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Thank you and good luck to you sir. Opening bids sitting at 4.45 right now so we may be battling the support line starting on the open! I would wait until it retraces to 4.20's to buy but looks like we are breaking this support today. $5 coming TODAY
that thats what i dont get... If tweed cant survive due to competition, how is ANYONE going to survive? If there's not enough customers for tweed and it shows in their earnings report, then ALL other MMJ stocks wil PLUMMET... many to ZERO.
Of course i don't believe this to be the truth, but people using this as an argument, while at the same time touting other MMJ stocks that are miles away from selling a gram of weed, just flat out have it backwards.
no insiders sold high and bought low, they only bought low. ZERO insider selling so far
I think he is just being realistic... it has gapped up each of the past 2 days and considering this is the most anticipated stock in probably the hottest new sector, people have to realize that it is going to behave like a super bull that has been let out of the gates. Today's gain was modest compared to monday so there is good reason to believe it will happen again tomorrow
a couple weeks at this rate and u will look back and say "holy shnikies" ... it will look ballistic on a longer term chart but it has only been trading for 3 days so cut it some slack lol
ok here's my technical analysis for tomorrow since im on a roll lol...
Tomorrow we have a huge battle on our hands to take out which will be the strongest resistance yet. 4.45 on the low end (5 x 0.89) and 4.60 on the high end (friday's opening price).
Tomorrow morning gap up as usual somewhere between 4.05-4.20
Scenario #1) Gap up to upper teens, maybe 4.20 and off to the races until we hit 4.45 where the resistance begins. If we get to 4.45 within the first hour of trading, we will be breaking this resistance during tomorrows trading day. It will struggle for a few hours to get past the 4.45-4.60 range. If broken, we will blast though 5.00 slowing down at next resistance of 5.25-5.30 and likely close close to 5.00 after profit taking.
Scenario #2) Gap up to 4.05 range and slower beginning. Eventual rally will bring it up to 4.45 where it will struggle. If we are range bound between 4.30 and 4.50 for too long, we will not be breaking resistance tomorrow and will likely close between 4.25-4.40 ... Although this seems like a worse outcome, it will create a healthier trend than the parabolic trend it is currently experiencing.
Bottom line... tomorrow is the biggest resistance yet. 4.45-4.60 ... Do not buy within that range. Buy before or after. Just my 2 cents. Good luck and happy trading gents.
never said you were, i was just saying that many will and it will drive the price down at the end of the day. I am holding too, i just like to speculate ;)
good strategy, but dont wait til the last minute... many are thinking the same... i would put in bids at 3.85 and 3.90 and just let them get filled.
more like day trader take your profits hour... this will close close to or slightly below 4.00... tomorrow more fireworks :)
It's funny how much better everyone gets along when the price is rising lol
Markets are tough to explain, but i would attribute it to a number of factors. a lot of it has to do with the 0.89 valuation that was lobbed around for weeks before the IPO, so an opener of 4.60 took traders by surprise.
After the pre-market bids were filled, a drop ensued, and since there was such a discrepancy between what people thought the opening price would be, and what it actually was, when the knife started falling, nobody wanted to catch it cause there was no reference for fair price. It may well have been the insider buying that stopped the falling knife.
You add to this that Americans did not have access until monday, and the story about seized product, you can start to make sense of the opening day. Just my 2 cents.
I think we are range-bound for today between 4.00-4.20 ... there will be small selloff around 3pm as day traders take profits... probably will settle around 4.00 ... tomorrow we will resume the march toward 4.50-4.60 IMO
there are total 35 million available. roughly 12 million are held by the owners of the company and they wont be selling anytime soon as they are just getting started and they know the potential of the sector when legalization happens. So that leaves 23 million shares. These are being distributed by the underwriters who supply the funding for the project to move forward. There has been huge volume, 9 million on friday, 7 million yesterday, almost 5 million already today. Obviously there is some flipping going on there, but considering its a brand new company wich huge upside and we havent even seen an earnings report, i would say most are holding. How many shares do the underwriters have left to sell? your guess is as good as mine, but i would say considerably less than the 23 million they started with. After that it all a bidding war.
yes the price seems to linger each time it gets to the next multiple. 2.70 was solid support on friday and monday morning before it shot up, and after reaching nearly 4, it fell back but was bought a ton at 3.55-3.60 range... next will be 4.50-60 which was the opening price. once that is broken, it will remain as a huge support level going forward.
a stock split? i doubt that will happen since they did a consolidation already pre-IPO. the amount of available shares is drying up quick with this kind of volume
this is also very realistic. I just think that once we double from the bottom there will be profit taking... but so many are waiting for a dip that it will be small and short lived.
