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Curious. Our CEO has mentioned "consolidation coming in the industry" a couple times recently. I wonder if he is getting offers already? I kind of hope he doesn't sell out...unless it's much higher.
Maybe Sessions and the Trump administration will not be as bad as feared -
https://www.merryjane.com/news/us-attorney-general-jeff-sessions-suggests-federal-marijuana-crackdown-is-not-possible
Sorry, something is not right with that story. Until we hear directly from Trump on his marijuana position, we will stay in a holding pattern. I'm holding a ton of this company's stock and am waiting it out. I do believe we made small strides in the right direction last week with this news Sessions met with the Russians. He will need all the friends he could get in Congress right now to keep his job. All the states and their congressmen that legalized marijuana are mad at him right now for saying he will enforce federal marijuana laws. He could get them on his side with a reversal of that. Even better, the redneck from Alabama may be forced to resign. I voted for Trump over Hillary but he is surrounding himself with idiots. Trump needs to clarify his marijuana position and do it quickly and clearly.
With pressure mounting for him to resign, Sessions will need all the friends in Congress he can get - ha.
Sessions only took himself out of any Russian inquiry.
We should be way up today on this "Sessions" news. Investors in our little company have no clue how big an impact this could be.
ATTORNEY GENERAL JEFF SESSIONS IN HOT WATER!!! RESIGN YOU FOOL!
https://www.rt.com/usa/379137-pelosi-sessions-resign/
Exactly the reason we're stuck in this trading range.
Trump addressed Congress last night and no mention of marijuana. I doubt going after marijuana in states that have legalized it is high on their agenda. Where is all the money going to come from to pay for all these things Trump wants to do? Better and cheaper for Trump to leave marijuana up to states to enforce.
Oh well. I said right along AGTK will be a 2 year or so hold. Let the weak hands fold now. There will be bumps along the way to a big payout.
It's that redneck attorney general from Alabama (Sessions) that's the problem with this stock not moving up yet. We can only hope that all 135 acres in this new development are all for MEDICAL purposes and not recreational.
Even Spicer's own staff hates him -
http://www.politico.com/story/2017/02/sean-spicer-targets-own-staff-in-leak-crackdown-235413
Spicer made his foolish comment on Thursday evening. In a follow up question, he referred questions to the Dept of Justice (DOJ). When the DOJ was asked about Trump's plans for cracking down on marijuana, they said we have "NO COMMENT". When I heard this on Friday, I thought "they have no comment because they don't know themselves what Trump's plans for marijuana are". I immediately put in a buy order for AGTK that was down 18% at the time. I could imagine the DOJ officials silently swearing at Spicer for opening his mouth and then referring questions to them. When the new Attorney General (Sessions) was questioned about marijuana in his hearings, he mentioned how they don't have the resources to go after it.
Two weeks ago on Friday Feb 10th, AGTK closed at .0265. We closed Friday at .0285 (down 15.18%). That's still up about 8% in 2 weeks. This may be one of the few remaining chances to buy under $3. Although I have qualified by saying right along we have to wait for Trump's position. Once he does, I believe the whole industry will breathe a sigh of relief. That's when we really take off.
Me too...although I bought mine a bit higher than we are now (.026) at 10:30am. They're throwing the baby out with the bath. Spicer actually said Trump favors medical marijuana. Hang in there. This will give Rookie an opportunity to spend all weekend bashing.
This is out this morning. It appears Trump's spokesman is back tracking from yesterday's comments. Load up -
"Later, Spicer seemed to suggest the matter was less settled than he initially indicated, and referred reporters to the Justice Department for comment and follow up. The Justice Department declined to comment to USA TODAY Network reporters."
I think Trump will want to keep recreational out of the hands of kids and drug cartels. I have no problem with that.They really don't have the resources to crack down on all. Trump favors medical marijuana anyway. This from an article yesterday -
"In 2013 — as states took up the issue of legalizing marijuana — then-Deputy Attorney General James Cole issued a memo reiterating that the Justice Department would continue to enforce federal drug laws.
But Cole said that in places that legalized marijuana, federal officials should look to the regulatory systems of states to determine whether they should intervene.
In states with robust systems, Cole wrote, federal officials should continue to leave the matter to local law enforcement. But states without such systems might face challenges from the federal government, he said.
Cole said the federal government’s priorities would include preventing distribution of marijuana to children and preventing cartels from getting their hands on revenue from marijuana sales.
Advocates of liberal marijuana laws have eyed the arrival of Attorney General Jeff Sessions with unease. The former Republican senator from Alabama has a long track record of speaking out against marijuana use.
