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Holy crap! 81% up the day of my dreams!
Is that how it works because I wonder if I should take some off the table. But who is going to be dumb enough now to sell right before year end. Everyone in this stock now has gains since it’s ar annual highs right?
Year end is 12/31. Audit won’t wrap before that. They said it should be done in mid to late January because the auditor started a lot of pre-work prior to year end.
The 10 cent Wall has fallen. To all those I’ve been on this journey with over the last 3 months, congratulations! We’ve dreamed about this day for some time and kept the faith!
MD I hope to heck you’re right!
No news tomorrow. This is POtN catch up. Look at two week numbers for those stocks va POTN and you’ll see clearly that PoTN has some catching up to do to the sector. This is. It news driven...POTN was “oversold” (for lack of a better term).
Researcher stocks climb a “wall of worry”...your DD was great and appreciated but there comes a point where in spite of any issues it is going to rise...I’ve spent my entire investing life talking myself out of buys because the stocks weren’t perfect. Much weaker companies in MJ are doing far better in the last two months than POTN...this move makes a lot of sense to me in context of industry.
Yeah a bit of a Wall seems to be forming at .09, but we. Yates through the 07 and 08 Wall in like 30 Minutes so we can tear this one down too...
Ha ha you are our MJ Moses...you parted the bong waters so that we could get to the promised land.
Sorry to see this dropping. Placed a buy order at $2.25 just in case. POTN stock is gapping up today big time so weird to see some MJ up and some down
Are you taking any off the table on this or let it ride? I think I am going to let it ride. I feel this breakout move could be just the beginning. If we somehow end the day at .10, it’s on then!
We miss you WIC, you were our voice for so long. Do you own any shares now? Any plans to buy back in?
I hear you. I have 200k shares and understand your timidity. This move is a sector tsunami. Again look at the industry moves in general and it makes this look long overdue in that context.
Looks like an out of nowhere run if looked at in isolation, but in the context of looking at it vs other industry participants this should not be a surprise right? The surprise in that context is why it didn’t pop earlier. Sector move. Go read my posts on here about the GRWC crazy move as an example
Well they just tested it 12 million times in 2 hours so that’s a heck of a test...this is real...POTN catching up to the sector moves...don’t fight it, get on board!
Like 250 mil or so, they just converted over 50% to non-trading preferred.
I say panic buying in the sense that people missed the boat on almost all the other stocks in the sector and this is one of the last boats that hasn’t left port...I don’t think the run up is not real, its just the race into POTN is “catching up” with everyone else.
You’re wrong....very wrong...read the board...its the most legit stock in the CBD sector and for the sector, wildly undervalued...profitable and revenue is up about 14x from 2016.
Momentum/panic buying into the sector...look at GRWC, Namaste, running like crazy for no reason, this is MJ’s mini “bitcoin moment”
IF YOU’RE READING THIS BOARD FOR THE FIRST TIME TODAY...
...POTN IS THE MOST UNDERVALUED STOCK IN THE MJ/CBD SECTOR...BEFORE TODAY’S RUN IT WAS VALUED AT ABOUT $30M MARKET CAP FOR ANNUALIZED REVENUE OF $20M ($1.6M LATEST MONTH X 12).
BUY NOW, ITS STILL CHEAP...TELL A FRIEND...YOU HAVEN’T MISSED THE BOAT, THE STOCK WAS RECENTLY VALUED AT 40 CENTS, THIS IS DIRT CHEAP AND NOW, TODAY, IT HAS WHAT IT HASN’T HAD IN 6 MONTHS...MOMENTUM. ITS GONNA HIT RADARS AND RUN LIKE CRAZY.
Ok thank you, very detailed response!...I figured intuitively that the ETF should stay close to its underlying stocks but now I understand better why.
Moderator can we please get some more “stickys” up on the board...we’ve got guests coming to visit!
The dreaded “this time is different” is my response...this is panic buying...momentum...folks who missed the MJ train hopping on the last train to Florida’s Fiji party.
