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More positive action. I like that it's backed up by the volume.
Same here
It's gonna be a fun ride. We just gotta be a little patient. And I'm saying that as if its not painful for me currently. Lol
Certainly does. And with all the warrants they've issued themselves this month, the officers all have a clear vested interest in the stock price performing well above current levels. Hopefully we see a new S1 and moves to uplist soon.
Seems like we're in quite the holding pattern. I picked up a few today, I'm done until after the election.
The meeting regarding the dilution of shares is at the end of next month. So if we have any election related action, we'll see it before the shareholder meeting happens
October 21st is the 15th day since the request to withdrawal was submitted. THE SECONC has until that day to decline or it is automatically approved. So, after the 15th is when SBEV can submit a new S1, and start working on forward progress again
Just normal price action. Only 3600 shares, so I'm not concerned with it.
Their request to withdraw from their S1 was on Sept 30, and the SEC has 15 days to decline, or its automatically approved. So we're right at the time limit where they can submit a new S1 and get things rolling in the NASDAQ direction.
For a time, yes. The next few months are the only thing I'm looking at. :D
Federal decriminalization is also a pretty big part of it. Allowing medical research and ending these draconian failed war on drugs policies will go a long way to seeing money flowing back into the sector. Banking will be one of the biggest single drivers.
And the only reason I like CANN is because of these rushes. During the in-between periods I don't even log on to this site much or even check my holding. There's maybe one or two buy and hold MJ stocks and CANN isn't one of them. But, if we see positive movement in the political/legal arena, CANN will run just as it has before. Overall I can see CANN withering and dying in a couple years, we'll just have a chance to make some money first.
I was disappointed to see the dilution in there. Part of what made CANN so fun to play during these rushes was their share structure. Hopefully the shareholders vote it down, we're just a couple weeks away from a potential MJ rush again.
But, even if they do dilute the shares, the stock will still run with the rest of the market, should things go a particular way in November. In the last rushes we've had, Penny stocks that didn't even sell real products saw huge price increases. That'll still happen with CANN, but would perhaps cap the upper limit some.
CANN hit 30 cents before the CA legalization rush too. While I agree CANN hasn't been performing well on the business side, the legislation part comes in for the entire MJ market basically being in the doldrums or dead water. If we see a change of administration or if the Senate changes majorities, we'll see the MJ market wake back up, CANN included.
This is true. Hell, even Obama had an Anti-MJ message on the White House website until the day he left office. But, I think even if Harris hadn't declared anything during the debate, we could still expect movement on these key issues with Democrats. It seems like Republican leadership is completely unwilling to budge and even bring these issues up (McConnell and the chairs of various key committees are very unfriendly to MJ across the board), while if MJ bills DO come up for a vote, there are Republicans who will vote for them, giving enough bipartisan support for them to pass. Guys like Tom McClintock, for example, routinely worked with democrats to get bills crafted.
Yes. The last 4 years of a Republican congress saw virtually nothing get done regarding the legalities of MJ, and Mitch McConnell declaring he's the Grim Reaper of any Democrat sponsored bill. McConnell also won't bring Republican sponsored MJ bills to the senate floor because he's an out of touch dinosaur that, along with a few other politicians, should just leave office forever. The markets didn't really care about hemp legalization (where I definitely expected they would, I was surprised at that lack of response), and serious issues regarding MJ have gone untouched. Banking access, federal decriminalization, de-scheduling or rescheduling, there's a long backlog of bills that would solve these federal questions and allow the states firm answers if they choose to legalize themselves. Biden himself is a doofus who has said he's not really in favor of legalization, but, the party itself overwhelmingly wants to solve these lingering issues and so it's very unlikely he'll stand in the way of that.
Fun fact: MJ Legalization votes tend to draw more voter participation than other social issues, including minimum wage and things along those lines.
But like I said the other day, one day of any trading action is a blip on the radar. We need to see if a trend develops.
I've been picking up here and there everywhere below 40 cents. CANN at this price is never a bad idea
One day of any action is a blip, even if it's positive. We'll see if a trend develops
I see no reason why the request should be denied. The hangup is usually company shares having been traded, but all of them are locked up for the next 18 months or so.
I've been picking up here and there all below 0.40
I think we'll have no problem comfortably sitting above $5 as the uplist approaches
Its a bear market across the board. Expect SBEV volume to be down as well, until the market makers are trying to keep the minimum bid price above $3-$4 for NASDAQ uplisting.
Other holdings of mine are down in volume 50% to even 75%
Awesome, thanks!
Do you know how that part of it works? I'm new to seeing a pink sheet uplist to the NASDAQ, and can't find solid details in Google
Much better. I like seeing some churning of shares even if the price is relatively the same. I'm excited to see how the uplist goes. I'd never looked into what it takes to get onto the NASDAQ, but its actually easier than it is for some of the shittier and less respected markets.
IB = Investment bank?
Another one of my other holdings had a big drop of as well. I checked several other companies and they were also trading below their averages. It seems to be a reduction in trades across the markets.
I gotta say I like that they're making moves, but I dislike that they named it something that looks like a typeo. Lol. Qplash looks like a text that wasn't proofread
Who are SBEV's market makers?
I figured one of the earliest goals would be to get uplisted. Also good news about the Copa acquisition.
Here's the requirements for being listed on the NASDAQ.
-Shareholders Equity of at least $2,000,000
-At least 100,000 shares of public float
-A minimum of 300+ shareholders
-Total assets of $4,000,000
-At least two market makers
-$3 minimum bid price of the company stock
-Public float market value of $1,000,000
Its still only been a month, and its a new company. While the team behind it has a proven track record, I'm not surprised its taking a bit to gain real momentum. Even with the positive press and experienced executives, they're a distribution company with just two products. Give it some time and we'll be rewarded big time for the patience.
The share structure is similar to another stock I've played a few times where its run from below $1 to well over $30. Also for reference, Monster energy trades at around $70. This company has some time before it reaches those levels,but still.
Cool
Neat
Decent action down here. Nice to see the total shorting action has decreased by 10% overall
I'd like to see a breakdown, because I feel like today was a normal trading day and we didn't have a high percentage of shorts
Thats correct. Penny stocks are usually defined as under $5 per share and traded OTC. Being above $5 would benefit us even if we're still on the OTC markets for a while, which we will be, since uplisting is a multi-step process that takes a little time
Not just a lack of DD, but a lack of strategy at all. 65% of the trading for the last month was shorting. That means some of them were shorting the stock while it was trading at less than $1. Or trading for less than $1.50 or $2. So from the very beginning, some jamoke saw the stock come up from 50 cents to 70 cents and said, "Yeah, this thing's coming down...." LOL
It would make more sense to sit back and not do anything than bet so hard on the margins.
I'm with ya, just not what I expected for such a new stock
Good lord. Its all shorts. Almost no normal trading going on
I agree. I'm actually surprised we've been floating around the 5s as much as we have. I was hoping to see $3 by the end of August, and here we are beyond it.
So much accumulating. Almost no one selling down low. I wonder if other traders are trying to facilitate that short squeeze for us. With enough support at $5, it seems unlikely we'd drop down very far for very long for those doofuses to cover. I normally don't care about any shorting action, but when I saw they accounted for 65% of the trading action this month, I really wanted to see them regret it. LOL
Heck yeah! Not bad at all
I'm certainly hoping so