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You lost me at “Reddit predicted…..”
Highly unlikely to be squeezed based on the nearly 2b shares in circulation. Shorts have ample shares available to cover.
Covered a bunch of calls today. Made a tidy profit but it’s bittersweet since premiums are so depressed that there’s no point in selling more covered calls unless this pig moves.
I guess it’s bagholder time for me.
Schumer and the doors in Congress need to pass the Safe Banking Act to distract from their horrible mismanagement of Iraq and Afghanistan.
1.9b shares outstanding is a big reason why it’s hard to move SNDL like the other stocks you mentioned, particularly in regards to squeezing the shorts. There is an overabundance of cheap shares that make covering short equity or naked call positions
Buying SNDL shares is like buying a call option with no expiration. The only real risk here is a reverse split or further downside but barring a catastrophe, the shares won’t expire.
I’m buying shares in this range. Unfortunately I’ll be selling covered calls into any strength but I like this stock
Barring blowout earnings or major industry news, this looks like reverse split territory. Even after the decent news of the US Senate introducing (yet another) cannabis reform bill, SNDL and its peers are languishing. I am of the mind that SNDL will have to reverse split.
Madness!!!
If the term “trend scam” was in the dictionary, all it would say is See ERBB
American Green vending machines have been “consistently improving” since 2014 yet the devices are also “suspiciously absent” from any retail store and the few that have been rotated between retail locations have been returned by the proprietors, often without ever working.
The first machines claimed to be “age-verifying” with a drivers license. Those machines never succeeded in the 2 stores where they were dumped, then returned.
Then the lie became about “military-grade finger vein” identification but AG never even though about the implications of databasing such personal info. Not a single one of those machines ever sold a product at the 2 stores they were dumped at for photo ops.
Now the latest lie is about “facial recognition”. Uh, yeah, no thanks, I’ll go the the bar or concession stand and take my chances showing my ID to a human and not some database linked to a sketchy outfit like American Green. But we all know it’s a joke. A smokescreen. Window dressing. A TREND SCAM!
Who still believes this nonsense?!?
I’m comfortable shorting $1 strike puts and some of the shares assigned were from $1.5 strikes that were sold at .50-60 per contract giving the shares a $1ish cost basis.
Book value for SNDL is probably around .50-60/share so I’m comfortable in the $1 range for shares and options. I wouldn’t get long on puts mostly cause I’m short via covered calls and I would rather commit capital to shares than short derivatives
Smart play. I’ve been doing it for months.
Most of my shares were assigned via short puts so my cost basis is about nil.
I covered some Oct 15 3c today. Wanted to cover the Oct 15 1.5c but didn’t get a fill at my limit.
Also, I’ve got 300 Jan 23 1c though so I’m covered in case I want to replenish the shares sold in the Oct 15 1.5c
SNDL has been an ATM machine this year!
Sunstream commitment is interesting but my concern is that even with a $500mm investment from SNDL and comparable monies from SAF, that really won’t be much venture capital. I know it sounds crazy that $1b+ isn’t a lot of dough to spread around but Constellation Brands “testing the water” with an investment in Canopy was more than $4b…in addition, when US legislative changes are made to grant public institutional access to close to the plant companies, billions of dollars will pour into the cannabis industry…Sunstream will have to use the money wisely in the short time they may have if they want to compete or build a portfolio worthy of a major buyout.
Side note: since cannabis is still federally illegal in the US, public companies are not allowed to invest in close to the plant companies. Therefore institutional investment in the cannabis industry is exceptionally low. This is an atypical situation where the little investor can actually get in before the big players. Unfortunately, with < 5% institutional ownership and < 1% insider ownership, there are loads of free shares, making retail shareholders responsible for about $1.5b worth of shares. That imbalance makes a short squeeze less likely but it does provide the little folk a window of ownership to acquire a decent amount of cheap shares.
Disclosure: Long 36k shares, short lots of covered calls…..holding thru July/August before selling. Also at some point the broader markets are going to collapse. Has to happen, when not if. I’m not sure how that will affect the cannabis industry since it may be one of the only areas for growth
According to you Shearin is dead
Right? Died of a drug overdose or was that just a “joke”?
GPFT is a Typical OTC Scam
Make up total nonsense about “proprietary” garbage, put said garbage is a store or 2, release overpromising PRs, dump shares, issue more convertible debt, enrich insiders……rinse, repeat……
Hourglass is white label garbage with a Grapefruit sticker slapped on the packages
EVEN FORMER ERBB CEO SAY ITS A SCAM
Stephen Shearin now openly admits ERBB is a scam. Shearin has gone to the SEC on multiple occasions but the agency lacks the motivation and resources to go after American Green.
The American Green Machine is a shell game with 2 units being shipped around the USA to make appearances but no real intentions to scale the product. The grow op is a joke and none of that “revenue” ever appears in ERBB earnings report.
Folks, this company is one of the biggest scams on the OTC
Maybe don’t criminalize cannabis for nefarious reasons.
For 7 years American Green has LIED about vending machines and not one is working at a retail shop.
Are they sending these vending machines to Mars?!?!?
