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Actually the market is acting as predicted. The CEO of a company could be a hairless goat with 3 legs and upon announcement of his resignation or removal the stock price of that company would still temporarily decline. This happens without fail.
Does anyone here remember the drama surrounding BBRY, formerly RIMM, when it's original co-CEO's resigned? Large shareholders, swing traders, and even company evangelists were begging for them to step aside and hand the throne over to a new, single CEO. The day they finally announced their departure, guess what happened? The stock price sunk like a rock.
Although I'm still uneasy about this ATTBF change, the fact that we saw plenty of investors freaking out and dumping doesn't really say as much as some of you might expect. That's just the consequence of the fear and anxiety that's always present when a CEO waves goodbye.
I hate to say this, but feel I'm being far less than honest if I don't.
#1) I didn't expect this. If Mike was going to step down from the mighty throne of Abattis CEO I wouldn't have expected it for a few years down the road.
#2) I don't like this. Whatever Abattis has been working on the past several months is still locked behind closed doors. The company has been quite silent, other than when necessary to combat Nick's absurdities. Now, out of the blue, the leader of the pack runs off into the woods.
How is what? You predicted that ATTBF would keep dropping when the entire sector was getting pummeled to little pieces? Would you also like a globally recognized award for completing a child's dot-to-dot exercise book? It's about the same difficulty. Just making simple connections.
I can also tell you don't know much about valuation. This isn't a blue chip stock trying to expand its manufacturing arms. This is a tech stock in an immature industry.
HC is straightening its course and the U.S. is starting to wake up. If you think ATTBF is heading to a valuation of 3 million with anything less than a disastrous revelation, you're out of touch with reality and I question if you've completed any real DD.
Yes, I'm happy to wait. I really do believe Mike is trying to cook a gourmet meal with the kitchen doors closed shut. We can't see or smell it yet, but when the time comes, it's going to be delicious.
There isn't a lot of room for ATTBF to sink further without disastrous news. Your former 5 cents per share projection puts a valuation of 3 million on ATTBF, which isn't going to happen unless we encounter something like a crystal clear abundance of evidence that points toward Abattis being a planned scam from day 1. There is no such evidence that exists today on that front.
It's also hilarious just how much faith is placed in charts. If anyone has their eyes glued to the technicals while not accounting for the fundamentals in penny stocks they might as well try competing in the Tour de France with training wheels.
You can still buy ATTBF around 13 cents. Opportunity is pounding away at your door and pushing the doorbell ferociously, but it's not going to stay there forever.
Great! Thanks for the hard work.
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Filling orders with ATTBF is always weird. If I put in a limit order to buy at 13 cents and the ask sits in the mid 12's, it probably still wouldn't get filled today. Just speculation though, based on my other experiences.
Great information, thank you!
.3% THC is the limit last I heard. I remember this from reading some of the outrage over mixtures that have less than 1% THC and substantially more CBD (say 20%), but because the THC slightly exceeds .3%, it was still illegal for production and distribution. Someone may be able to expand on this?
Down about 3.5% today. Wow! Thank you for announcing and reminding everyone what a great buying opportunity ATTBF is right now for patient investors. 13 cents or less, these are fantastic entry prices.
I'm still awaiting a credible argument from those claiming ATTBF was a planned pump and dump operation. Good luck. I'm not sure how you're going to support your claims with evidence.
For those ripping out kleenex boxes after seeing ATTBF trades in the 12 cent range, take it easy. This stock was home to many traders that were short sighted and impatient. The inevitable consequence was always going to be a major price dip, because the Abattis business plan is very long term. Don't forget that the volume we are seeing today is nearly insignificant and it only takes a solid push to start a buying frenzy.
If you're voicing your frustration while coming to understand the need to take responsibility for your own investment decisions, that's fine. At least you've walked away with one of the most important lessons to learn if you're going to dabble around with stocks.
Disagree with your assessment of Abattis. No one in management ran off as the new Uncle Pennybags due to our investment.