It may hit 6 by next week. Considering CANV can go from 20 per share to 180 per share in a month on speculation, all we need is one good earnings report to send this thing to 30+ .... there will be a bubble in this stock so set your targets so you can escape during the mania that will most certainly ensue at one point or another.
I agree many are overly optimistic, and i think their attitude is what is causing you to be overly pessimistic. I think you have the right approach to trading, but this particular stock has huge momentum/sentiment and i think it will slow down, but not before we best the opening price of 4.60. IMHO
who? the underwriters? they have been "dumping" shares constantly since friday and they are being gobbled up quickly
depending how today finishes. Next support/resistance level will be at the opening price of 4.60 ... if we rally close to that today, i would say tomorrow might be an even day maybe even slightly red. If we finish today between 4 and 4.20, expect another rally tomorrow until we get to 4.50-4.60
so i guess u are selling now seeings how we are over 4 and you believe we will be back under 3 this week? maybe its just me but this stock is brand new and trading crazy volume... if it even gets back to 3.55, which i dont think it will given sentiment/volume, there is huge support there.
theres maybe 8 million shares left outstanding and at this rate they will be gone by this afternoon... then theres no shares left to dump. Econ 101
you just keep beating that drum... ALL IN2 has disappeared and its only a matter of time before you do too lol
the 0.89 share price was march 18th... since then the whole sector has gone up 5 fold... just cause the shares were not on the market doesn't mean they dont appreciate
an arrest? man this guy is not only clueless, he cant even read LMAO
ZERO insider selling on day one... Insider BUYING @ minimum $2.50 for 52k ... man some people are clueless
http://www.tmxmoney.com/TMX/HttpController?GetPage=InsiderTradeMarker&Market=V&Language=en
This is the kind of reasoning behind the people who think the price will drop to a dollar LMFAO
"I care less their market cap they have cows moving into the barn for dairy. It was 89 cents for a reason."
based on what? relative to what?
excellent analysis... not a shred of insight as i suspected
0.89 per share would equate to a market cap of 30 million dollars. Less than HALF of what Abattis is worth? 0.89 does not price in FUTURE GROWTH POTENTIAL. The market is doing that hence why it is already trading nearly 3 times that price.
based on what? another donkey here that has no idea how markets work. In fact, NOT ONE person who claims we will see prices of 1.50 has given ANY reason (let alone fundamental or technical analysis) why it will go down, just a bunch of parrots who obviously don't understand economics 101.
you think all MMJ stocks will sink? Im sorry but i see you keep making calls for another huge drop and although i think you have no idea what you are talking about, i will give you the opportunity to explain yourself. Please provide some FUNDAMENTAL analysis on why this company will continue to sink while others will not. (If your answer does not contain the words "market cap" then i will be vindicated in my assumption that you have no knowledge of markets.
while some of these penny startups may have a bigger upside, they also have much more RISK of going to ZERO... TWD has a license is about to start making cash selling weed... no R&D wasted, no more red tape to get through. This is the SAFEST MMJ stock to put a large sum of money into PERIOD.
TWD has 35 million shares outstanding (35,000,000)... FITX has 3.4 BILLION (3,400,000,000) ... People seem to be confused or just aren't very good at math.
If this stock goes to $1.50, like many here are projecting, that would give it a market cap of merely 50 million dollars. 60% of the market cap of Abattis? Does that make sense? or you feel that ATT is grossly overvalued and will plummet as well?
Sorry but I'm just trying to understand where you guys are coming from with these very low price targets. It seems everyone thinks it will go to $10, but not before it goes way down? please explain why this will happen. Provide some kind of fundamentals, not just speculation please.