Right?!?!? ERBB is total JUNK
Lying about vending machines since 2014
First it was supposed to be cannabis vending but due diligence exposed that scam so now they are moving on to beer vending?
Too bad the SEC is so impotent cause this one is a perfect example of fraud.
Reverse split is a foregone conclusion
Absolutely has to happen. The float here is absurd
Uh, no. Nothing exciting there.
Just more nonsensical penny stock press releases.
All I got from that is Grapefruit signed a Non-Disclosure Agreement with 6PAK. Big whoop. That’s a joke. “We signed an NDA so we can talk about what’s happening but here’s what’s happening……a strategic alliance…..zzzzzzz”
This info is about as lame as it gets. Wake me up when 6PAK commits $20mm to Grapefruit for this “disruptive lotion technology”…..hint, I’ll be asleep until I die.
Sub-penny coming soon which is surprising considering Dixie is a real company, it’s just run by wholly incompetent management.
GPFT is a Slush Fund for the Yourists
This is just found money for them and a great way to hide other expenses. They didn’t “lose” $25mm cause they haven’t put that capital into the business. Essentially it’s like gambling with $100 and you win $10,000 but then blow $3,000. You’re still up $6,900 so who really cares about the $3,000?
The Yourists are trend scammers who latch on to popular trends in order to sucker people into buying their bullshit. These dudes are NOT cannabis industry pioneers trying to sell their products. They are about 5 steps scummier than Multi-Level Marketing sleazeballs. At least the MLM scum have to do a lot of legwork to sell their BS. The Yourists just sit on their tails and sucker in folks, much like how a toilet bowl works
That’s just not true
Nobody wants to sell, much less buy the products. I have 2 close friends that own CBD shops in LA and they’ve never heard of Grapefruit, nor have they been approached by any sales people to carry Grapefruit products. These are premiere CBD shops in high traffic areas of Los Angeles. When I discussed Grapefruit with one of the friends he said it is most likely a White Label that Grapefruit puts their logo on and resells. White Label products are produced product by a third party who then resells to companies that want to brand the product as their own.
As for the “Canadian deal”, that was supposed to be announced in April this year. It’s nearly the end of June. That “news” is old and likely defunct.
GOFT may pop on some BS but this company is a trend scam
There is plenty of potential w SNDL
No debt, a significant cash holding, an interesting foray into cannabis banking, acquisition of a rapidly expanding cannabis retail chain in Canada……
There are plenty of headwinds too…..1.8b shares outstanding, limited revenues, dilution, a likely reverse split…..
The pros are enough for me to throw some money into SNDL and hold for a while. I’m well hedged with covered calls and if it goes up I’ll happily sell the shares at a nice profit but I’ll keep playing this for one for a while
Any talk discounting US legalization is FUD
Don’t kid yourselves, it will have a global impact.
Institutional ownership of cannabis stocks is exceptionally low, 5-10%, and there is one single reason for the low institutional holdings;
Public companies are hesitant to invest in cannabis companies because THC is a Schedule 1 narcotic according to the DEA and the Controlled Substances Act has severe penalties for public companies that draw revenue from illicit, aka Schedule 1 substances
Period. US banking and investment companies can NOT invest in the industry, leaving smaller dark pools and venture capital to contribute in minuscule amounts. When cannabis is removed from the DEA’s Schedule 1 status and the Controlled Substances Act is reformed, a flood of major institutional money will pour into the cannabis industry
Billions of dollars have made from black market cannabis. Do people really think billions more won’t be made as prohibition ends? Uh, no.
Get it before the big money arrives.
Just the other day Jamie Diamon said JPM has about $500b in cash they are looking to invest over the next few years. I’m sure plenty of money will be aimed towards cannabis as it is going to be a major growth industry over the next decade or so, figuratively and literally.
Biden is deep in the pocket of “healthcare”
The US “healthcare” system is an abomination and the industry profiteers know that cannabis, psilocybin and other natural drugs will be major disruptors. What are they gonna do when these medications can be purchased at 7-11 or private dispensaries? Well, they’ll lose billion in revenue on medications cooked up in labs to start. They don’t want a medicine that can be grown in a spare closet or home garden!
And then there’s the liquor industry who are in the same boat, losing passengers to an better ship. And the private prison industry. Law enforcement……Followed by textile, oil, plastic and other industries that face losses due to hemp products.
I guarantee the hold up on US cannabis reform isn’t based on updating racist policy but the snags are rooted in the economic ramifications of allowing investment capital into the burgeoning cannabis industry.
Once Goldman Sachs, Blue Cross and the aforementioned groups get their way, things will start changing. This is quite infuriating especially for those who have been stewards of the plant through decades of prohibition. Big business and capitalism will, and in many cases already has begun to rot at the roots of the cannabis industry.
Ugh, looks like I’m buying shares.
I got about $5k in premium from shorting the puts so my cost basis will be reduced by about 1/3. Plus the covered calls I sold also generated a nice premium. Hoping for a pop soon so I can sell more covered calls. I’ve never gone wrong sell calls against my SNDL shares and even with these heavy bags I’m now holding, the position is nearly paid for.
