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LOL got taken out before I finished typing that sentence.... thought it would take a day or 2 but only took minutes.
Share structure means nothing right now, company has failed - all their work the last 2 years completely gone - wonder how much loss in dollars... I'm guessing over a couple million. They will need to continue toxic financing to continue, so the share price will continue to fall.
Watch this "excellent" support at .01 fall soon. Only 1 million shares there on the bid, that will be taken out and become a 1 million + ask nobody will want to buy.
LOL who would buy this company? As of right now they are a huge failure. Doesn't matter that they are returning a lot of shares and putting the r/s on hold, this company is now in the pool of literally hundreds of other OTC companies who are "entering" the sector and trying to make a buck on selling cannabis consumables.
This is going under a penny and gonna stay there for a while.
Sugarmade abandoned entire hydroponics plans, and is going a different direction. Im not buying
Power hour or poorer hour?
I look forward to buying back here below . 007
correction:
one world cannabis pharma
We don't know the reason for the rescission, but the company seems to think it's much better for them and for shareholders, at least that's what they're saying. For all we know BZRTH saw or experienced something they didn't like and suggested cancelling, not in favor for SGMD, who knows. But the share reduction is actually good at least in trader's eyes but now it could be another year or more before we see revenues over 10 million.
Here's my guess as to what will happen... the share price will slow drop to .01, followed by large dump of shares after it breaks under, followed by lots of buying back up to .013 or higher. If "big" news comes when price is under or around .01 we might skyrocket to .015 or .02. I don't think we will hold gains passed .02 until the company proves something.
Sonny if I were you I'd sell 1/2 or 3/4 of your shares and invest in another company. There's over 100 good OTC stocks to invest in that have come down in share price as much or more than sugarmade. My money is in one world pharma
Patent worth that much, company will be worth more.
Sonny just sell your shares already. The guy with 31 years experience says it's a crap company and you seem to know that too. Why hold?
I didn't say Feb 21 will be a big day... it's the day they filed their 2018 Q4 and will likely be the same this year. You perceive what happened differently... as U recently stated, they have been recording bizright revs almost the entire 2019... but the auditor would not allow them to report it as their own because the acquisition was not completely finalized.
I'm confident the next Q will show the $ and everything will suddenly seem real. Before then I'm expecting more news about their progress of the sky unlimited acquisition which could boost the price back toward .02. But still we don't know how long dilution will last and how the rs will go.
Sonny and other investors... we are still above the stock's low after announcement about reverse split for nasd uplist retirement, so it can be much much worse. There's nothing wrong with the company or ceo, there just isn't enough interest yet.
Look at this for an example. One world cannabis dropped down over 99.5% in the past couple years just like sgmd, except much worse. The reason for going up 3000% in 1 week is because something actually became real. Sgmd has something real and once it's on paper the real investors will come and more and more buyers will come into the stock.
Just wait until feb 21 and accumulate at this price or lower.
Actually this company is legit, been following them for almost 3 years. The market cap will prove to be too low after the next Q - company has over 30 million revenues and profitable, just has to be shown on paper now the acquisition was finalized.
Expect the 10q on 2/21
How can we get an O/S update. A request to OTC markets?
Thank you... turns out I'm a terrible investor but my trading has reduced much loss for me, it was a brutal year for my watch list.
Don't worry about the traders here, most will get burned out on the big moves up when big money comes in, I think after this high volume week and end of year people will become bearish, and the price could very well take a big dip, but I don't think it'll stay down. I can hardly imagine how watching this day to day for so long has been for investors here, everyone is thinking different things about the future and reasoning behind recent price action. But I do understand everyone's goals are very different and have different types of accounts and portfolios, long term and short term, retirement and brokerage, etc. I'm able to look at a static screen 35 hours a week so I choose to trade instead of invest. On the downside I cannot make as much money potentially as an investor because my rules require me to sell and eventually a stock's price goes too high to risk buying vs other stocks. On the plus side I don't have to gamble or stress much and can day trade for a regular income and retirement savings while "slowly" growing my account.
I just try to give information from a different point of view for the investors here, not all price moves have to do with the details of a filing.. and when the price does move seemingly from one thing it may very well be for a different reason. What I see day to day I feel can shed light on some of this huge upswing... because it can't happen with all stocks worth a penny due to share structures. Even with 150 million shares coming in to the O/S, it's not gonna make a huge difference in the price action over the course of a month, maybe just the days they are converted - more of a daytrader's concern rather than the true longs. The action of the sector is much more of a concern than those shares... when there's money coming in, much will come to OWCP as well.
Best of luck to us all... I hope I'm right about this stock continuing upward next week. I think it will likely reach at least .08 next week, no guess what might happen after that if it does.
x100xPercent
Lol I want cheaper shares too
Just a point of view, fact is it bottomed out 48.5% from the most recent move up followed by a 42% move up from the day's low, then it closed 33% up from the day's low. This is how a day trader views price moves.
