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Then after November 6th
Honestly I don't spend much time pouring over the numbers of any MJ company. In the 2016 rush one of my best performers didn't even have a product, let alone any income. If a rush is gonna happen this time it'll be in Sept or Oct
CANN isn't fake. It's local to me and I was in the original group that helped it go public originally back before MJ legalization took effect in Colorado.
Neat.
Tell you what. Lets see what happens if things go poorly for the Republicans in November. ;)
Interesting bump in volume today
What new filings?
Because it was the CA legalization rush. And what did Jeff Sessions do mid rush? He rescinded the Cole Memo. What has the MJ sector done since the cole memo was rescinded? What happened THE DAY the cole memo was rescinded?
tell me again what happened to the sector when Trump won in 2016. Tell me again what Jeff Sessions did when CA legalized and we were mid rush.
Tell me again how many MJ related bills Mitch McConnell has brought to a floor vote.
Tell me again what the sector has been doing since Trump has been in office.
What's CANN's current price? Where was CANN during the CA legalization rush and what happened when Jeff Sessions rescinded the Cole memo?
No one has been making money in MJ while the Republicans have refused to pass any legislation, give banking access, or reschedule MJ. If you want to vote for Trump, then by all means do so. But you don't get to lie about how successful the sector has been and how much money we've all made, and you don't get to pretend you're voting against your own best interests
Right, what I'm meaning is, it could be soon because suddenly the forum is getting attention, where before it was dead
I've been trying to find an answer to that myself. The vote to approve the name change was nearly 2 months ago, and I received multiple notices via mail and email stating such. I can't find a firm answer on how long the actual name and ticker change takes once the vote has taken place and the shareholders have been notified. I hope if someone knows they'll post up about it.
I wonder if it's soon because this forum suddenly got some bot accounts who blasted the forum with nonsense and two new moderators in that same time, when the forum up until the 8th of July when before that the forum was largely dead. In fact, it went a month without a single post, then suddenly we have pages and pages of hype and two moderators.
Does anyone know roughly what the process is and the time required for a name change and ticker change? Aside from the posting in this forum in the news section, I got multiple notices that the name change and share increase was voted on and approved. I got a package in the mail from Td Ameritrade stating the same. Is there a time requirement that must be met when notifying share holders, or a time requirement on the part of the SEC? Or is it where the paperwork gets submitted, then it happens when it happens? I can't really find a specific answer.
That happened to me in 2016. She came down to this price point after I bought at $1.25.
The sector is politically driven. If the Republicans lose control of the senate, and especially if Trump is out of the white house, we'll all make a lot of money.
Positive for me is above 45 cents or so. I've just been accumulating down here.
Because last time we had an election rush, that's when it started. If things start looking bad for the Republicans, expect money to start flowing into the sector again as the election approaches. In 2016, September saw some moderate price action, and October we saw ridiculous price action. The summer of that year was very boring.
Survive a couple months? I'm sure it'll be fine.
I've been picking up a little here and there at these price points.
You 4 new accounts who keep repeating the same things over and over going to buy any today? You didn't buy any yesterday, and actually haven't loaded much of this stock at all since the 8th when you all decided to show up
Neither. Trading action across the board is determined by overall excitement. So while the sector is down, so will this stock. If things start looking bad for Republicans as the elections approach, expect the sector to start heating up. We're going to be below a dollar until August at the very earliest, but I'd actually plan on holding out until September
Zero shares traded today. Where you new accounts at? I thought this was a good buy
Too true. Hidden gem they aren't buying. One one of those accounts is only days old. Two of them are only a couple months old.
Yes. Democrats across the board are good for the MJ market, Trump and his ilk have been terrible for it. Jeff Sessions single handedly ended the California legalization rush.
In 2016, CANN was floating around at the $1.10 - 1.25 range and shot up to $2 before coming back down. It did that twice. After it came down that second time, I threw an extra $10,000 at it, and it continued to drop all the way down to about $0.38 for weeks. Then eventually, we saw what happened to the price, and a lot of money was made by a lot of people
Right now we're all just waiting. It'll be some time before we see any significant upward movement
We're still in the very early stages of anything that may be happening. If the movement here was political in nature, we're still 5 months away from elections and that's far too early to really predict anything with any accuracy. My thoughts were that there was an obvious change in the political winds, and there was some early traders hoping to get in if there's to be a repeat of the 2016 rush. So we saw some shares exchanging hands, and now we're seeing some waiting. I think we'll see some more bursts of activity over the next few months with the very earliest of any excitement happening maybe in September or October. I was looking for a mild price increase in August perhaps, with July being fairly boring.
There's also the volatility in the DOW to consider. Perhaps people are worried about how COVID is going to affect the economy and are playing these stocks closer to the chest. Most states are seeing increased numbers of cases and only a few states are seeing decreases. Uncertainty is an underlying force that controls everything but is impossible to track or gauge. Or maybe the people who wanted to get in early have done so and are now waiting.
Either way, I thought nothing of the volume coming back to these levels and expected it would happen. There's no driving force to keep the volume up or move the price upward. Mitch McConnell has said he's the Grim Reaper of any Democrat legislation, so there's no chance of any Democrat led pro-MJ bills even getting a Senate vote. Cory Gardner is the lone Republican trying to push MJ legislation as he's hoping to save his job, but Colorado is pretty confident he's out on his ass in November. Aside from him, no Republican has offered any real support of any bill that would make a positive move in this sector. There's a chance there's banking access is added to a second stimulus package, but McConnell has already said he won't support it, and I can't picture the Democrats pushing too hard on that particular issue when the big picture of the stimulus is more important.