People keep saying this "Tweed is a one trick pony" "They only grow and sell marijuana" ... well Walmart is only a retailer. Weed sales will make up the bulk of the profits. I am glad they are focusing on the main product. I have spent maybe $500 on vaporizers/bongs/papers in my lifetime, but tens of thousands on weed.
Lets be honest, When you want to invest in gold, you buy gold miners cause they produce the stuff. Tons of mining start-ups popped up in the wake of 2008 financial crisis... this did not hurt Barrick or Goldcorp.
It is legal to brew your own beer... do you see everyone doing that? No Canadians flock to the beer store @ $40 a case. Legalization of pot wont put Tweed out of business. Quite the contrary.
Tweed is focusing on selling weed. That is guaranteed to make money. These other companies touting new technologies and such may or may not be vindicated, but there is a LOT more risk involved. Tweed is relatively safe because they are focusing on the product for which there is ample demand.
To the point about them renting out space. This is a good business decision. The first couple rounds of quarterly earnings statements will be important to investors. They want to make as much as possible. Why leave the space empty if you aren't going to use it right away. This is a good decision by management.
This is my last post cause im limited to 3, but please refute if you are so inclined.
Tweed ?@TweedInc 11 hrs
@PrvtSchoolBlogg someone has posted Tweed shares on the OTC bulletin board in US. That's not Tweed’s doing and is not within Tweed's control
It seems they said it is not Tweeds doing, and not under their control, but they never said it was false. There is a symbol TWJMF and everything. It could be the doing of the underwriters?
Addressing some questions...
1) There seems to be some confusion of how many shares are yet to be unloaded onto the market. All 35 million shares are not being sold to the public, that would leave the insiders with no stake at all.
"The founders and controlling shareholders of Tweed are Bruce Linton and Charles Rifici, each resident in Ottawa, Ontario, who directly and indirectly hold approximately 11.7% and 25.2% of the outstanding shares of Tweed, respectively. After closing of the Transaction Messrs. Linton and Rifici are expected to hold approximately 10.8% and 23.2% of the outstanding shares of Tweed Marijuana Inc., respectively (or 10.32% and 22.21%, respectively, if the Tweed Rights convert)."
http://www.newswire.ca/en/story/1324601/tweed-inc-and-lw-capital-pool-inc-enter-into-definitive-agreement-relating-to-reverse-takeover-transaction
So between Linton and Rifici, they will be holding roughly 35% of shares alone. Do you really think these guys see $2.50 as a price they would like to dump their shares at? They are just getting started! they will hold for years like many of us.
2) Although Tweed has said on their twitter account that they had nothing to do with it being offered OTC, it seems that it will be available OTC on Monday as posted here:
http://www.otcbb.com/asp/dailylist_detail.asp?d=04/04/2014&mkt_ctg=NON-OTCBB
Some of my own perspectives;
Taking a look at technicals, albeit after 1 day of trading, there seems to be solid support @ roughly $2.50 beginning with the initial drop and sustained throughout the day.
It also seems that sentiment has done an about face 180, and everyone is expecting another 30% drop. Please show me an example of an industry leader whose share price dropped over 60% within 2 days of it's IPO. The insider buying to me would indicate that since the close was within 10% of the bottom, the current price is an excellent entry point.
http://www.tmxmoney.com/TMX/HttpController?GetPage=InsiderTradeMarker&Market=V&Language=en
I know lot's of people who have made lots of money selling pot for a long time. Tweed is doing it on a more grandiose scale than has ever been done... LEGALLY! They are up and running and there will be profits. No need to wait for quarterly earnings IMO.
Disclosure: I am long @ 2.67 and will buy more on Monday at 3pm if the price is still below $3.00.
Even better, so we get access to it before the masses. That's what dreams are made of.
so they are giving themselves a good deal... who could imagine that? Besides, they have rights to a tiny fraction of the overall outstanding shares. Explain how you can... or why you would do a 5 to 1 reverse split, and keep the price at 0.89? The answer is they want to stand out among the other penny stocks. They want to be the expensive one. The creme de la creme. People feel less safe investing large sums of money in something that's under a dollar considering how some of the penny MMJs have turned out.