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Potential for a PR stating they are selling products at Whole Foods in the coming months.
Looks like Whole Foods is dipping their feet into CBD. One near LAX is selling CBD products but they only have 1 brand so far. It’s the ShiKai brand
Ouch, it was held in Committee.
https://sapro.senate.ca.gov/sites/sapro.senate.ca.gov/files/ASSEMBLY%20SUSPENSE%202019.pdf
Last Suspense file vote only 7 of the 12 Urgency bills made it to a full Senate vote.
And that’s the order they are reading off the bills
Seems like they are following this sheet. AB 228 should have been the first one called. Not sure if it will be called later or that just means it doesn’t pass to the Senate floor.
https://sapro.senate.ca.gov/sites/sapro.senate.ca.gov/files/Agenda%208-30-19%20Suspense.docx
It appears they skipped over AB 228, hope that isn’t bad news. We shall see when this is all said and done.
Senate Committee on Appropriations just under way
I know right. Anything that is perceived to be good news makes this stock go in the opposite direction.
Tomorrow we pretty much find out if AB 228 gets signed into law come October. Full Senate Vote and governors signature shouldn’t be any issue.
If CVSI PR’d that they expanded into 1,000 more stores this stock would hit $2.50 by next week.
PR’s have pretty much become a notice to sell your shares within a day or 2 of being issued.
And so officially.... Friday
https://sapro.senate.ca.gov/agenda
Will be interesting to see how long it takes to break and then sustain the $4 mark.
Won’t be surprised to see their products in 6,500+ stores by the end of the year with the help of AB 228 and some form of minimal regulation by the FDA.
August 29th is when the CA Senate Committee on Appropriations votes on bills in the suspense file. That is currently where AB 228 is at. Last time they voted on suspense file bills was in May and 84% made it out of the Committee and onto the Senate floor. Then September 13th is the deadline for all bills to be voted on by the Senate and October 13th is the deadline for the governor to sign bills into law. Biggest potential catalyst on the horizon.
Vote on AB 228 should be on Thursday August 29th, not Monday August 26th, seeing as the last vote on suspense file bills was on a Thursday before the other deadline to send bills to the Senate floor.
84% of bills in the suspense file last time were passed and made it to the Senate floor. One week away until AB 228 finally makes it out fo the CA Senate Committee on Appropriations.
**** Update on AB 228 ****
The Senate Committee on Appropriations votes on suspense file bills twice a year, both before fiscal committee deadlines of May 17th and August 30th. The Committee voted on suspense file bills on May 16th the first time, therefore I believe the next vote will be Thursday August 29th (not Monday August 26th as I said earlier)
Also a total of about 350 bills were voted on May 16th with 84% of those bills being passed for a Senate floor vote. So it seems like most bills make it out of the suspense file and and I imagine AB 228 will make it to the Senate floor as most do.
Only time will tell how big or small this catalyst will be.
6 days away from a potential catalyst that could spark some upward movement in the following months. If AB 228 makes it out of the suspense file and onto the Senate floor next Monday then it becomes a practical lock that allowing CBD in food, beverage, and cosmetics in California will become law by October 13th.
So from my reading we should know sometime next Monday whether or not AB 228 makes it to the Senate floor or not. I’m pretty sure all bill placed in the suspense file get voted on next Monday.
All bills placed on the suspense file need to be moved to the Senate floor by August 30th. So we should know within 2 weeks. If it makes it to the Senate floor it’s almost a lock to pass and be signed. Deadline for bills to be signed is October 13th.
September 13th is the last day legislators can pass a bill and October 13th is the last day the Governor can sign the bill into law.
Update on CA, AB 228 (at least from my understanding).
The bill has until August 30th to be reported to the Senate floor or else I believe the process has to start all over again.
CA AB 228 placed on suspense file like most bills voted on today. The long process just continues to drag out.
Crazy think about online sales being low is that if you google “CBD products” CVSIs website is on the first page and ahead of Charlottes Web which was on page 2 (at least it was every other time I checked). For all other search engines I believe CVSI pops up on page 2 and pretty sure ahead of Charlottes Web on most of those. You would figure more traffic and better online sales.
Yeah hearing results should come out today. At least on the website all other hearing results have come out the same day.
Every time I tried writing irrational in regards to ST, IHub autocorrected it to rational. Funny it will allow me to write irrational for other posters though. Go figure.
Probably get news on the status of AB 228 in a couple hours
Well, CA bringing us one step closer to great news on Monday. Can’t hurt.
August 12th will mean one step closer CA is to legalizing CBD in food, beverage and cosmetics
August 12th it will pass the Ca Senate Committee on Appropriations. This was posted on their agenda about a month ago. I don’t think they have met for many weeks. At least that’s what I remember after it passed the last Committee in June.
I agree
Company doubles the amount of stores their products are sold at, California is about to legalize CBD for food, drinks and supplements, Congress is working to regulate the use of CBD in food, drinks and supplements, and yet this stock reacts as if CBD was just criminalized again. It’s a head scratcher.
Just goes to show just because the company is doing great and heading in the right direction, doesn’t mean the pps will do the same.
Hope this train ride stops before $3.50 before it starts to work it’s way back past $5
Once you get addicted to diluting shares it can be tough to stop or slow down.
Unfortunately, too predictable
Mid day sell off coming right up.
Why the selling?
Is it because the company expects lower revenue numbers next qtr?
The ramped up dilution of shares?
Short attack due to low volume plus the 2 things mentioned above?
Great news = sell
Good news = sell
Fluff news = sell
This company is killing it, yet all anyone wants to do is sell.
Management appears to be addicted to dilution this qtr. 2 great PRs plus one fluff PR aren’t enough to satisfy their craving.