It's also worth noting that 100k shares in a trading day is still higher than some of the daily volumes we've seen in the past. During the long doldrums before California legalized, a big day might be 30,000 shares. So there's still interest there, just not 2 million shares and $8pps worth.
I suppose. It would seem strange to authorize 50% more shares only to turn around a do a reverse split, when they could have just done a reverse split to the lower number of shares they wanted.
I'd assume they aren't doing a reverse split, since in the Def 14c, they had this to say:
"On May 21, 2020, the Board of Directors of Canfield Medical Supply, Inc. (the “Company”) adopted resolutions:
1) Approving an increase in the number of shares of common stock of the Company (the “Common Stock”) that the Company is authorized to issue from 100,000,000 to 150,000,000 as provided for herein (the “Increase in Authorized Shares)”
I'm not able to nail down a clear reason. In the past, MJ sector movement was tied to political stuff. Laws changing, states legalizing, the cole memo, etc. I'm starting to suspect we're seeing money flow into the sector in anticipation of Democrats taking congress after the elections. Republican control has seen the removal of the cole memo and a gridlock of bills not being brought to the floor. Flip a couple seats and now you can get these things to a vote.
the most recent 8k filing states they gained approval from shareholders to change the name to Splash Beverage Group. There before that there was a pre-14c filed in relation to the voting.
The merger itself happened some weeks ago, so it seems like we were waiting on the SEC required and other legally required stuff to happen, which finally did on May 28. Now that the shareholders have approved the name change, we're only waiting on the ticker symbol to be changed as well.
I think the chances of that happening today are approaching zero.
IMO, we've got a few weeks yet. I'd love to be wrong, but with the long slumber the sector has been in up until very recently, it'll take a bit down here at the bottom before any real upward movement.
Is this the story you posted?
https://www.globenewswire.com/news-release/2020/05/28/2040198/0/en/General-Cannabis-Corp-Receives-Regulatory-Approval-from-State-of-Colorado-to-Complete-the-Acquisition-of-Cannasseur.html
I can't read your link without having Apple news on my phone.
If so, that's pretty awesome. They've acquired tons of space in the last couple weeks.
Definitely good. To me it's showing a cautious optimism. We're seeing continued trading at increased volume and price. That must mean there's some interest in the next stimulus package including some MJ market specific items, even though Senate Republicans have said they wouldn't support it. That's pretty important, as nothing else has really awoken the market, not even hemp being legalized.
It may also be the earliest signs of investors feeling confident about a change in congressional makeup, as at least a few Republicans look like they'll be replaced by Democrats in the senate. Whatever one's political leanings, its become pretty clear that Republican control isn't good for the MJ market with the Cole memo being rescinded and the refusal to let any Pro-MJ legislation pass. Another one of my MJ holdings has been very active since the same time as CANN. Generally speaking, CANN is usually one of the first indicators of a positive market change
Enjoying this continued volume. I'm mostly sitting tight, flipping a little, here and there
Awesome stuff. Now the movement makes a little more sense. ??
Is there a piece of legislation you're following?
Interesting couple days. I noticed one of my other holdings was seeing a lot of renewed activity as well. Picked up some CANN over the last couple months while we were down here at the bottom. The political landscape hasn't necessarily changed, however, so I'm not looking for any big moves, but I'm certainly watching closely anyway.
House Financial Services Committee passes SAFE act in 45-15 vote.
https://www.marketwatch.com/story/cannabis-banking-bill-easily-clears-house-financial-services-committee-2019-03-28
Financial Services Committee passed the SAFE act by a 45-15 vote.
https://www.marketwatch.com/story/cannabis-banking-bill-easily-clears-house-financial-services-committee-2019-03-28
House Financial Services Committee will vote on Banking protections for MJ companies next week.
https://www.marijuanamoment.net/first-congressional-marijuana-vote-of-2019-officially-scheduled-for-next-week/
Rep. Blumenauer, late last year, laid out a schedule he believed the house should follow in regards to MJ policy. It appears that rough schedule is being followed.
I dont see any reason for this not going to the House floor for a full vote
House Financial Services Committee will vote on Banking protections for MJ companies next week.
https://www.marijuanamoment.net/first-congressional-marijuana-vote-of-2019-officially-scheduled-for-next-week/
Rep. Blumenauer, late last year, laid out a schedule he believed the house should follow in regards to MJ policy. It appears that rough schedule is being followed.
I dont see any reason for this not going to the House floor for a full vote
House Financial Services committee held a hearing yesterday on banking access for MJ companies. This is the start of the schedule that Rep. Blumenauer laid out.
I'm not doing much these days. In the low to mid 2s, I just hang on and wait. I'll buy some if it dips into the 1s again and buy a lot if we see the low 1s.
Rep. Blumenauer one of the main Democrats on the MJ legalization front has laid out a schedule for the house to start voting on these things, starting soon with more major things coming up in April. We'll see how the Senate responds to these things, but even under Republican control, the Senate was already more Pro-MJ than the previous house. So this year we could see some legitimate hype events coming up.