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https://www.forbes.com/sites/kriskrane/2018/06/01/looking-for-big-returns-in-the-cannabis-market-look-east-not-west/
This article is two years old and explains the saturation back then. Many more have entered in the last two years. I know a lot about the industry, I’m in the hemp side, which is even more saturated. KG prices have dropped over 80% in the past 16 months. So don’t sit on your high horse and tell me I don’t know what I’m talking about. Bottom line is just wait and see how it plays out on the delayed earnings. Trying to create a startup brand and get distribution in a single state isn’t easy. Starting a cbd store in San Diego is telling enough for me. Stocks at .05. I don’t need any more justification than that.
It’s evident what we are invested in. A company that is in a declining saturated market with very little positive news to report to shareholders. At a mere .05 and continuing to see new lows. Not much lower we can go now without Reverse split or BK. Zero positive results to feel confident and even consider bringing in new money. It’s not looking good and everyone with investing experience knows it. Optimism is one thing, reality is what keeps us up at night.
Writing has been on the wall... Should of unloaded on the last bounce. Damnit.
It's funny how everyone wants you to post what Caroline said. All you have to do is pick up the phone and call her, or send her an email.
Least bit surprised. Seems like they don't want us to see what's under the hood. Caroline is just an employee, very limited knowledge of IR and clearly isn't good at it. Delaying another month certainly isn't a good look from a company that already has struggled with investor confidence. What a train wreck.
Caroline is always going to be positive. It’s her job. Proof will be in the pudding.
You can do as much DD as you want, but with this lack of disclosure and reporting from management, it's impossible to gauge the health of the company. The only tidbits we get are rumors, and the stock continues to lag (fall). One can own 100k shares at a measly $7000, yet no one is buying them up (including management). Typically not a good sign. Cash and sells are big issues IMO, and at a SP of $.07 cash isn't going to be easy to come by. The survival of this company boils down to management. Starts with the CEO and the board. Investors are in the dark waiting and hoping that a rabbit is going to be pulled out of the hat. We've seen a 75% decline in the SP with no explanation as to how they're going to bring it up. Sure, everyone is saying earnings, earnings, earnings. If earnings are going to be anywhere close to $5 million (which would be shocking and highly unlikely), one would assume that news would be dropped leading up to it to get a sharper rise in SP. One would also deduce with it being a couple weeks away, word would be leaked and we would see a gradual rise in SP. I've been in this for over a year, and certainly have no reason to sell at these numbers, but my hunch is we are hopeful and going to be disappointed. I'd love to be wrong in this case. Just my 2 cents.
I highly doubt there will be a conference call based on previous track record, but hopefully the new Board members will advise that they do. If earnings or solid (and that's a big if), I would think they will. If the numbers are what I'm expecting, I highly doubt it.
I certainly hope you're right. I'm predicting the opposite though. Ill be shocked if revs are more than $500k.
Obviously not. If they don’t won’t to inform it’s usually because it doesn’t look good behind the curtains. Only thing investors see is a bunch of tatted up 30 and 40 year olds with bags of weed. Great look.
Exactly. Said if it broke .10 it would continue to fall. Can gobble up 100k shares for a measly $6500 and no one wants it. Let's face the facts. If this company was performing, word would be out and investors, insiders, buddies, friends and family, would be gobbling up these shares at this price. When a stock gets down this low, it usually doesn't end well. OTC stocks fail way more often than they succeed. NGW isn't managed properly by any stretch. If they can't even keep their core investors informed what makes anyone think they can cash flow. On a trajectory to a true penny.. Lesson learned.
You will see a lot more inside buying if these numbers are in place. You would also see more press releases about the progression of sales and targets, IMO. When we land new stores, we share it on our social media. You can find our products at these locations. Not seeing any of that. Every business does things differently and hopefully these guys are just busy and aren't focused on the stock right now. Startups are always slower than expected and challenging. However, if the milestones are being achieved, my hunch is news would be released.
Insider buying of a couple thousand dollars when your paying yourself (who knows what) isn't really that significant in my eyes. Pay myself 30k a month and drop a couple thousand in stock is meaningless. Price is at .07 a share. Buy a half million shares, then I would agree with you that the future is bright and the insiders believe in the company. If we could get any concrete news on anything besides a meaningless CBD retail store, I would have confidence. All we have is a downtrend that seems to be heading back to another low with crickets from management. Nada, zilch, zippo.
Hd - I'll preface this with I have a lot of respect on what you have to say and it's obvious your very intelligent. My personal belief is NGW is in over their head. The market is saturated and the black market is still thriving in CA. NGW still hasn't brought in a solid CEO and IR is a complete catastrophe. If they haven't figured out these two essentials, I really question their ability to run a cash positive business. I'm in the manufacturing and distribution industry in hemp. Market share isn't easy. Revenues of $3 Million a month isn't easy and I can assure you NGW won't be close to that number. If they were, I would know about it through my contacts. I have a lot of distributors in the Cali market that are dialed into cannabis and NGW THC and CBD brands aren't being discussed or heard of in the channels. Their cash burn rate is high, and it will take a lot of sales to be profitable. They have raised a lot of money (primarily through LH), and their core investors are very nervous at this point. I know chuck is viewed as a rumor fear mongerer, but I've heard some of the same stories that he has. I'm trying to remain positive as I've invested quite a bit of money in this (as have you), but the fact is the powers to be haven't been providing us with the information we need to feel confident in our investment. That's usually not a good sign. Positive things would be conveyed to assure long term investors and entice new money. We aren't getting that and that's a big worry.
Saturated market. It isn't easy to sell without a well established brand.
