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If you are looking at this stock you are crazy not to buy at 0024-0026. #1 on breakout boards, getting lots of attention and much more attention in days to come. People will look at the stock on OTC markets and see the ridiculously low market cap and their 4 million annual revenues does not make sense. Then they will look at the chart and see it's starting to go up from a very low price in relation to the 6 month-1 year chart. Then they will see the recent PR's and news regarding huge success with their new business. The stock will be over a penny before the 10-k just from technical analysts buying based on the chart alone. Currently 55 million volume, still pretty low. I've been watching the price action, not much dumping going on, they are letting this rise. As soon as a group comes in here we will see 100m volume and 50-75% gain in 1 day. All signals point to up.
Thanks for the 0024's! That got my cost average down to 0016
Stocks like this break out. If you don't want to be in a breakout stock then invest your money somewhere you believe in. I don't care about the A/S increase right now, the CEO or even the share price. All that matters in a breakout is the gains, whether you're trading shares that cost .0001 or $1,000 putting money in the bank is all that really matters. And I've been closely following this company for almost 3 years, there's a story painted in my head about their successes and failures and the share price history, and given currently they are most likely seeing great success and the share price is all time low, I've been saying here it's time to buy at this low price.
On the breakout board
A stock like this won't go much lower especially not to .0010 unless there's terrible news like a R/S to cause such dumping. The dumping on the previous A/S increase has already mostly been done.
But also, a stock like this won't go to .002 easily unless everything comes together with perfect timing and is overbought. Aim for .01, that would put it at a 15 million market cap, more on the lines of where it might be with increased revenues, and that rise in price probably won't happen until October-December. Before the 10-k you should not hope for more than 0050. I plan to sell over half my shares at 003 and the rest up to 005, this stock gets dumped on hard after fast increases and never holds gains because their revenues never go up.
SGMD is once again my largest position, and I still want to load more 18's. But it can always go lower, if I can get 16's I'm going to get another 2 mil shares. But I really don't think anyone will dump 16's before it goes over 003.
When comparing share structures and market caps vs revenues, and previous 6 month -1 year highs vs other pennies in the cannabis sector that have ran big in the past 3 months, sgmd should be flying very soon. It makes no sense to be worth only 2.5 million with their financials. I think the main reason the pps is down under 003 is because of the A/S increase and that created fear. But it's still lingering 40% under that price where it was before the announcement. It has to move up soon. Unfortunately all these revenues they have been touting and tweeting about will not be proven until the next filing, which is the 10k in almost 4 months. But still, even without the new revenues the stock should move up, it's way undervalued and anticipation and hype alone should get the price back to the 30's.
I think this will rally to .0030-.0050 range soon. Because the share structure and market cap are currently primed for a rally. Even with no revenues this is undervalued, but they have ~4 million annual revenues, they are worth much more than 2.5 mil. Bottom is about .0016, if it goes any lower it won't last more than a day IMO. When there's a gap of dilutive selling buyers will pump the price +50-100% in 1-2 days easily, just like many stocks recently with similar share structures (around 1 billion and 2 mil market cap).
.01+ before September. 10-Q will be filed ~August 20 showing all the revenues they have been touting since the covid shutdown with significant profits.
0018 wasn't the bottom
I hope this pos goes to .0015 so I can buy more
It will stop, it always does. And the price will fly. Just no way to tell when. But the chart looks primed, I didn't expect higher than 0012 today but I do expect it next monday or tuesday. When conversions take a break the same day as buyers come in, there will be no stopping it except flippers.
I was expecting this move for a few days now, but also there is a bit of resistance, maybe dilution maybe flippers who knows. I don't think it will hold over .0013 today, maybe .0012 close. But next week, should easily hit .0017-.002 Monday or Tuesday, then day #3 higher than .002. I have no opinion after that, all I know is out of the 130 or so pennies I watch and trade, GRSO has the largest volatility and potential at the moment based on comparisons to other stocks with similar share structures and market caps. Look at the 1 year chart and look at the recent moves. Hundreds of %'s, 0008 to 0040+ this thing moves.
Doesn't matter unless you're an investor. Traders will pump this up again just like the previous runs from this level. When a stock moves up or down especially penny stocks, they don't move because of what the company is doing, they move because people are pumping and dumping.
I've been watching the stock. I lost a little buying at .0030 with an update over a month ago. Didn't like the large # of shares being sold. I'm starting to look at getting a starter down here. I would like to see .0015 but I dunno if it will go that low.