I predict that this continues until the whole sector crashes back to earth...
Now we have folks who just see this pop up on their radar and realize its one of the few who haven’t run yet and read the $1.6m/month revenues and say “pretty lady where have you been my whole life” and off we go.
Murphy’s...Law...of...Capitulation!
Read my last 2 days posts...the minute everyone gives up, it takes off.
WIC and Bull, I am so darn bummed that you got out before the ride, we went through so much together...you both kept me in the game when I might have given up otherwise...
Well as Researcher said ‘we might be kicking him now’, so get your kickin’ boots on and lets get to work.
B-WARE...I love it! I love that this group can disagree vehemently on facts and interpretations but at the end of the day mutual respect and admiration wins the day....it almost makes up for all the money I lost not investing in the other MJ stocks...almost.
Can I ask a dumb question. The price of this ETF is tied to the value of the underlying stocks so if this ETF got immensely popular the price should still not run up but remain tied to the value of the underlying stocks or you would just go buy those stocks individually for cheaper...right?
Normally I would say no freakin’ way given how this thing has been going but given the strong day today with no news and the absolute frenzy over MJ stocks I don’t see how investors desperate that they missed the run don’t come running to this stock in some degree, regardless of all the previous discussions and issues raised.
Why do you say not hard to predict?
Told you. The day folks give up is the day it goes up...Murphys Law of Capitulation.
I guess I don’t get how you go above your authorized share total of 1B. Phone doesn’t let me see message numbers. When was 11573 written?
I can’t see waiting through all this and selling NOW. Emotion is working the other way. I get being annoyed and I was ticked to see more issuance on the Sign note, but people are selling like something new happened. This is old news about that note. Priced in. It’s just new to our board conversation. So Researcher or someone help me out. Why sell now on the cusp of so many good forces like an audit, CA, uplisting, etc.
I am not saying hold for years but wait two months for those forces to price in?
We are sitting on a stronger floor and it will take years to issue out those additional shares. A reverse split would be a death sentence but short of that what are you seeing as price going to? Don’t we still think floor is .06? And ceiling in 3 months might be 40-50 cents if this runs like the others in MJ?
Name me one MJ still with that kind of room to run.
To those freaking out, go to the GRWC Board. Same story a few months ago about toxic instrument, CFO quit, no fins since 6/30, board trashing stock...I watched it go from .11 to .012 and then with no change in that story it moved from .012 up to .19 before pulling back a bit. It basically did what bitcoin did in this year in like 4 weeks. Unchanged story and no new news on the company. It’s a POS and did that. When the market speaks, it speaks.
Wow the tone on this board really feels like capitulation! Was today the last straw? All the faithful Longs selling? Murphys Law of Capitulation says that right after you sell it takes off. I can’t see selling before the audit in January and an uplisting attempt by Mgmt. It’s not like the audit will tell anything we don’t already know? All that crap is already priced in.
What are you going to do now, sell POTN and chase the MJ sector where the easy money was just made?
Agree and I’ll give you a great example...I was long GRWC at .11 and watched it collapse to .012 (I sold at .04)...then with no news and behind in filings and no progress updates on its business in the past 2-3 weeks its skyrocketed to .19 (before dropping back to .13 range)...that had zero to do with fundamentals, dilution (which was awful) or all the technical stuff we talk about here...what could it be other than (like bitcoin), people panic buying into the sector...
I know! Time for investors to come back to the relative safety of POTN...you won’t lose a penny here! (But you won’t make one either).
Justin...you are awesome! Thank you!
Very happy to have you on the board! Given your comfort with MJ stocks why do you think this one stays flat while lesser companies soar? What compelled you to buy and how did you get comfort with the “Sign” note?
You may have aced cost accounting but it doesn’t mean they did. They haven’t been audited yet so I am just throwing out ideas on why.
Also I imagine the cost of the employees who work on production of the product may be up in the cost of goods sold. The number you talk about for employees is likely just administrative employees.
Garbage trading day. I should have sold half my position at .07....