I've been trading OTC for years. If you don't think there is TA then so be it. I completely disagree with you but that's my experience. That being said, sure longs help with increasing the sales price, but right now the trend is down and reversal hasn't been confirmed yet (hence why i said if it falls below .10 we may see potential a new low). IT held today though so that's positive. Agree it's not going anywhere without something earnings or a different IR team that can put out news and attract new investors. I'm long and I've been here a year avg down.
Agree. I've studied this company for over a year. They are doing a lot of things right, but their IR department needs help. The entire industry has taken a beating, but at these levels, I'm accumulating more. When this takes off (and it will), it can moon shot over $3 in days.
This needs to stay above .10 or we may go to new low....
stair stepping. needs to hold .10 USD.. hopefully leg up to .13-.14 next week. selling pressure has halted for now.
Leigh has millions of shares left. He had 8 million when he left the company.
Article says Flagship, which usually indicates more in the pipeline. Potential Franchise as well.
Interesting that they opened a cbd store as their flagship and not cannabis. I can tell you as an owner of 8 cbd stores, this is a good move for them as long as they have solid management handling the store(s).
Agree HD. We just need momentum to carry us. .50 easily possible in the next 2-3 months with solid earnings and cannabis sentiment reversing.
Looks like the cannabis stocks are making another move PM. Should be a good sign for continuation today. Will be great if NGW can break that .10-.11 mark and hold the gains.
Let's not get excited just yet. 57% is great, but we've had significant move ups last year only to go to new lows. It's going to be dependent on the sector as a whole as it seems to all run together. Certainly felt good to be above .10 today for a few minutes. Hopefully the trend continues tomorrow. Management could really take advantage here if they play their cards right.
good day for NGW so far. 17% and over .10 USD. Let's see if it holds. Low volume traded.
Cannabis markets seem to be recovering past couple of days. Hopefully not a bull trap but a confirmed reversal. Canopy, Tilray, Hexo, all looking solid past couple of days based on Congressional news. Great time for NGW to start putting out some press releases to bring in new investors. I'm not holding my breath on it, but would certainly be a great move to get stock price up. Last minute selling has ceased over last couple of days, so let's hope we push back to .10 and climb from there.
We also had another small dump right before the bell. I'm in agreement that Paul buying is a good thing. However, a $2500 investment isn't that much of a show optimism. Leigh was buying 100s of thousands of shares at .30. Cannabis stocks performed great yesterday on congressional news. Let's see if the sector can hold gains and start a recovery.
Legalization will not be a good thing for NGW and the other cannabis companies.
Hunter - I've been in many startups and have invested in many. My gut tells me that NGW is struggling. Growing and selling are two different animals. It's easy to grow weed and the market is saturated. Selling it in bulk with a black market is the challenge and my hunch is we are going to be in for a huge disappointment in February (assuming they even release the numbers). It's almost mid Jan and their hasn't been a peep on any guidance or success since first harvest. We are going to need a hail mary, buyout, or takeover I'm afraid in order to recoup our losses. I've been optimistic for a long time, but my gut is telling me this is a shit show (and my gut is usually spot on.) I'm still praying though :)
It's not Caroline. It's starts from the top down. Why is Caroline even in this position? Why is Mike Jennings the CEO? No one knows about this stock and even a release of some decent news isn't going to move the needle. OTC is hard enough with solid management. This management team is sub par and everyone knows it. I'd love to break even, but I've pretty much counted this up as a write off. What pisses me off the most is the amount of money that I have tied up and I knew to sell when Leigh left and didn't...
If that’s the big news Caroline was talking about what a joke. Another snoozer of a day. Can’t even excite investors at a measly .07
Not even close to their biggest mistake and I have stores and distribute to other stores my products as well. It won’t hurt them , but it is a concern that they’re trying to bring on retail stores when they should be focused on growing, extracting, and manufacturing. These guys are definitely amateurs when it comes to running a publicly traded company. I’d love to see their balance sheet and income statements. Then again, I probably can already guess it.
He’s speculating but there is a chance he’s right. NGW won’t have any rope after this quarter if they’re not making some headway. Hard to entice money at these levels. Reverse split won’t work for them either if they try and pull that card(which they will if numbers are bad). If they were hitting goals , this stock would be moving. I welcome a takeover at this point.
Exactly my fear. I’ve manufactured and distributed products for over 10 years and always list store locators on where you can purchase the product. These guys probably aren’t selling a lot. This market isn’t easy to penetrate. There’s a lot of companies selling cannabis. $3M a month is a fantasy . I’ll be impressed if they’re selling $250k a month. Hell I wouldn’t be surprised if they’re paying execs that much a month.
The only thing i can deduce is they aren't releasing news cause they have nothing positive to release. Which is a worry. Are they getting in new stores, how is the retention on the product, forecast for sales. Anything.
I'm beginning to wonder if the execs even care about the stock price at this point. Pretty easy to deduce that they don't given the lack of news, PR, investor conference call, etc. For a company that is going to need capital to expand and maintain operations, one would think they would have hired or attempted to bring in someone that could manage this task for them. I don't get it at all. Quiet isn't a good thing for them as it means stagnant stock price. The fact that one can literally buy 100k shares for $7k and no one is buying is also troubling. I've been more than patient with these guys, but at some point enough is enough. If their business acumen is as bad as their PR, who knows what the hell they are doing with the money they have raised. Ok. Rant over. I feel better.
Just too many other opportunities in the market to buy than NGW which basically no one knows about except for people on this board and early investors. Management non existent. It's going to take revenue and new Investor Relations to bring any confidence and exposure to capital to get this stock on a recovery. If people that sold for tax purposes don't re enter (which doesn't look like they are), this isn't going anywhere in the near future.
.85 is here. Unfortunately, it can still go way lower.
Chuck - Leigh has moved on. He’s not coming back. Trust me. I’d imagine he’s selling blocks at this point.