I've been comparing a lot of similar stocks (similar share structures and market caps, vs revenues, news, etc). Recently some sub penny and trips stocks have been moving up hundreds or even thousands of % for no reason. Groups of players out there are picking these low market cap and forgotten stocks and pumping them up. Examples: INQD, APRU, NTRR, GRSO and many others have seen 400%+ gains. I notice the things they have in common, especially being down 90%+ on their 1 year charts and having low market caps. Also they have 1 billion or so o/s. SGMD is looking good by comparison. If those pumpers come over here they can push it up 300% or higher in 2-3 days. News buyers don't seem to be around much though, so I don't expect a news update to get the price up very high before dropping. Timing is impossible with these pumper groups, they choose stocks not based on news or fundamentals. Watch for sudden movement on big volume, or a new low to buy into.
Only 1 million market cap at this price. O/S only 1 billion. Stocks like this are seeing 500-1000% gains lately or higher. GRSO had it's move already a few weeks ago (about 400% gain), but it should get those pumpers again. All fundamentals aside, just look at the potential on the 1 year chart. This is obviously a floor down here, just waiting to be pushed. Look at NTRR, INQD, APRU, HIPH. There are many others that fly from such low prices. What do they all have in common before running? Share structure (~ 1B outstanding), low market cap, and way down from high on 1 year or 6 month charts. The only missing ingredient is the groups of people out there that push the stock - in other words, timing.
Wow a post from IG I agree with. But one thing about marijuana is that the placebo affect is probably much stronger than most substances and that goes a long way IMO. Maybe the high helps to focus attention elsewhere rather than on the pain. Also it really does help with "mental pain". Depending on the strain it can immediately change one's mood and help shift focus to something positive.
Trading a bit different today. More early AM buyers than usual even with large quantity on the ask as usual. Bid was .011 and ask .012 at open but a sell large sell order was already placed before open for .011. Pretty aggressive buying .01-.0109 compared to the last couple weeks. Several big gainers in the sector are down today... pumping groups and other buyers may be coming over here and other stocks. Chart has been looking good for a while now with great support... minimal downside vs upside. I think any group that comes to this stock will easily be able to push over resistance to .012, will likely happen in a flash. Because of this flat chart and recent big gainers in the sector - when .012 breaks it will definitely draw attention and we may get some massive volume. If sellers happen to be off on that day we will break up close to .02 or higher as we did in previous runs.
This will likely move up 70-100% tomorrow or Friday. If not I'm guessing very likely next week. Looks like easy money buying at .0008 and accumulating lower if possible
Someone got 850k 0007's LOL. Come on dump more than than please
As part of his employment contract, he is not allowed to discuss anything to do with his own trades, money, or price predictions.
All talk aside regarding facts and opinions about the company... this stock runs up high after going low. Nobody knows who's buying and selling, pumping and dumping, but it has potential to go very high whether or not it's a trick or scam. Twice it ran up big from about this price. It's a gamble but there's big potential behind the price movements. There's a lot of eyes on this stock and a lot of interest even when volume is low. However, definitely not a stock to invest in long term until things become clear IMO.
That's what I did last time before it ran to .035, ended up buying at .013 (60% higher) because I wanted shares 10-15% cheaper
Possibly yes, possibly no. Everyone is entitled to speculative opinion here. But I think more than 50% chance is not worthless because it is patented.
If the cream really works, they have the patent on it, the company is worth a lot more than a few million. It can be sold a lot of ways... they will only need FDA approval to sell it as a drug and claim its effect on specific skin conditions. Do you know how many cannabis products are out there and how well they sell? Multi billion dollar business, and lots of it being sold in multiple states in the US under state law. It has value if it works, and none of us know if it does or not, only Dr. Baruch does IMO. The patent is very valuable because it is needed before mass marketing. It means they can continue their business plan with this product, and in the future it could be a prescription drug after they've already made millions on it.
IG is using the word "worthless", which is a grossly pessimistic word and is totally untrue. What would be more accurate is the word "useless", but only in the present. When the phase 1 trial completes and the product is shown to be safe, the patent will be worth more than whatever it's worth currently. If and when a phase 2 trial completes and the product is shown to be effective, the patent will be worth much much more. The worthless claim and the 1 billion claim are both extremely exaggerated. I'd say currently the patent might be worth anywhere from 1 to 10 million to some companies that believe they can monetize the product, but only because it is a unique patent out there in the world. There's really no way to value a particular patent. At current price the company is worth 4 million, and even without the psoriasis patent the company is probably worth more.
Wasn't she talking about another company in that quote?
Not true. Acquisitions are usually done with restricted shares. I think the selling is from a buyer/ buyers that bought millions of shares somewhere from .0008-.0030 that didn't have enough liquidity to sell all the shares sooner. Since news came out, they had the buyers to dump. It's common for a penny stock to drop on news because buyers allow big selling to occur without tanking the price too much
It SHOULD go to 002's. It went up for almost no reason other than a correction from being pounded down. On the up, 002's were pretty much skipped. Hit 002's end of one day, beginning of next day immediately went to 003's and over 005's. No trading in the 002's yet, it's basically like a gap that needs to be filled.
