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516,000 shares before lunch. Not too shabby at all.
Other parts of the overall mj market are having similar days as well. Increased volume, slightly increased price
No, just pointing out they're doing fine
Volume and price are doin just fine today
Honestly, I have no idea. I don't know what to expect of the price right now.
The dilution was approved by the shareholders, and while I hoped it wouldn't be, I don't think it's going to deal a death blow to CANN or anything. We can see that share prices have increased even though the dilution is headed our way. This will solve some of the lingering financial problems CANN has, so from a longevity perspective, it kinda needed to happen.
Assuming it passes the house, it needs to pass the senate. Mitch McConnell, the senate majority leader, has so far blocked any and all MJ specific bills from coming up for a vote.
Id love to be wrong about this, but I don't see this coming up in, nor passing the Senate
This is true. Congress will be needed for any sweeping legislation, which seems unlikely under McConnell. But I expect we'll see Biden use what powers the office has in those capacities. Until we see McConnell allow a MJ bill come to the floor for a vote, I think the best we can hope for are Cole memo and executive order items
Give it time. We need something to happen like the Cole memo or similar
For NASDAQ listing, yes. I can't find a firm, complete list of what else is required, but I've seen different lists of volume requirements and things like that. Altogether, no longer being on the pink sheets will only be a good thing for us. Increasing volume and the spread being narrowed is what I've wanted to see since the name change.
Uplisted to the OTCQB is certainly better than being a pink sheet. Now they stand a much better chance of getting to and maintaining the minimum bid price for NASDAQ uplisting.
No, your post didn't fly over anything. Like I said, I understand how government works. ;)
I'm not kidding anything. I just understand how government works, and there's more than one way to reschedule a drug. It can come from the executive in addition to the legislature. Thats why there have been petitions to get it rescheduled, and there was speculation that the DEA would actually do it a few years ago. You remember that don't you? There were articles about how it would finally be rescheduled and then it wasn't? It wasn't congress mulling over the idea, it was government agencies. The heads of which are appointed by the executive.
Biden can reschedule MJ from schedule 1 to schedule 4 via executive order (Nixon made it schedule 1 that way because he hated hippies and thought MJ contributed to anti-Vietnam sentiment). He can also direct the DOJ to reinstate the Cole memo or other similar guidance. The removal of the cole memo via Jeff Sessions is what killed the CA legalization rush dead in its tracks. He can also direct the FDA to reschedule. While the Cabinet will be more centrist since nominees will have to be confirmed by a Republican senate, it likely won't involve historically anti-MJ and overtly pro DARE and war on drugs doofuses like Sessions.
Anything beyond that, congress will be needed, and with Mitch McConnell in charge of the Senate a sweeping legalization or federal decriminalizing probably won't happen in a single piece of legislation. McConnell is a stuck in his ways and doesn't understand the political and economic advantages involved, even though the party itself is really starting to come around and traditionally red states have been legalizing.
However, the good news is, Biden and McConnel are friends. Mitch was the ONLY Republican to attend Beau Biden's funeral in 2015, and Biden actually frustrated other Democrats during the Obama years with his willingness to make deals with McConnell. This doesn't necessarily translate to all things going great in the MJ legislation world, but it does imply that there'll be an actual working relationship between the executive and legislature, which will also involve MJ related stuff.
Short term. I've never held MJ shares for very long, just during the rushes then I sell and enjoy the profits
Well you recall my position on CANN is that it's fun to play during rushes. With the last round of legalization and now an administration that won't appoint a completely Anti-MJ attorney General, its only a matter of time before we have more fun again. So from my angle, cann only need survive for a bit.
However, with the dilution looming, CANN will still be a good play, IMO.
They've increased assets and cash flow which is good. The liabilities have remained largely the same because they have debts coming due which is why shareholders voted on dilution recently. Overall CANN is moving in the right direction.
While the price has been low, the volume gas been consistently up. For a while there we'd struggle to get a few shares traded, now we have fairly regular volume every day.
One step at a time. Can't get a lot of new people excited about a stock that no one trades.
Give it time.
You have to account for flipping, trading, and consolidating. If the build up is anything like it was in 2016, we'll have 2 big days a week roughly, with red or boring days in-between
1.4 million shares, some decent price action. I expect we'll have a lot of sub 1$ flipping to make up for that extended period in the doldrums
Edit: Double post
Early signs are that there's money flowing back into the sector. CANN and another of my holdings are trading on extra volume and prices are creeping up. If this continues for the rest of the week, I see very little reason why the trend wouldn't continue
Awesome. My wife has been to austria a few times and loves it there
I'm American. If you have $4000 worth, the value might decrease, depending on how the buyers respond to the increase in total shares. It's not a set amount, and the dilution might not happen at all.
No, the shareholders are voting on doubling the amount of shares, which would double the amount of outstanding for-sale shares. So you'd still have your same amount, but their potential value would decrease. Part of what makes CANN run so well is its share structure. But, if a rush happens in the MJ market, it's not going to matter too much, IMO.
Yup. The indications should be right away. But if we went from high volume all week to 1.2 million shares on friday, I just don't see the market dying on Monday.
It was so much fun. I paid off all my start-up debts, expanded my business, and went to Britain for a 2 week vacation with a nice cushion of cash sitting in the bank afterward. I made a little money in 2018, but that rush was so short lived it was just a nice bonus that wasn't exactly world changing. I'm similarly set up this time, so if we even see 25-50% of the exictement we saw in 2016, it's gonna be a good time for me and my wife.
In 2016, MCOA spiked at 19 cents and it didn't even have a product to sell at the time. If another rush takes the MJ market, it'll have nothing to do with company fundamentals, it'll be a massive bubble based on excitement and bullish trading, and we'll all have the opportunity to make some money before it pops.
If the market does indeed wake up, and the next week will be the first indication of that, $2 is chump change for CANN. We should have very little issue sitting comfortably between $1-$2 regardless of what happens with CANN's share structure and dilution this month.
But, I feel, even if the dilution is approved, doubling the amount of available shares won't kill CANN as a good play during a rush. It'll still have a decent share structure, certainly far better than some of the other penny stocks out there with billions of shares.
Next is for everyone to realize what's going on. Hard to say what specifically will happen next week, but I expect we'll be seeing increased volume and the price creeping up.
Heck yes. I'm super excited to see what next week brings us
ALMOST ONE MILLION SHARES AND THERE'S TWO HOURS LEFT IN THE DAY
They need to be at the minimum share price of $3 to $4 for 2 months first is my understanding. But, if they've worked out a deal with a couple investment banks and maybe have a Copa update, we shouldn't have any problems
It was good to see some deeply red states legalize it. For quite a long time, MJ was almost exclusively a Democrat thing. If it's embraced by both parties, it's only going to be good for all of us.
I picked up a few today. Sittin tight on my holding. I feel like we'll start getting some action soon. There's enough stuff coming down the tubes for us, one of them may be the thing that gets the whole thing in motion.
We have Copa, quarterly reports, and hopefully they've been working on getting NASDAQ listed.
The plus side of getting uplisted is, the price needs to be a minimum of $3-$4 for two months. So the market makers (two are required) they get signed on with will need to guarantee the price never drops below that.
That the volume is continuing as it has in the last couple days
200,000 shares already
460,000 shares. Good gracious
Polls are looking like a government change that will favor the MJ market. What we're seeing is tentative expectations of another rush. Really nothing to do with CANN as a company, but when we do see MJ rushes, CANN is one of the first to run
Look at that volume