I think most people here that are bearish at .04 don't realize the uniqueness of this stock, the company and situation. But there's nothing wrong with that, most people don't compare many stocks to one another. I do, and believe me this company is very unique. Some of you will recognize my username from way back, but I'm not a biased investor - I'm a trader of the marijuana sector and haven't taken my eyes off OW very much the last couple years.
Not only does the company itself have potential to be worth a billion dollars some day, but the share structure is excellent - the pps can be allowed to move very high unlike many OTC stocks that dilute all the time causing lower highs and lower lows for long periods of time. And since a real patent was approved in the best possible country (they also applied for a European patent at the same time as the US patent...hmmmmmm), they will have big eyes on them. There are so many possibilities of who can come into this stock to buy, but often smart money is big money. Or even the company itself - for all we know they are busy answering calls and setting up meetings with big pharma companies right now. What will the price do when they announce something even bigger than the patent grant? How soon could they receive their patent approval in Europe? Will the US patent grant help the approval decision in Europe, if not what are their chances of being denied the patent in Europe? (IMO very small). The price came down way too low, over an extended period of time, the market will correct soon and money will flood into this stock if there is no bad news, just don't know how long the wait will be.
On another note, the marijuana sector has been down for over a year, over 90% of stocks in the sector on the OTC have been going down and down just like OW, but OW trades differently because of the share structure, it will not be dumped and held down all the time from dilution and pessimism. In fact I'm pretty sure OW is the most traded stock in the entire sector the last 3 days, and I think it's more likely to draw even more attention rather than see it vanish.
The big boom can happen at any time, nobody here knows what the price will do or when some big buyers will hit, but the upside potential is huge in the short term and massive in the long term.
x100xPercent
It was down 48.5% from it's peak, the way I see it, that's a 50% haircut if you watched the stock reach .054 and did not sell any shares. Who cares about close and open prices
History is in the past, which is all charts show
I don't think a lot of whales are here yet.
Gap filling is for chart - technical plays. This is something different entirely
Market cap still too low at 10 million. With their first real patent, and being a US patent, market cap should be 50-100 million. The price came down way too low, I believe the sector brought it down just like 99% of other cannabis stocks on the OTC, but went much lower due to the Jeff Freidland events and lack of positive news.
I think even if the company does nothing new, simply just continues their long process of clinical trials, they will be worth so much more just because they probably now have big pharma's attention. What other company has a patent on any drug or potential drug with real THC? I don't think any other companies on the OTC, only NASD, correct me if I'm wrong.
Except for the 3 times in the past couple months that the price has doubled.
Considering the price is so low, the company obviously did, but I don't believe it was their intention to make a statement just to benefit from share price. No matter what the price was, they were still going to need to dilute while they consulted professionals and made decisions regarding financing and their move forward. In fact the price might have actually gone lower and be lower than it is now if they hadn't kept us updated along the way. As I said before, I believe the worst is behind the company and shareholders, it's only a matter of time before a big move up when big money enters (IMO after said revenues are officially on paper in a 10q). It's all games until then, IMO, and everyone who invested at .10 will get their investment back and then some by holding on another 6 months to 1 year. Keep in mind many sgmd employees are down just the same.
Will probably go down monday/tuesday... last year entire sector went down big time on the trading days before Christmas.
I've been following SGMD just as long as you. You probably know this and saying these statements out of spite, but the fact is that they did start recognizing revenues earlier this year as they stated. The problem was that they could not actually report it legally until the $ and shares were paid to Bizrite. In other words, Jimmy got ahead of himself because nobody told him this until the auditors stepped in. Human error from a CEO's "first time" going through a major acquisition of a much larger company than his own, big deal I instantly gave him a break once we learned of this. But in the end he still got it done, that's what matters - he's breaking down barriers and apparently won't stop. Now he and his company have experience and their valuation will skyrocket once money comes in. Should happen this month, as it did the past 3 years in December.
So have most of other OTC stocks, especially ones in the cbd/hemp/mj sector. It's flooded and most investors and traders have been wiped out the past 12-15 months. And when I say most, I mean over 95% have lost 80-99% of their values. Many of these companies are not scams and have been making progress the entire time. Some even don't dilute but still lose value. It's the market, nothing wrong with the company, the stock or what they are doing. When market conditions improve, the money will come and prices will go up. Catalysts are only good for short-lived runs because of the weakness of buying in general.
