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You're a broken record at this point. We get it, you can say the word scam over and over. Your opinion is noted, and in spite of that opinion you claim to be "making money," and ready to "run away." Maybe shut up already and stop spamming the boards with the same stuff day in and day out.
In 2014 it hit $66. That was due to a mistake in reporting on a stock channel, BUT, it still did it. I sold at $28 that year and watched as it kept right on going. LOL.
2016 was a bit boring, but $5 was still fun.
2018, it sailed right past $5 to almost $12 without a second thought.
So this year, given there are no political appointees who will stand in the way, we could be in for a LOT of fun
I've mentioned before that I don't consider any MJ stock to be worth holding long term. That could change if the SAFE banking act is passed and the industry is allowed to finally flourish and not be some strange cash-only hackjob. But which company then will emerge as the MJ blue chip is anyone's guess.
If we're indeed in the beginnings of another 2014/16/18 rush, you'll have plenty of opportunity to make your money back, so take your profits at increments, and play with the rest how you feel. But whatever prices we see will be temporary.
We weren't waiting for news. We were waiting for the new administration to take office, and the new senators to be sworn in, as yesterday and today showed. These MJ rushes aren't based on any company fundamentals or performances. Purely hype, excitement and share structures.
I've mentioned before, one of my best performers in 2016 didn't even have a product. LOL. They had no revenue and had a valuation of a billion dollars at one point. CANN is typically the leading edge of these MJ rushes, so since we're seeing this type of action, the rest of the sector will soon follow.
Crossed that $1 mark! CANN once again leads the way. Hopefully we're in for a repeat of the CA legalization rush, we soared right up to double digit prices in days.
No, there's an MJ friendly administration and congress in charge now. Mitch McConnell being out as Senate Majority leader means actual legislative progress can be made.
The market overall woke up today, I'm up between 25 and 35% in my whole portfolio
Heck yes! I'm having an amazing day
Day is heating up as we continue. Great volume and price action
Some resistance there at 70 cents. Even still, positive day for the market
Some pre-market activity in my whole portfolio. I have several positive gaps forming. No way to tell if it means anything or is a blip, but we had big volume and positive closes on multiple tickers yesterday
It may not even be a hammer or a singular event. What specifically we're waiting for now I'm not sure, as I'd expected the GA runoff to be that event. But, could be the new admin needs to take office and actually do something pro-MJ (Biden himself is a doofus and has spoken negatively of it during the campaign), or we're waiting for the possible legislation to become actual legislation and there won't be a hype associated rush. The previous two rushes were hype based and both were ended specifically because of politics, so perhaps this time, especially with the pandemic casting a touch of uncertainty across all economies, it needs to be a little more certain. The important thing is, Mitch McConnell lost his job, as the senate majority leader and now MJ bills can come to the senate floor and be passed with bipartisan support, which would have happened had Mitch not been an out of touch dinosaur who hated all things MJ, even when his own party wished otherwise.
Both Georgia seats went Democrat.
Now, this ridiculous backlog of MJ bills can actually get voted on. Hell, even if they're defeated, at least they'll be VOTED on. Mitch and his committee appointees made sure none of this shit even came to the floor.
Sector across the board seems to be anticipating good news. GA will finalize later today. Its still possible Ossoff loses, but unlikely at this point. I think the activity in the sector reflects this kind of tempered expectation. It's not over 'til it's over
Its as close as it comes in the other race. If Mitch McConnell no longer controls what comes up for a vote, now we have banking, rescheduling and decriminalization on the table.
Georgia runoff results are going to determine what happens in the sector. If the two democrats, who are leading in the polls right now, win, I believe we're in for one hell of a rush. If Mitch McConnell remains the Senate Majority leader, I think we'll still see some positive action, just not nearly as big.
