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The "news" (again if it is true or not is yet to be determined. I will never believe a word out of that worms mouth) was said after market Friday.
What I'm saying is it had people making decisions to buy this morning. That is what I am saying. The chart was showing continued selling so he most likely said that to sell shares at a higher price.
I never said it wasn't...I was the first person here and on yahoo to point that out. What I am saying is everyone that bought more this am got played by C.V. why else would he release insider info (if it's true at all, bc again who can trust the guy that has dumped on the shareholders this whole time?) other than to make some money...the guy is extra slimy
of course he can...this is a penny stock did about a million dollars in volume on the highest day last week....it doesn't take much money to move these kind of stocks. We aren't talking about Canopy Growth here
It doesn't take a rocket scientist to see what he did.
I tried warning people not to trust C.V....he is a note holder and will say anything to make a buck. He gave everyone "news" only to dump on them this morning. That guy is as slimy as they come...
This does not pertain to the company itself. I wait for the actual company to release any sort of news. That way we know it is legitimate. Other sources have their own agenda and C.V. is in the business of selling shares
Buying on hopes is not a good strategy imo. There is no substantial evidence that implies a buyout. Just a website that some long here threw together in 5 minutes. Not fooling me to buy bc of that. I've made 30% while this baby went down this am. Not worried about entry. The whole point of investing/trading is to grow and preserve capital.
He could be trading it, which is what I do. I currently do not have a position here. I'm waiting for something substantial to be released (mainly the verified numbers). The court case could also have negative affects on the PPS so I'm cautious leading into that.
No news again on the rev numbers today. I definitely think they are waiting to release the numbers or anything until after that court date bc the outcome of the judges ruling will have an impact on the company whether that be negatively or positive. So right now they are probably waiting bc they could release them and have the stock rise only to fall if the judge doesn't rule in their favor
It's on my TD Ameritrade news feed as well. We had a massive volume Friday (the highest it has been in almost a month). A solid green marubozu candle. Stochastics Slow, Fast, and Full all showing a buy and continuation. This was Friday were all signs were pointing a continued upward move and now we have news too?!
I disagree here. This is progress made by the company and now they will receive more exposure.
And discounts on the products too!
Last year (2016) they mentioned that they were going to retire shares and everyone did the market cap based off the fact that they would follow through with it. The bought the rumor, which was a PR at the time and the official news never came. This is why I still don't trust them fully bc they have let shareholders down time and time again. Honestly while I'm thinking about it, that is probably why it tanked back down. That and the audit that they said that they were going to complete by a specified date and they kept pushing it back. So stockholders lost faith. What they need to do now is come out with the numbers and do what they say bc on top of the things I stated, they withdrew the uplisting twice now. So no more slip ups from the company can be afforded. No more rumors or we hopes, we need "we have DONE". That's what I want to see personally.
That's bc it's a lagging indicator and unreliable. I got still have it on my charts, but I can't tell you the last time it has impacted a buy or sell decision for me
I agree on that statement. The first one took an extra couple of months to finish it
TLRY also had the USDA sign off on them importing marijuana from Canada for medical marijuana research. That is one reason why they have a high valuation as well. No other company is able to import from Canada to my knowledge still. I'm not saying that their valuation is justified, but that adds significant value to them.
I checked back on last years rev numbers release and they were released on the 2nd trading day of the new year, which was Wednesday the 3rd. So they released them on the short week of trading. We are currently heading into the 4th trading day of the new year (Monday) so I'm not sure if they are planning on releasing them before or after their court date that is on the following Monday. I honestly think that they might wait since they didn't release them last week, but we will see
we need to see the numbers before any other news is released imo. That is what is important and paints the picture for where they are headed.
I'm bullish on the numbers they release, but I want them confirmed to be certain.
I know of a gun store roughly 30 minutes from where I live now that was shut down because he wasn't checking for customers licenses for handguns sold. I doubt that people would really go through the hassle to get a fake license for CBD though, but you never know I suppose. It isn't really a call for concern in my humble opinion. You are right on the redbox thing. I was thinking more traditional vending machines. I'm still curious how well they would perform and if that is the right avenue to go. Everyone knew what a movies and DVDs are so redbox had no problem with customer acquisition and education. We will know when the first sales results on them are released if the move is a wise investment of capital.