Bankruptcy? Don't anticipate the curtains to fall before the plot of the performance is revealed. I understand your dissatisfaction but you're choosing an odd time to give up.
I own plenty ATTBF and plan to pick up a lot more if this keeps falling toward 10 cents. 5 cents is for oblivious dreamers. It's a great price to wait for if you want to be stuck forever frowning on the sidelines.
Not today, but I've slapped the ask several times in the past and walked away with empty hands. Out of all the stocks I've traded, ATTBF is the most frustrating to strategize orders.
Okay I have to ask. Who here would like to part ways with their ATTBF shares for 13 cents right now? Maybe I'm dealing with limitations of my brokerage fulfilling orders directly through the Canadian exchange but I can never execute a trade at the low or even mid prices of the trading day.
I'll happily buy another round at 13 cents or lower.
I do think elaboration upon the potential benefits that this manufacturing partnership will bring would have pushed us green and into the 6 digit volume territory. Then again, maybe that's all still coming.
I'm a little disappointed myself but I guess there's nothing really gained or lost so far.
Someone just knocked down $135 and change to bring ATTBF to the low of the day. No sweat.
I'm just going to throw this out there because I think this is having a serious negative impact right now on the entire MJ sector. That especially includes ATTBF and any company awaiting approval from HC.
http://www.theglobeandmail.com/report-on-business/health-minister-ambrose-mum-on-cen-biotech-problems/article22473461/
"One bad apple can ruin the entire bunch."
I don't think anything has been permanently ruined here, but both regulators and investors are now going to be overly cautious. Some bad companies need to be weeded (no pun intended) out for good before we can all move forward with full confidence.
Agree. I'm not necessarily expecting it, but at the same time wouldn't be surprised to see a beautiful chain of P.R. and strategy clarification from ATTBF throughout the rest of Jan and Feb.
You had some great questions about this. I'm especially wondering about the few million shares that flew out the door, and thinking this news has everything to do with it.
Unfortunately I think that's a big part of the reason that volume is practically nonexistent today. Too many unknowns. The implications from this news are still a complete mystery. And even day trading opportunists hesitate to buy and flip this today because the previous lengthy period of silence from the company still has them anxious.
I saw that small trade to boost the price too. Who cares. ATTBF still proved it could hold the 13 cent support.
Haha great. Yes Affinor is permitted to engage in the basic elements of modern capitalism. That's not a victory for Affinor over Abattis. It's an obvious privilege that every entity has in this country.
Are you convinced that the CEO of Affinor is anything more than Nick's puppet?
150 shares at the close to push the closing price to 16 cents. Haha. What was that all about?
Patience is a Virtue?
But frankly, I know what you mean. Looking forward to an update too, which is hopefully soon.
Pretty sure I saw this one months ago, yes. They interview Mike and Michelle and do a Phytalab tour right?
Also going to take a wild guess and say you're not an Alan Brochstein fan haha.
No ATTBF news, and no real volume today. Oh well, there will be other days.
Marvelous Monday should tell us what we need to know. Interested to see if MINE can stay green after we open up to a new week. GLTA.
Actually, here's a better picture comparison with more similarities (all IMHO of course).
This was taken from the article previous shared that referenced GrowthStar (http://www.ledhorticulture.com/are-medical-marijuana-producers-going-led/)
Now, compare that picture to Brayden's on Twitter (3rd in the grouping) about Abattis:
http://pic.twitter.com/yRkl6L3IzX
Agree about the vertical component. But compare the video here...
http://growthstarled.com/blog-page/
...To the third photo provided by Brayden in his Twitter post on Nov 19 here:
http://pic.twitter.com/yRkl6L3IzX
Some very distinct similarities.
So the registrant of growthstarled.com is a Mr. David Schincariol, and his email provided is associated with Maremonte Group in Burlington, Ontario. I'm not finding any direct links with David Schincariol and Mike, but David is also linked with LED Canada and the Promerita Group.
