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Sector sell-off, down over 2x now, we are now likely to close red.
Sector is flat today. This is likely to stay put and close .011-.012 today.
Nobody is forgetting that because it's not true. You may not remember that they raised the AUTHORIZED shares to nearly 2 billion so that they will have more than enough for future acquisitions. They have had continual but very minimal ongoing dilution which raised the outstanding shares to nearly 1 billion. Not nearly enough dilution to justify .01, market cap is under 10 million and should be over 50 million right now. Most don't realize the sector has brought this stock way too low as it has to 90% of other stocks in otcmarkets cbd/mj sector.
Excellent bid support. Maintaining over 1 million at .01, now half a million at .0101. As I mentioned before, it's unlikely this will go sub-penny and stay there, they have no intention of a reverse split and too many interested parties that need this to stay over .01 to keep QB status and overall higher pps.
You should be pointing all your fingers at the right people, not the company for taking over a year to overcome an unforeseen obstacle. All this is now territory for them, remember they were selling restaurant equipment before.
What am I talking about? The real culprit for the consistent loss in share price - the stock market. This is the stock market and the reason I say that is because those 2 words should naturally inspire fear to all who hear them. That is for a reason - it is controlled and manipulated to destroy investors, leaving very few buyers and others with enough money to move stocks up and down as they please. They want you to believe the things you are saying, because that's how they get you.
If you bought into this for a reason, you need to be able to wait for it knowing this type of thing takes time and that they have much more experienced people involved now for acquisitions and accounting. The audit is complete and they are moving along, and they told us about it immediately, so now if you are invested you need yield to the market makers and either buy more or wait for change to happen. Or, you can sell and move along as many others will do.
I think it can go over a dollar after 10k next year, maybe around December/ Christmas rally to push it up there. That is, if the 10k shows 60 million + revenue and profitability and if the sector isn't sh** like it is this year.
Thats what I was thinking, but the language suggests otherwise - "prepared to complete the first closing of the BZRTH Acquisition". If they intended to say first of xx acquisitions, it should say
"prepared to complete its first closing, the BZRTH Acquisition"
I didn't find any typographical or grammatical errors in this 8k, so doubtful this is one.
I wish they would specify what "prepared to close" means. This should imply they have the cash to finalize the transaction, but I'm thinking they didn't say that because they need to do something else first regarding the money. If they need to sell a few million more shares to get the last of the $, I'll be a buyer if it hits .009 or lower.
8k: Just says they are prepared to close the BZRTH acquisition and will be stating a date soon to call shareholders to vote in new directors.
https://www.otcmarkets.com/filing/html?id=13551009&guid=LzOIUKDQe95yEth
To go above .02, yes. But it can go up just from technicals/ MM's without either of those events, IMO most likely it'll go up without any catalyst before a catalyst.
I think there's a ton of loading going on here last few days. I think market makers are dumping, as they are with over 90% of penny stocks, and people are soaking it up. I don't think there's dilution, again, most stocks are way down just like SGMD
Who is blaming who for what?
Looked like it was gonna go above .012 today. Oh well, no worries, not the right time.
The sector had over 2x buying today, have not had such a good up-day for the sector in a long time, don't even feel like consulting my log file to see when the last up day was. APHA was up 41% on good earnings (~+30% pre-market), might be something to do with the entire sector going up. Hope this is a good sign.
I couldn't resist a 10k share paintjob at .0115 to close the week.
SGMD all time low is .0105. Hit .0106 today after going to .0178 a few days ago. If it goes up from here it'll be a double bottom from .0105-.0106. If trend continues it'll go sub penny, but if this is the bottom, the next 20 minutes could be the last of .010 price forever!
Yea I think the same. Hempistry is different because it's an investment, not acquisition.
I've been adding, I'm up to 600,000 shares now on my account and over 500k on other accounts. Hoping if this breaks under .01 it will be very temporary and then break into a really. I know SGMD doesn't want this under a penny, ESPECIALLY not for 30 days. Also I'm assuming whatever is going on with the selling, whether it be Jimmy himself, K&J, or MMs, that those with high interest in this stock with big pockets won't allow the price to stay around a penny.
How is being barely above the 1 year low "up nicely"?
Seems unlikely to hold this low price close to .01 for much longer. Too much potential
Yea, waiting for that breakout to thin the L2 and move quickly. I see it all the time with so many stocks, trading is tricky until we see big gains of over 100% off bottom (.02+ here). I'm not the least bit worried even with my 680k shares. I never had more than 200k of SGMD until last week, I'm excited! I can wait months for .05 if necessary, until then I'm going to mostly just hold and wait until we are at least over .03. Hope you're right about .037 this week, though I'm not expecting it any time soon - IMO it's all unpredictable because it's likely to move up only when it's allowed to move.
