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I predict this is where promises start getting broken by the company.
I think that THCZ better keep good on their word of releasing those alcohol infused drinks, because I think that the hemp drinks have run their course, at least until they show they are selling really well and producing high revs. It's the next logical step.
In the meantime I see this dipping for a while, todays PR had an adverse affect on PPS,and I think the hype in general has slowed a bit and investors as well as potential investors are turning their eyes elsewhere.
Taking the rest of the day off, let it churn through 6-8's today, after all it is Friday, be back up Monday.
Looks like it's gonna be a dump or sitting for the rest of the day, no one seems to wanna bust those 9's right now, that may be best.
9's thinning....adjusting nicely
Cool off?? The RSI is in the 30's, how much cooler do you want it
Shouldn't post news so old, homes...it's irrelevant..
Ameritrade and BMAK on the ask back to back, changed my mind, I don't think this is goinng anywhere soon.
PPCH is trading how it always does, rise in the AM, drop through lunch, picks back up and runs EOD.
R/S is already showing in my etrade, now listed next to MGCN is 0 shares.
And as far as shorts go
"A secondary benefit of a reverse split is that by reducing the shares outstanding and share float, the stock becomes harder to borrow, making it difficult for short sellers to short the stock. The limited liquidity may also widen the bid-ask spread, which in turn deters trading and short selling."
Well, I chose to hold. As has been stated many times already on this board it's a 1:10 R/S...think about that.
Now I'm done talking, the only splits I'll be thinking about is on the lane as I'm now going bowling.
GLTA
The stock could open at .01 depending on the par value of the shares. They don't have to give you ten times the price of the shares you had at market close Friday as far as I know- but this will not drop IMO after the split if enacted upon...
It's not going anywhere Monday. If they do follow through with the reverse split it will not be trade-able till end of the week earliest. Period. Well, this can depend on how quick the company is on their end, but I've yet to see an R/S go through on a penny that was trading again the next business day.
And it sure as hell isn't going to .01. People who got scared and/or sold to avoid the whole issue most likely already sold. Also the fact that the R/S might be active effective on 4/20 is a catalyst for the price to rise when the shares become trade-able again, not fall. Especially if the company announces the closing of one or both of these properties. Ever think that's why the R/S was filed right after the news of the delay.
Anything could happen here...if you held all you can do is wait and see and then trade accordingly.
Oh no? this is an excerpt from an article last year involving a well known ticker that I won't mention but will give you an idea that yes a company can.
"...announced today that its Board of Directors had passed a resolution cancelling the previously announced 30:1 reverse split of its common stock, as per the 14C Information Statement filed with the Securities and Exchange Commission on February 11, 2014, and accordingly will notify all appropriate regulatory authorities that the reverse is withdrawn..."
"D*** S***ai, President and CEO, said, “We have become increasingly aware that putting into effect the 30:1 reverse split of our common stock has had a mixed reaction from our shareholders. Therefore, the Board of Directors decided that, for the benefit of our shareholders, we should cancel the reverse split and let the stock rise on its own merit while we continue to focus on growing the value of our stock by the growth of our business.” He added, “That said, the Board may take up the matter again later this year for a smaller reverse split solely to set the stage for its movement to a larger exchange, but for now, there will be no reverse split.”
Maybe THCZ is being sold on eBay because it isn;t anywhere near as readily available as Dr. Pepper?
What I'm saying is that even if there were a PR the moment it was released the result would have been the same, the price would have dropped and people would have started to dump their shares. It's not like people would stop and think "hmm well, a reverse split is coming up next week, should I hold or sell?"
This is a very small reverse split, and my feelings are that there is a plan behind this one by the company that will allow this to turn a profit for me, if I am wrong well, that's how it sometimes goes, but I held because of what I just said. Also ,most of the time by the time a company reverse splits, the PPS is in the triple 000's..this is not the case here.
You have to remember that being a trader on the OTC is not cut and dry...it's very psychological as well...strategy etc...
The result would have been the same whether they set it in stone in a morning or noon PR for all to easily see- people would have started to dump and think the worse as most have here. It's a 1:10 R/S...it could be 1:1000 like a couple I've been thru...
If someone doesn't know what an R/S is and how it works then they shouldn't be here, it's really that simple...
Yes, that's exactly right. TD the fee used to be 19 dollars, and on E-Trade I think it's still 9.99.
If it actually does reverse split nothing will happen Monday because it takes time (usually a week or more) for your broker to sort things out and the shares actually become trade-able again.
One of the advantages is that if it goes through as scheduled the share structure of this thing will be so damn small that it will move practically on breath alone.
Why do you think post R/S stocks like DIR% and NWA% are having such huge gains during this next here MJ wave? They are like ATM machines.
They can have my MDCN shares when they pry them from my cold dead supposed R/S split hands!!
R/S did my old DIR% shares wonders, been flipping it ever since. Not selling here...
Looks like big resistance at 23, thanks for the money THCZ, see you back in on the dip!
bids building
THCZ mentioned in MJ stock article
http://finance.yahoo.com/news/cannabis-industry-look-2015-125000582.html
looking good..
I warned peeps about the RSI yesterday...chu no wanna listen..
no worries, it'll go back up needs to cool down first...
some like to say charts don't matter in pennies- yes they do...
And they're doing that on all the major runners this morning...
bid has been 188 almost since the opening bell,,,,,complete BS.
CNN "weed 3" on Sunday night will without doubt mention CBD and HEMP benefits. may even make mention of HEMP infused drinks....either way, that's a catalyst right there. Only problem today is the d*!$%head MM's not raiding the bid to match the ask, despite massive buying volume.
Big premarket ask slaps going thru
Too big of a spread between the bid and ask, so essentially the stock did not even close at 4, but closed at 35. I got out early today, saw what was coming. Bid and ask will not tighten without buying volume, and MM's make their money on the spread between the bid and the ask, so they have this right where they want it.
Why do you think MBAY has been having a field day, running to the bid, then selling much higher into the ask for the past two days.
Hmm, interesting day tomorrow. I'm thinking it goes up.
Oooo, here come 9's again.
Bid sitting shittidiots not realizing if they just pay four tenths of a cent more from 196 to 02 they can slap the ask and move the PPS way up!
People have to see the hearing as the milestone it is, MJ was actually brought to the 'powers that be' for a reschedule consideration. That's a big deal, the outcome right now, is not as important as the action IMO...load em up!
RSI hits 90 to 95 on a daily chart, most of the time, no matter how hot a stock is running its gonna sell off a bit...not even 3 yet anyway, and just Wednesday at that, where's all this panic comong from...
RSI was cooking anyway...can't be surprised by a little sell off...take profits remember...
MJ stocks across the board are rising back up now, weak hands out, let's roll!