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CNBC says for investors this is a buying opportunity.
https://www.cnbc.com/2018/01/05/pot-stocks-take-a-hit-market-watchers-say-theyll-end-in-the-green.html
Congress HAS NOT approved federal funds for MJ prosecution. So any state AG who wants to prosecute MJ will need to do it from state funding not federal. With majority of Americans in support of MJ - 64% based on last poll, no AG will be prosecuting MJ using state funding when most states are always budget constrained. Plus they will be going against the will of their constituents with support of MJ at all time high and continuing to grow.
Big money who missed the boat initially are now getting on board because they see this as a firesale and a buying opportunity.
One thing is for sure. We know CA Attorney General Xavier Becerra has come out swinging vowing to vigorously defend CA voters and MJ in CA. Remember CA is world's 6th largest economy.
I saw Xavier on CNN and he is a staunch supporter of CA's rights and supporter of MJ.
If you can't see that this is a buying opportunity, you shouldn't be investing. As I said before and I will say it again - this is just status quo. What Sessions did because he knew it would be unpopular to act on MJ, he diverted the responsibilities to each state. Isn't this how it was before? Bottom line is that no Attorney General in their right mind will crack down on MJ because it is not popular with their constituents. Also Warren Buffet's motto was buy when everyone is fearful if you believe in the stock.
Republicans in Colorado and CA are already blasting Jeff Sessions.
Expect a big battle. Many republicans and most democrats are united on this issue.
https://www.usnews.com/news/politics/articles/2018-01-04/cory-gardner-blasts-sessions-over-marijuana-policy-shift
People who have the foresight like you are the ones who make money. Today was a great buying opportunity. I wish I had more funds to buy more but I don't. I'm happy with my 21+ million shares.
Perhaps in the short term.
Long term, the growth is so significant, big money will not be able to stay away. Buy when everyone is fearful. Warren Buffet once said that. This is a buying opportunity.
When people realize what Jeff Sessions has said is just another version of status quo, people will regret they missed out on this great buying opportunity. This knee jerk reaction is extreme. The states that have legalized MJ either for medical or recreational or both, no attorney general in their right mind will go against the will of the people.
The charts for Aurora and ACOL don't appear to be correlated.
Aurora has broken out from a long period of flat sideway trading vs. ACOL which has been trending down ever since this Feb.
I still believe CA and Canada will drive ACOL higher but that depends on when the big money finally relinquishes it choke hold on ACOL and MJ sector in general and go long in the sector. I still think big money overall is short in the sector. The latest bounce we saw may have been just short covering from prolonged shorting by big money.
Let's see how this plays out from now until end of Q1'18.
Jeff Sessions and these negative articles continue to hinder MJ momentum in the midst of Canada and CA legal play.
https://www.fool.com/investing/2017/11/04/jeff-sessions-once-again-hints-that-a-marijuana-cr.aspx
https://www.fool.com/investing/2017/12/02/jeff-sessions-may-be-6-days-from-declaring-war-o-2.aspx
Chart is looking like a start of repeat of this June until beginning of November. Downward trend for another five or six months. I hope I'm wrong but chart does not look good.
Just my opinion but the big money shorts have ACOL in full control. The latest pop we had appears to have been short covering. We had the biggest pop in Jan/Feb, then another one in June, then lastest one in Nov. We've been heading lower with lower lows and lower highs including these "pops." I thought it would be different this time because of CA and Canada. Not so sure anymore. The trend continues to head lower.
Happy Thanksgiving to You All
There are a lot of people still underwater on this stock.
Let's see where the big money takes us.
In it for the long haul.
GLTA
BillyBob,
You must have a lot invested in this stock based on how closely you observe this stock.
I do like your commentary and perspective about this stock.
Good to see the stock finally move in the right direction.
Broke the resistance at .0088
We are at the beginning of the run. Let's see how small or big this run will be.
Nice Volume to go with Breaking of Upper Resistance at .0088
Good Luck to All
Good points BillyBob.
This company is headquartered in CA, the groundwork has already been done in Canada. Like you say, the company is invested and already has good base operations with positioning already established in Canada. CBD products having highest profit margins really sets ACOL as the company to watch in the near term. One of the few MJ companies with honest management. Great potential for acquisition for Medtainer, edibles, and CBD products. Company is getting all the ducks in a row. Stars are aligning.
There are the near term catalysts why this will run.
Know what you own and understand why this stock is ready to take off.
- EZ Health
- Health Canada if it gets mandated Medtainers become standard for Canada
- They have facility in Canada and big percentage of their sales is from Canada. Sales will jump exponentially when MJ becomes legal next year.
- They are based in CA and they should reap state benefits with MJ being legal in CA next year
- ACOL will be entering CBD market and CBD market has very high profit margins
Now buy more
I'm predicting this will fall to 0.0070 followed by a reversal/short covering in the next few days. Get ready to back up the truck.
15 Reasons Why I Own Significant Number of Shares and Reasons Why ACOL Will Rally Sooner than Later
1. Recreational MJ will be legal in California in January 2018 (California has World's 6th Largest Economy)
2. Recreational MJ will be legal in Canada in July 2018
3. Mid Term Elections in November 2018 (All 435 H of R seats and 33 of Senates 100 seats contested)
4. Continuous Debt Reduction - Almost no Debt
5. Revenue Growth - One of the few MJ Companies Generating Revenue
6. Medtainer is NOT just MJ product - It is used by ANYONE that need to crush or break pills for easy swallowing
7. Only grinder that is FDA approved
8. Mexico will legalize recreational MJ eventually
9. Management has been transparent to shareholders
10. Company's debt-reduction advances plans to move to OTC-QB
11. Expanding into CBD and Cannabis Extract Market
12. EZ Health Solutions
13. Partnership Agreement with Desiccare Inc. - MedX Label
14. Charts - Technically getting ready to run
15. Sessions likely will stick to Cole Memo Status Quo