I wouldn't worry abuot that or the price in general, Sonny. I'm pretty sure the damage has been done, and MM's will push this up very soon. This is not only based on progress made by the company, but the MJ/Hemp/CBD sector in general. It has been fairing well, and stocks that have been hitting very low lows are starting to hold and pop up. There's a very good chance the sector is bottomed out, and that is great news for investors in the sector, especially for the legit companies like SGMD. Potential here is massive, and when MM's are ready they will bring the massive volume. I think soon enough, .05 will be a steal if it drops down there again after reaching .09-.10. In the near future once acquisitions are complete and 30 million + revenues along with profits are showing on a 10q, we will be over .20 again and people will be talking about NASD uplisting in a short couple years or so.
Why is nobody calling Jummy names or calling scam, etc? Because the share price is up?
Funny how you seem so sure of the reason why the price went up for a couple days
The sector has brought down the pps to oversold level just like 90% of OTC stocks in the sector. This makes decisions so much more difficult for CEO's and investors alike, puts so much stress on the table. The price should not have gone this low to threaten their QB status, but still we have to fall another 35% to reach a penny, and that's unlikely to happen. They will not R/S, they don't need to unless they cannot hold .01.
A year ago when they stated they have started recognizing Bizright revenues, I believe that was what they were actually doing through their accounting department. But then when it came audit time, the auditors said, "no, you cannot do that yet". They have to pay up first, not later, the fact they are working side by side with integrated staff at the new warehouse wasn't enough - that was Jimmy's big mistake in my opinion. I don't believe he lied, he was just wrong and got ahead of himself. So all this time he's been doing what is needed to make it happen, but things take time and money especially something this big. But it seems good progress has been made with having paid over 20% of the deal to Biz and with the dilution that I hope has already happened, they may have made enough to pay the rest or getting close, I don't know but I do know the sector will not stay down for much longer and most of these stocks will see reversals.
This ridiculously low volume makes this stock very volatile. Will be easy for anyone with $10-20k to move this up or down fast.
I have friends holding .19 and .12. Probably not my friends anymore.
Correct me if I'm wrong - I'm very new to growth by acquisitions. Once SGMD acquires a company, they are allowed to recognize all the revenue from that company as their own. The two companies become one. So isn't all the money that SGMD is paying Bizright really just paying themselves? I don't understand where the line is drawn between the two companies once an acquisition is complete.
My guess is that it's all about the share value so in the future at a very high stock price everyone wins. But how is Jimmy Chan and all employees at SGMD going to make their salaries without selling their personal shares? Does all the money the acquired companies make still belong to themselves?
Where's all the sellers today? I want more shares at 0022 and under please
I don't see any news from any of the newswires through Fidelity, Network Newswire isn't on the list though.
It definitely will if a R/S doesn't happen, so many OTC stocks in the cbd/MJ sector are down right now, but most of them will pop back up.
Many good stocks are going to very low prices, all at once. It's not a coincidence, it's the time of year. Nothing wrong with the stock price except a rare buying opportunity.
Sell order over 700k, which means he wants to have at least 1.2 million shares ($15k), and playing with orders he can afford to play around means his account is probably much bigger than that. Still not a very large account I suppose, but anyone that can buy or sell a million shares can push the price significantly with all the low volume.
If you compare owcp to other OTC penny stocks trying to make it with their cbd/thc products, you will see the trend is the same with most of them. The % decline varies, and of course the ones that dilute have more significant % declines over the past year.
OTC Markets:
OWCP
FRLF
POTN
CNBX
RBII
SIPC
HIPH
AXIM
SING
UBQU
PNTV
PURA
AGTK
TLRY
IGC
There are some exceptions especially NQ/NY stocks:
NGTF
APRU
CRON
GWPH
It's not a coincidence that all these charts look similar. The stock market brings down prices of most stocks, and has had a significant effect on OWCP because I watched every day for over 2 years the ups and downs. The most severe case of dilution I have seen to date is UBQU - a company with a great CBD product that has diluted the cr** out of their stock, and owcp's decline is very significant compared to others because of dilution, but my point is that the sector is making things so much worse. A sector correction will help the stock have at least another pop upwards.