5 million bid right now
Fidelity doesn't allow any pennies with stop signs to be purchased. This is why I went with Etrade over a year ago, there's a lot of good buy opportunities on stocks with stop signs.
Only a few weeks ago there was 50 million on the bid at .0010 and it got whacked.
There was no hint of any secret. The end of the stream they were talking about improving the stream he called "this thing" to make it look better, probably because the quality of video and sound is low.
It's best to assume that for some reason, they did not want to PR about the patent grant. The very day of the grant is the day they filed form 15 to deregister common stock and go dark. I don't see this as coincidence because even prior to going dark they obviously wanted to keep us in the dark, saying as little as they had to legally, nothing more. The reason for wanting to keep everything secret is the real question. Now they do not have to file anything or tell us anything legally. Why?? Some here would say it's because they are going out of business or something similar, and they don't want to say anything that would cause shareholders to buy and ultimately lose their investment. Others would say buyouts, etc are in process and all will be revealed soon and the price will go to the moon. Or maybe going dark on the day of the grant was actually coincidence and they were gonna file that form that day no matter the status of the grant, and they are only dark to cost save (temporary) and they are continuing operations.
I myself am worried they have a big plan but want to take all the money, leaving shareholders with nothing. Could they achieve this by going private? Is deregistering common stock the first step in going private, so they can sell the company for way more than the current market cap and get rich and retire? They would have to buy back all the shares held by shareholders but it would be for a fraction of they could make selling the company, right? Can this be done, is it legal? It's my main concern. For now until then this stock is a game/gamble, excellent trading stock with huge volatility for short term gains so that's why I'm here.
Everything they have said in the past 3 years and been extremely forward looking, especially with revenues. If history repeats itself, everything you said and suspect is probably true and accurate. I like your point about the profits, but it is definitely believable because the demand for cannabis is very high right now. Just last week my friend's favorite weed store in our area was out of everything he liked - the best stuff. Don't know what kind of product Budcars is selling but if it's top shelf stuff, they can get top dollar for it and make that profit.
April 16 PR :
Based on data from its current operations as well as trends in the LA region, management believes that each additional new BudCars hub will provide an annual revenue run-rate of $15 million to $20 million as a moderate baseline estimate.
The Company also notes that it is seeing a consistent 19% to 20% net profit on sales at its Sacramento locations and believes this will translate to new locations, fueling further expansion potential for up to as many as 20 new BudCars hubs across California over the coming 18-24 months driven primarily by cash from operations.
That's what was said in a recent filing. Might have said 25%, but it was 20 something
Some powerful buying the past few minutes. Would be nice for this to break .016, that will be bullish IMO for going over .02 early next week if not today. Just another 15% to .016
Anyone notice on the filing the O/S as of 3 days ago is over 1 billion now? I think they will continue to dilute even if they are making decent money, because it's still more money and they want it and need it for liabilities, expansion, and pay, and the 20% profits alone isn't enough. I'm out until the price goes to .0020 or less.
They are not in a position to buy back shares right now - they are making good money and know they can make a lot more by expansion. If I was the CEO, at a time like this I wouldn't care about the share price or even shareholders right now - I would do what is best for the company for the future. If what they are doing is working, then it can work in Los Angeles and as they said, unlimited potential in all areas. Just think about it, it's simply just cannabis sales, the market is unlimited for it and demand is high. Spend all focus and money on expansion right now - make a bunch of money, and then invest that money into the stock to increase shareholder value, up the stock price and get real non-toxic financing to expand more and faster. I believe based on filings alone this is what is going to happen.
The O/S is 845 million as of 3 weeks ago, market cap 2.5 million. This is a very low market cap. Even if O/S increases 10% every month, the market cap at current price will only be 3-4 million in several months if price stays here. Still low for a company making 10-30 million in annual revenues and profitable. This is a good buy. The problem is there isn't enough interest yet to bring the price up and hold gains. Yes the company does not have a good reputation, I myself was very upset with this company after they cancelled their plan they worked on for 2 years. However, they are in a profitable, and simple business now of selling/ delivering product, and the timing of their decision turns out to be excellent with the massive increased demand for cannabis. As they expand, they will get new customers every day and many of those customers will continue to order product for delivery for years to come - coronavirus isn't going away. We will be social distancing for at least a year or two until we have defeated the virus through immunity and treatments. This company is now on a better path and their revenue predictions should be true. Just need the proof in the filings to gain real investors and have some real price gains. For now it's a game/gamble in the short term.