As for CA, I am honestly not sure. I live on the east coast and have never been out west. So my knowledge on what's going on over there is limited
If this is true (bc I don't trust C.V. as far as I can throw him) there pros and cons to this. It is more cost effective long term to manage one, but there is also the fact that the machine does not inform the general public what it is. There are still plenty of people that don't know what CBD is and the ones that do know still could have plenty of questions and a machine does not help with that. Pro's and con's to it imo. Could help their bottom line perhaps, but we would need to see sales from them confirming their effectiveness.
It ran bc of extremely low valuations, up almost 100% in 3 days on INCREASING bull volume. Pulled back day 4 on low bear volume. About half the volume of the day prior. Only going down 2% for the day. Healthy chart action.
Just normal healthy chart action. Not in a position here at the moment, but no signs of concern for the bulls. A pullback is/was expected to digest the move.
I have a limited amount of posts on here, but thank you for pointing that out. I looked at their news and they did their two share offerings in September so it could include it, but I am not certain since I didn't do extra digging on it yesterday. I did check on my TD Ameritrade account this morning and noticed that they have the share count at 15.2million, which I attached below. All 3 sources are showing different outstanding share counts, but I believe the more accurate number is somewhere close to TD's and OTCmarkets number since they are relatively close to one another. They are trading at roughly 4x annual revs if one were to average out their quarterly sales, but given that they have only released one quarter of revenues that is probably why they are only trading at that multiple since their isn't enough data to go off of. The share price most likely reflects the risk involved since investors there are unsure of the growth or decline on the following quarters revs. I will be watching this one more closely now. Thank you guys for the discussion on it
I'm honestly not sure either. I never use yahoo finance except for the conversation section. I noticed that on yahoo finance they have the outstanding share count at 93million shares while otcmarkets has it at 17million shares outstanding. I'm not sure which is correct, but I would think it would be otcmarkets bc they would have had to issue a significant amount of more shares to be at the count yahoo finance has if the otcmarkets is an outdated number. That's just my guess though
https://www.otcmarkets.com/stock/CWBHF/security shows a market cap of $200k, which is below CVSI and their last quarterly revs they did $17.7million. Their chart also looks ugly to me in a downtrend so the valuation will continue to slope. I'm not sure why honestly. I would have to do some more digging on them since those are some pretty impressive quarterly revs.
That puts them at under 4x revs if they were to avg out the 17million per quarter for a year
thats not how it works....its shares outstanding multiplied by the share price. Thats why for them to be worth the same forward looking valuation as CVSI they would be trading ~10x multiple, which puts POTN at $0.50
If anything I could see OTC companies get bought out however and join under some companies, but that still would not command them to be worth billions...not yet anyways. If you look at those big growers in Canada they have licenses, operations, and purchase order agreements in many other countries already. This is a global market and sadly Canada was way ahead in terms of first to market. With the amount of capital they have, they can expand rapidly and outdo the competition. I do think there will be another big run when the US opens up for full out legalization and we should run up until that point since the US has the biggest market potential. I'm just saying that the standards have changed on valuations and where the company should be to receive a high valuation like a billion dollars.