Doesn't matter much if the price goes down for a while... when money comes in it's gonna pop huge. It's like fishing out in the ocean... some days you catch nothing, maybe one or two, but then sometimes a big school of fish come through and $h!* gets crazy. That's the kind of attention a company likes this eventually gets when they follow through on their big plans. They have already proven their ability to acquire a large company with positive cash flow, it's obvious the worst is behind them and us as well. But right now, and as it has been the past year, there just isn't much money out there going into OTC stocks, especially companies in the MJ sector, so any upward moves are brief and selling eventually takes over... I've been seeing this all year from many companies, so to many people out there, $GMD is just more of the same. Why? - 1) Revenue and profits isn't on paper yet, 2) r/s is coming, just the same as most OTC companies. 3) How much revenue they report in the next Q's is still speculative. 4) When dilution stops is still uncertain.
The last 3 years I've been trading and watching over 100 stocks in the MJ/Hemp/CBD sector, mostly OTC, there has been a rally in December. Higher volume and buying across the board. Most of the best and worst companies gain 30-50% or even 100s of percents during those rallies. Will it happen again this year? If not, still no big deal, it's only a matter of time for $GMD to get massive attention, so I don't expect to see a market cap much lower than this much longer.
Nomatter what you think or believe, you don't know for sure whether the price will go up or down, so it's not smart to be all in or all out with your money on a stock with such huge potential to grow over 200m+ market cap in a year.
If you plan to sell, only sell some, up to 1/2 of your shares only with the intention to buy at a lower price.
If you plan to buy, put multiple orders in so you get more shares at cheaper and cheaper prices. Accumulation 101
Good luck with whatever you guys do. Personally, I have my accumulations strategy in and whatever more shares I get is icing on the cake, and I'm just simply going to enjoy the holidays and wait it out.
Have a great holiday season.
x100xPercent
I don't think there will be a huge dip, but it should definitely go lower because there doesn't seem to be any interest pre-RS.
Sonny are you looking at L2? Just FYI incase you don't know, the L2 will not show all orders, bids/asks because it only shows one of each market maker for the bid and ask. For example I have a large bid below .0125 but my order is going through GTSM which is already shown at .0125.
Are we expecting the R/S to happen on a particular day or week? Someone said something about 20 days last week?
I think it's gonna dip again before it goes up.
"Our goal is not to deliver you an overnight $4 stock. It’s to deliver you a long-term trend of continuous growth in returns on your investment. This market is headed for enormous upside. And we have an opportunity right now to grab that bull by the horns. This is simply one step along that path.
And I can’t wait to update you every step of the way.
Best Regards,
Jimmy Chan, CEO"
You have to take into consideration the market, especially this sector, brings down 90% of these stocks for no apparent reason over the course of days/weeks. Only catalysts cause price rises, and what catalyst do we have coming in the next few days and weeks? Probably nothing until we get news about the next acquisition and a time frame for it. This will run and I'm bullish on this stock, been trading this and investing almost 3 years. But reality always sets in - 90% of stocks go down and down, and we are pending a R/S and 10q shows no additional revenues. I don't think we will go higher than .012 unless the sector sees a big rally which is not likely to happen until mid-late December.
They won't be uplisting anytime soon, will take over a year.
There's not enough interest in the short term here now that 10q is out without showing any new revenues. Sector is up today but not helping. Pending R/S and continued notes converting = dip, IMO. I think our trading range will be .008 - .0115 for a bit.
Hi Sonny, I've been following all your posts and have been feeling for you as well as Baillosellhi, suissac and many others including myself. I'm glad you are holdling on and didn't sell down there under .01. Even though it may go down again, I don't think it will make a new low and will come right back up over .01 if it does. Reverse splits are OTC markets traders and investors worst fear, and that is now behind us (not the actual R/S of course). But this is the bottom, and the market cap will be much higher as the company makes their moves. The sector is at a low as it has been coming down the past year - year and a half. Many stocks that are good companies have very low prices and very low volume. The combination of SGMD advancing toward acquisitions and uplisting as well as a sector correction will bring SGMD and many other stocks up much higher than these prices. There's no way it's going to stay down here, which means we will see 300-500% gains from here when the sector corrects. Best of luck, hang in there and we shall be rewarded.
It was obvious they would R/S the stock because it has to be part of a plan for such a company to uplist, but I thought it would be a year or 2 down the road after they meet all other NASD uplist requirements such as revenues. But maybe they plan to uplist much sooner, so I guess doing the R/S now is probably best because the price and market cap are so low anyway. If this goes down under .01 I think it'll see a big pop right back up over .01. This will be the 3rd R/S I'm invested in and they always come right back up. But now we have news this morning assuring us of their plan, we may not tank too low this morning, .01 might hold and surprise everyone. Whether or not this happens, gonna be interesting and volume will be high and gain attention to the stock! I'm pretty excited for the coming months, those who hold will be rewarded, as soon as NASD looks like a reality, the market cap isn't gonna be 5 or 10 million, more like 50-100+ depending on the market and sector.