GPFT is a typical trend scam penny stock
Plain and simple. Nothing to see here. They don’t have any THC products anywhere, period. The CBD offerings are a joke; it’s White Label crap they buy in bulk, lap a sticker on the packaging and send to market. Grapefruit’s distribution “model” is no different than if you or I wanted to sell something; build a basic website w POS capability and/or try to sell via online retails.
If they really believed in their crap the CEO would be hitting the streets like Phil Knight did with his sneakers. Instead the Youris crooks are sitting in their air conditioned offices collecting nice paychecks for making fraudulent, yet safe harbor covered claims about the business.
Trade it if you can, you may be lucky and time a pop, but if you hold GPFT for long term, you will be left with fractional penny shares.
But you, Mr Sano are well aware of all this as you have been legitimately calling it out for some time
There will not be a SHORT SQUEEZE
Short interest is around 200mm shares, and with 1.8b shares outstanding, there is little reason to cover because there is no shortage of shares. Call options premiums are dead with zero intrinsic value in all strikes except .50, leaving only time value which decreases daily.. Even naked calls are an easy cover because of the over abundance of shares.
Basically, traders are fine with the slow bleed out but let’s not kid ourselves about a short squeeze. This stock is bloated beyond the point of preventing any significant movement.
Not gonna matter
I know a former CEO of a popular, and totally fraudulent penny stock. After being ousted he contacted the SEC three separate times, finally giving a full statement on the third outreach. Two years later and the stock is still trading.
The SEC doesn’t have time to field most inquiries, much less the desire. Let’s not forget this is the same organization that prosecuted 1 banker for the malfeasance that lead to the 2009 financial crisis.
And ultimately there is nothing illegal going on with SNDL. Most likely the barcoding is due to quant trading, which as dirty as it is, still is fully legal.
The bigger problem with SNDL is the 1.8b outstanding shares….
Delisting is likely. SEC has been cracking down hard on OTC stocks that have been delinquent with their filings.
This company is DEAD
The SUN will come UP
I’m in for 1.50 next week
Or at least the 100 Jun 18 puts I shorted yesterday are. Should SNDL close above 1.25ish I’ll close those puts for 50% profit or I may get assigned 10,000 shares at $1 brining my cost basis up to about .99 on 40,000 long share
The Pump and Dump is over.
Now GPFT drifts lower, possibly into sub-penny unless some legalization tailwinds or a PR pump occurs.
Yup. The barcoding is ridiculous.
It’s one thing when an illiquid penny stock barcodes because sporadic trades come thru with minutes or hours of inactivity but when a stock as liquid and high volume as SNDL barcodes, something is amiss. I’ve never see such activity in 2 decades of trading.
That said, SNDL is in a real funk. Loads of shares and not a lot of revenue, yet…..it would be nice to hear from the company
Aight, time to short some puts!
I’m Selling to Open the October puts in the 1.5-3 strikes. That’s a long position for those who don’t know.
Dixie is a sleeper
I’m holding a few more months just to see where this plays out with looming cannabis reform in Congress. The 30 for 1 split is another issue. This could play in BellRocks favor as it has for some other cannabis companies but it does suck because big moves will only translate into smaller returns.
Since BellRock (Dixie) is a somewhat established brand, the hope would be that cannabis reform would allow for bank loans and other financial vehicles that would prevent the need for raising capital via dilution.
Personally, I’m not committing any more money towards this mangy dog.
SNDL follower numbers
188,000 followers on Stocktwits.
59,000 followers on Reddit.
If those folks held around 5-10,000 shares each, we could lock up the float and prevent this barcoding nonsense.
Gotta sell some covered calls here
I was holding out for a bigger pop. Didn’t sell any covered calls the other week when SNDL popped to 1.45 but it’s time. I’m sure it will bite me in the behind because the stock will pop the second the trade executes but there’s never an issue locking in profits.
Probably gonna sell some Oct covered calls
Sure, an what broker do they use?
Most retail brokers don’t allow clients to short stocks under $5 much less .09
GPFT will be sub-penny soon, continue to dilute and release bogus PRs......I’ve seen this 100x since the 2014 pot stock bubble.
From and insiders perspective, if you ask players in the SoCal/LA cannabis industry, Grapefruit is anywhere from “who the f..k is that” to “oh, yeah, I’ve heard of those guys”. The company has some of the most clueless “salespeople” trying to shop it around to local dispensaries. It’s a joke, and more likely just a trend scam
Shorts? On a .09 stock? Uh, no.
Only a clown would risk shorting for a Max return of less than a dime.
No, Grapefruit is a joke. Meager product offerings that don’t make money. Bogus PRs about partnerships and other fraudulent claims. Abysmal earnings.......
GPFT is garbage
Naw, these reverse mergers are the norm for shady penny stocks fraudulently claiming to be involved in the cannabis industry. I can name a dozen companies that were solar companies or social media companies before 2010 when the cannabis trend scam became popular amongst penny stocks.
The “disruptive” delivery BS from Grapefruit is one of those drunk moments dreamed up by scammers like the Yourists.