Past gains do not dictate future potential though. Back then the market was entirely different. Like you said no company was really producing and had sales at the time so everyone was betting on who it would be. Now today we have huge companies like Canopy, Aurora, Tilray with massive facilities, plenty of cash (Canopy still does at least), already producing a lot of inventory, and plenty of brand exposure. Betting on OTC companies to take their market share away replacing them and being number one is not feasible at this point. That does not mean they will not be successful. It just means the playing field has changed. Now that we have companies achieving much more there is a bar to be met to receive those valuations and investors will look at that. All imo, but an OTC company should never be worth more than those big guys far ahead in many aspects
There are only a handful of companies in the sector that command market caps in the billions. The only one in there not producing revs to justify it is TLRY. I have over 50 tickers on my watchlists in the MJ and Hemp sector and I am unaware of one that is valued in the billions market cap especially on the OTC. The billion dollar valued companies are all on large exchanges. If you know of any, please let me know. I would like to take a look at them bc I am curious what these entities are doing presently
If POTN grows their revs to that number & gets rid of the debt like CVSI then I can see them sustaining above a dollar for a reasonable valuation. CVSI isnt even trading above $5.00 and like I said in the last message they have almost twice the revs, no debt on their books anymore, and maintain a much higher profit margin. I'm not here to steer anyone wrong. People got burned last run on unrealistic forecasts
TLRY ran that high bc of its locked up shares and the extremely low float. Traders ran that thing up to insane levels bc of it. I wanted to buy puts soo bad at its top, but I wasn't verified to do so at the time. I'm going through the hoops now with my broker to allow me to. No joke, I called that top that day almost to the minute. I would have made a killing on those puts
CVSI is doing almost twice as much per quarter and just under 10x what they will do in revs this year. That is the sector average. CVSI is also farther along without debt on their company so progress needs to be made here for them to be worth that multiple. I'm not bearish here, I'm just stated things with a level head not euphoria.
but 118x these revs? Thats a bit of a stretch imo
LOL! That is gold!
Could it be from when I was brand new here and didn't have the fundamental or trading knowledge I do now? Bc if you are quoting myself from last year (2017 actually) then that is the case. I'm being real here with my replies. If I knew back then what I know now I would have hit that run out of the park. That's why I invested heavily both time and money into learning all I could this year.
You need to realize that people progress, learn, and become better. I laugh at myself for thinking that was a possibility back then. Now I know better
Looks like a higher open on level two. I'm going analyze other setups for the day. Good luck to you and other longs here
Thanks! I made 67% on that swing trade. I'm eyeing up other trades already if I don't like the set up here. I exited off of technicals yesterday and I'm eyeing up other MJ stocks that are in tight equilibriums. A lot of good tight set ups in the big players now that would end up in shorts having to cover so regardless I will have something to trade. Thats the beauty of trading. There's almost always money to be made. I will end up trading one of them if the set up here does not look good. Risk reward for entry here is not favorable from my point of view at least. I understand other people buy and hold for longer periods. I dont like to hold a stock for longer than a week without realizing gains bc anything can happen. During the farm bill I lost 50% of my trade profits here bc of that uplist withdrawal :/ so its always good to lock in profits when you have them even partially when the charts are showing not to be too greedy.
everyone needs to calm down here on these astronomical price outlooks lol $10 would put them trading at 236x their 2018 revs and $5 would put them trading at 118x their 2018 revs. No way either is happening this year even on hype. Reasonably this can hit $1-$2 on hype and a fair forward looking price would be $0.50 giving them 10x this year revs. Before any of this is to happen we need to establish some support, form that higher low on a longer term time frame (1hr, 4hr, daily) cool off RSI levels, then break to form a higher high on the daily for the trend change to be completely confirmed. With those things done it confirms a longer term trend change and removes any doubt from here on out. We just need healthy chart action essentially. I personally would love to see a daily bull flag form until any news is released.
This is my opinion and outlook. Good luck to all longs here.
I agree completely with the valuation still being too low and that this still has plenty of room to run on an uptrend. I'm just looking for some healthy chart action before our next leg up. I just took a look at other days past volume and this was the 3rd highest volume day we have had in about the last 7 months on the daily chart. That's significant imo and gives even more credit to the bulls here. Thanks and good luck to you on your position!
I just exited my long position looking for healthy consolidation. Overall extremely bullish chart, but on some time frames (the hourly and 4hr) we are in need of some consolidation to digest the move. Shorter term time frames need to cool off RSI. I am still bullish, but nothing ever is a straight shot up. We need healthy progression forward. Good luck to all longs here
I just took a look at his twitter and he is talking about CBD. I'm wondering myself, but apparently his eyes are now on the sector so I wouldn't doubt it
Now beat yesterdays volume by an extra 400k shares and still 3 hours to trade yet! HUGEEE bull volume