a good thing), the brexit mess, and companies in our own country are making significantly less revs as of late. The writing is on the wall to be cautious and those that throw that caution to the wind will be the ones that get burned
CRON is currently overbought on the fundamentals and technicals.
Lets check the technicals
Monthly RSI @ 75.07
Weekly RSI @ 70.62
Daily RSI @ 76.9
So for long term entries we are too overbought and due for consolidation on the longer term time frames.
There is also bearish divergence on the RSI daily chart for a bigger picture point of view and for a midterm point of view (swing trades) the 1hr & 4hr chart both are showing bearish divergence on the RSI.
The massive run up on the daily chart cannot be sustained and we are due for some long term consolidation (multiple days to weeks). Another thing to note is the daily candle stick on Friday. It's a bearish hanging man reversal candle.
As for the fundamentals, CRON right now is trading at a PE ratio of 303 and a EV of 266x. It is now the most overvalued company in this space.
My consensus on this stock is that in the mid term (weeks) it is too overbought on both the technicals and fundamentals. If anyone is considering selling now would be a good time to start shaving off or exit the position entirely, exert patience, and rebuy in a few weeks to months at a cheaper price.
I'm not sure now that they are trying to be a fully reporting company. They might wait until the numbers are audited. TDA has them set to report earnings on Feb. 11th
That would make more sense. The way you stated it was those quarter gumball machines since you said "quarter candy machines" not actual snack and candy ones. I know those can do very well especially in the right area. College campus for example probably made boatloads off of them
the market as a whole needs to consolidate
60k off candy quarter machines? LOL! no chance that is true. If it were, he would have to sell $164 worth of candy each and every day. That would have to be 656 customers each day minimum. I can't even remember the last time I saw anyone use one.
I know 3 people in the route business and another guy that sold his (worked for him for a few months in my younger years). I know all about that type of business.....
This is only a 25k note though. Not the $1.4 million dollar note. So not big news and the only up day we had was today on a week aside from Fridays sideways trading. It's just my opinion, but I guess most people will sell this news
I'm not saying they don't. I'm saying it'll be a sell the news like the vending machine. News was leaked early and then we got a sell the news reaction bc of it
I'm honestly surprised that people are buying today without knowing the verdict. I guess that it'll be a sell the news event then
Did anyone find out the verdict?
To my knowledge there is no court date or any news of when they will settle the remaining outstanding debt to the larger note. I've been waiting to hear about it each day now since they it finally said back in early 2018 that they would have it done by the end of the year...we are 2 weeks in now and still not a peep...
From what I understand this case refers to $25k note and not the large note by sign and drive correct? So this case won't effect the worst and largest part of the debt
It's a made up number...they projected to do 22 million for 2018.
That post about 30 million was pulled out of thin air and is honestly doing all bulls a disservice by spreading misinformation
I'm over hearing the 30 million in sales as if they have happened. News flash. They haven't released revenues so that is a guess. Secondly you are setting up and bullish move to fail if they miss that number. I personally don't think they will hit it. Your effort with that number is counterintuitive
They have not released revenues for 2018 yet....please stop using that figure as if it is verified...and I'm saying this as someone bullish here. They forecasted to do 22 million in 2018. Anything above that is beating their projections. Let's wait and see what the numbers are before stated what you said as fact
That is why the revenue has been audited and verified twice now
Again same notes that where there in 2017, except more debt has been removed from the books. I feel like I am talking to a wall here
Those notes were on the books in 2017 EXCEPT more debt was resolved in 2018. Debt has been decreasing not increasing. Revenues have been audited for almost 2 years now. Audit was NEVER withdrawn. Uplisting was due to the fact that they needed 2 years of audited fins, which they will have the 2nd full year completed here shortly.
These are the facts. Again, to suggest that the PPS should go down to 2017 levels is absurd given the fact that the company has made significant progress since then.
wrong. .06 means they would be trading at a valuation equal to 2018 yearly revs. Its not going that low. It traded in between .05-.08 for a whole six months in 2017 when they had 60% less revenues, no audit, more debt on the books, and less company assets.
Now they have grown revenues significantly, completed almost 2 years of audited fins, removed a good portion of debt from the books, and acquired company assets. To even think that this is somehow worse off as a company as it was in 2017 is just plain ignorant. They have grown tremendously in 2018 and 2019 will be no different
They are ALL penny stocks in the US. Every single one of them with the exception of TLRY