Neat. Better go pay attention to those boards then
"Everyone" is excited about what the market might bring. The MJ stocks I keep watch on are acting in this same way. Big days of excitement,then retractions. This has less to do with CANN and more to do with the market itself. Another holding I play saw a HUGE price jump the other day and now it's back where it started. The real question is, if the market will go into another rush like it did in 2014, 2016 and briefly in 2018, and if it will, when. So far there seems to be increased interest and money flowing into the sector, but not quite enough to cause a full on rush. Or, It could be that the ramp up will take more time, like it did in 2016, which took a couple months of regular price increases and consolidation days. Or it could be that this is what the market is destined to this time. Who knows. But I will say that individual companies and finances don't matter at all. If the sector rushes, CANN will too. I've mentioned before in 2016 one of my best plays didn't even have a product at all. And their headquarters was some guy's house in CA. LOL
I agree with all of that. States and voters are already on board, it's literally just a few holdouts in Congress standing in the way. Particularly ONE Republican in congress. It'll eventually happen, I just doubt ol' Mitch will step out of the way any time soon. He doesn't even bring up Republican supported legislation if it involves MJ.
We knew it would pass the house. I still think the chances of it passing or even coming up for a vote in the Senate are approaching zero. I'd love to be wrong though.
BACK IN THE HIGH LIFE AGAIN, BOYS
Casually sailed right up to 0116. I didn't expect that today. I'm loving this morning
ALMOST A PENNY MY DUDES
Incorrect. The majority leader decides.
The Senate Majority Leader decides what gets voted on. Id love to be wrong here, believe me, but as long as McConnell is in this position we won't see a sweeping legalization bill come up to a floor vote. A different Republican, sure, but not him.
No. Itll never pass the Senate. Mitch McConnell won't let any MJ bill come to a floor vote. He's old and stuck in his ways and doesn't see the economic or political advantages
I felt the same way. One of my other stocks actually did this exact same thing on Monday and Tuesday. Seems like the price action is making its way through the market. Let's see if MCOA does the same. Red tomorrow, green Friday or Monday.
Closed on that up-tick. Not quite the high of the day, but we're in the 60s now, so I'll take it. :D
Also of note, I've mentioned the rest of the market having positive grumblings. One of my other holdings today had the exact same day CANN did on Monday. So if that one has a retraction day tomorrow, it'll tell me that perhaps the moneyed interests are acquiring and flipping shares at these lower price levels.
The world is seeing the light, as are many many US states. Hell, an overwhelming majority of voters already want either want it decriminalized or legalized. Pretty much the only person standing in the way of the US removing its head from its collective anus is Mitch McConnell. As long as he's the senate majority leader, no MJ bill will come to a floor vote.
A couple of my holdings have been acting very similar to CANN. Big days, retractions, then some climbing afterward. Most of the market has been seeing this sort of low, positive grumbling, as even notoriously shitty stocks have been seeing increased prices and volumes.
He believes a symbolic legalization vote is a waste of time, considering it'll never pass the Senate, and there's limited time for a COVID relief package. I agree with him, as I think symbolic votes of any kind are almost always a waste of time, and there are more important things to worry about right now, as far as the legislation goes.
Eh. I don't know anyone who thinks seeking alpha is worth a shit. I know anecdotes don't mean much, but I doubt an article written by some 3rd rate has anything to do with anything.
One of my other MJ stocks is acting like CANN as well.
We're just back where we started. One day doesn't define a trend
I'm of the same opinion.
Yesterday could of course be a blip, so we need to see what the rest of the week does, but in previous rushes (especially 2018), we'd start big days with serious red dips before heading back up. It was a flippers paradise. Obviously we won't know if that's happening yet until there's a little more of a trend established, but a red morning to me isn't worrying.
In the 2016 rush, we seemed to have more red days than green ones. We'd had ~2 big green days a week and the others would be much more mild or red.
If we cross a buck we can expect more than that. CANN has no problem gaining $1+ a day if the market is feelin bullish
Hopefully a trend is emerging. We'll see what happens tomorrow. :D
That was nuts man. I had a feeling the last 30 minutes would be interesting but good lord I wasn't expecting that
$.705 MY DUDES. 1.3 million shares. Fabulous run up after lunch
That always seemed especially true with CANN. during previous rushes the stock would be going nuts and there's like 10 of us in here high fiving. LOL
Its ok. This board was never the busiest one. But with 700,000 shares traded, it's not just us