I have been following most everything going on. As bad as everything is, it doesn't mean that is the total cause of the price decline, and also doesn't mean the price won't double quickly, also doesn't mean the bottom will be .0001
We need a new low to make this go up. One big dump to reach .0015 or at least .0017, then should be thin to easily go above .0020 and climb
The stock is going down from dilution, right? Well, not just dilution. The sector has been absolutely terrible. There's a few hundred companies out there trying to make it big in the pot/cbd sector. Most of them are doing well and growing, but the stock prices are seeing new low's this summer. Many have to R/S and dilute to continue their operations just like OWCP. But also, many of them see big days just like OWCP saw recently when it went from under .02 to .03, more than 50% gain. So, most investors here think they know exactly why the price is this low, and that it will continue lower well under sub penny, but there is a factor most are not considering - the health of the sector overall. Some of you may remember posts by me in the past, up to 2.5 years ago. I'm a trader and make a living profiting from short term stock moves. I like to accumulate positions on their downward spirals (falling knives), and if they go lower than I think I add more shares and wait. I have been hurt by this but overall most stocks make me money when they eventually return to previous prices 100%+ higher than their lows. I have mostly been out of OWCP the past year or so, because it's such a slow mover with so much uncertainty and lack of excitement behind it.
But back on to my original point regarding the sector - out of my list of over 100 tradable OTC stocks in the MJ/CBD sector, over 90% of their stock prices have not grown the past year/year and a half, but the companies themselves are mostly doing ok and making progress toward their goals. Some have even seen increased revenues and the stock prices still struggling. So with OWCP, by comparison to all the other stocks, it's not that surprising to me the stock price has fallen so much given the lack of news and excitement - a driving factor for big prices moves as most people know. However, in the past 3 years since legalization and such has been increasing, the sector should be growing but it hasn't. So the long term trend has been down, which effects all of these stocks. This is a fact, I see it every day with my own eyes as I watch how companies prices should be going up but they are going down. I believe this to be the result of market makers pushing prices lower when regular people out there are absent and volume is low. But why would market makers drag the prices down? Obviously, so they can make a ton of money later, the only way to make money in any stock for both traders, investors, and market makers, is to buy low and sell high. I believe they have a system in place that is nearly flawless, a system of ups and downs that they control and change at will to profit at the expense of investors and traders. And when companies R/S and dilute it helps them a lot to drive prices lower and keep them low.
What does all this mean for us? Well, what goes up must come down, what goes down must come up. What will turn this stock around as well as 90% of others is a market correction. The long term downtrend should eventually turn around and a long term uptrend should start. One by one, these hundred+ pot stocks will see massive volume, most of the time unexpectedly, and see 100%-300% gains in only days time. People that aren't watching the sector will come up with whatever reasons why their stock is moving up so high. Most of them will be wrong - it will be market makers and their tricks, but the prices will go up. Temporary? Probably, but as long as shares are purchased cheap enough, even the crappiest of the otc stocks will move up minimum 100-150% of their bottom prices.
When will this happen? Well, the past 3 years it usually happens after summer, followed by a downward correction before December, and then a rally again before the year's end. I believe this is mostly market makers driving prices higher because more non-MM volume coming into the stocks. So they get overbought and traders and investors get in at prices much higher than their bottoms, and the cycle repeats so MM's can make their money.
If you are trying to exit your investment, I suggest playing the game, changing your strategy from buy and hold to playing the fluctuations. Don't think you know why ANY stock price is moving, every move is all tricks, with the exception of a big move immediately following news - that is probably regular people buying up the shares that day.
I don't know if OWCP will see a big pop again, but if it does that's where I will sell most of my relatively small position, and if I'm lucky, the price will go low again so I can buy my shares back and lower my risk. It's not smart to sell low, it's smart to sell high relative to low prices, and of course low and high are relative to the time period you are trading. The long term low for this stock can be .0001, or it can be .01, who knows, but the sector health gives the hint when these stocks are ready to pop.
I own 2x more shares than ever before, now with .019 average (250k shares). I can afford to double my position down to .01, but that is very scary and I hope it doesn't hit .01, ready for this to go down a little more (.013?), then back up or stay flat from .015-.02. I will be holding at least 150k shares to .10 or higher, I believe this will really pop up big time once one acquisition is complete.
Somebody with a very large brokerage account is playing around with the bid/ask. This person had 480k bid at .0128, then changed it to 720k ASK, then changed again to 480k bid. So he owns at least 720k shares and can afford to buy 480k more. There's a lot of people out there with large accounts watching LVVV and other stocks, waiting for the right time to buy. All it will take is a catalyst - an exciting update would probably do it and we will get to .019 with only 1 or 2 people buying.
I hope it goes to 015! I started accumulating at .025, I'll buy bigger if it drops below .0172