The Promerita Group happens to be just an 11 minute walk (yes, that's right - a "walk," not drive) from Abattis HQ in Vancouver. And if the name itself doesn't give it away, just check out the LED Canada site and you'll quickly see the technology relation. David was the Interim President from July 2013 – April 2014, and they are also based in Vancouver.
This essentially proves nothing, I know. But at least I'm starting to see how the dots may be connected here.
I'm glad you're fully confident because I like what I see here.
http://growthstarled.com/2015/01/growthstar-mmj-mcob-led-growlight-trials-day-29/
There's a semi panoramic view of the room. If ATTBF doesn't have a hand in this, you'd have to admit that it's eerily similar.
I'll happily admit that even yesterday I was only sold 50/50 on the prospect of that being an Abattis operation. But after doing more research and trying to piece the puzzle together, I think it's a lot more likely.
http://www.ledhorticulture.com/are-medical-marijuana-producers-going-led/
This article also states...
"This Vancouver producer asked to stay anonymous because of strict new Medical marijuana advertising laws in Canada that require them not to make marijuana products so appealing."
Wouldn't these tests have been initiated around the time that Mike removed the "Abattis Report" promotion, specifically to make sure any potential spark of trouble with HC would be mitigated?
There were also a few investors that regularly emailed Mike and ATTBF I.R. saying in October that some big news would be released in the upcoming months. The hint was related to product testing. It's very possible that the operation shown in those pictures is exactly what Mike was hoping to announce, but decided against it to ensure that ATTBF wouldn't be swatting the Canada law hornet's nest.
"But instead of trying to attack others, possibly you could demand your CEO start earning his keep and start focusing on building and securing a future. That's what Nick is doing, regardless of any of this."
I think you're confusing the managerial figures of the two companies. Mike is trying to build and secure a future. Nick is too busy playing immature power games and potentially trying to steal from Mike and ATTBF.
I remember not too long ago when you could snatch MINE for 1/3 a penny. Congrats everyone.
Hope Vitamin Fizz keeps finding new vendors.
Agreed. I enjoy reading his articles too and think there's often some very useful information to be taken away. But we have to remember that CP is paid to stir the pot and likely also deliver one-sided stories in some cases.
I think we see eye to eye on one of your points. Sure, who cares if Nick opened up another lab or for what reasons he may lead others to believe that he did so? That’s a non-issue by itself.
“So a Lab is a Lab, is a Lab. They need doors, windows, microscopes and equipment. Are there things that are the same or similar in both. Maybe. To meet the same standards or requirements to be Weed Labs one would think that the government would want certain tests run, so probably there are. There are more labs than these. Do they have similar equipment or facilities...Probably.”
Now I have a hard time taking you seriously. You just nearly exhausted yourself on the soapbox talking about the dangers of assuming too much based on all the “IF’s.” Do you not realize how many “IF’s” you just cracked open here? Who are you? How familiar are you with IP pertaining to testing labs? What do you know about Washington’s plan to develop uniform procedures and codes in the near future? What kind of IP legal experience do you have?
Unless there’s some brilliant revelation about your experience or inside information from ATTBF that you possess and plan to bring to the table, I don’t know how you can claim you’re even remotely qualified to issue this conclusion:
“Looks like a vindictive waste of share holders money and energy. Lack of feedback...keeping hush, hush...or now running scared?”
Sounds to me like you’re screaming “We're being attacked by UFOs” without knowing what a passenger jet looks like.
"I don't think I'll waste a cent on a man who is in charge of a company who is more self interested in Revenge than a Promising Future Going Forward!"
Then I really hope you're not backing Nick. You just defined him perfectly.
Mike Withrow wanted to move forward with building his empire while Nick started pillaging little cities at ATTBF's borders. But Nick only has a massive ego. Not a dominant army. He's going to get crushed by Mike in time. If you want to wait around in "Nick Country" and suffer his downfall, be my guest.