In his confirmation hearings, Sessions acknowledged that disrupting states marijuana markets by enforcing federal marijuana laws could create a strain on federal resources. But he said he “won’t commit to never enforcing the law.”
Slow and steady climb is better. Agritek will be part of this new fund because of it's medical marijuana business plan -
"ETF Managers Group, based in Summit, New Jersey, has filed an initial registration statement for what could be the first cannabis exchange-traded fund (ETF), the Emerging AgroSphere ETF. The proposed fund will be focused on medical cannabis and will not invest in any companies that are focused on serving the non-medical marijuana market in the United States, Canada or any other country unless and until such time as the production and sale of non-medical marijuana becomes legal in the United States, Canada or such other country, respectively."
Nice how everyone here helps out and digs for info. Do you know that this news release on the 35 acre additional plot just hit on Yahoo less than an hour ago? Anyone here knew 4 hours ago and could have bought into the news much cheaper. Now that the news is getting more wide spread, volume and price have jumped.
Ross - It appears that this new ETF has filed paper work with the SEC -
https://www.sec.gov/Archives/edgar/data/1467831/000114420417009539/v459698_485apos.htm
If this fund wants to add roughly the same amount of money for each company, can you imagine how many shares of our 3 penny company they would need to buy? Those shares would be out of circulation for some time. AGTK is slowly bubbling beneath the surface.
When I was a kid, my grandparents had a 15 acre grape farm that was very large in my opinion. I can't fathom 115 acres. If this all gets developed, we will see a constant stream of revenue.
https://moneymorning.com/investing/for-marijuana-stocks-in-2017-real-estate-is-the-next-big-catalyst/
A27 - Actually if you look closer, he bought the shares in January at .032 cents each and sold them for a small loss in the past couple days. Something very big is up. There are probably a small hand full of investors who are even reading this site but those of us who are here can smell it coming. He said in the last news release that the share price was undervalued. Why would he sell a million shares at a tiny loss? He obviously is using the money on something large that we are not aware of yet. I'm also buying more today at this price level.
Market makers will take full advantage to reload their inventory after a full week of price gains. If you want to sell but don't put a sell price on your shares, these market makers will take you to the cleaners.
Trump has been in office for a whole month. He has gone after everything else like gangbusters. Not a word on enforcing marijuana. Maybe, just maybe he will leave marijuana legislation to individual states. That would be a huge plus for all marijuana stocks.
http://www.voanews.com/a/us-marijuana-industry-anxiously-awaits-new-ag-cannabis-position/3733096.html
SEC filing for acquiring shares back in 2015??? That's odd to be filing this tidbit now. Maybe a late filing or overlooked and caught now and getting themselves in compliance with requirements for something. Why bother otherwise? Just speculating but I believe they are getting all their ducks in a row...all their i's dotted and t's crossed for something big.
Possible reasons 1 - California license; 2 - requirement to be updated on SEC filings so this new fund could invest in the company's shares; 3 - Florida or Puerto Rico developments; 80 acre site development. We know all these and more are in the works. We just don't know when the first bombshell is announced that rockets the price up.
Great find TyTrades. I doubt this news is out to the general public or fully understood yet. Some of these companies trade at a much higher value than Agritek. If the fund initially buys roughly an equal dollar value on each of the company shares in the fund, imagine how many shares they may buy at 3 cents each. The nice part is that those shares will be taken out of circulation and put in the fund until sold.
Marijuana industry is expected to grow from today's $6 billion to over 50 billion dollars over the next several years. This won't be the last fund set up to invest in marijuana stocks. It would be fun to know when this fund is set up and approved so we can follow the price action when they start buying.
I've been saying right along that an investment in AGTK will take time to develop. We keep taking small steps forward. It's coming.
We need more thinking like this at the federal level of government -
https://dailyreckoning.com/marijuana-not-just-getting-high/
Another 5 million+ shares out of weak hands and into strong hands today.
I would take this slow steady 4 - 6 million share days with small advances for a whole month. What is happening is weak shares are being sold into stronger hands that may not sell right away. The spread is narrowing and a base in this range has been formed. We will need this strong base for lift off when it comes....and it will. Buy these cheap shares now. You will kick yourself in 6 - 9 months for not buying more at this price.
We are all focusing on the 80 acre development recently announced.
In the Jan 24th news release, the CEO also said -
"We plan to announce additional operations in the very near term for California in Humbolt County for the roll out of our California Premium Brand and partnerships in Puerto Rico with the first approved cultivation operation on the island. I am confident we now finally have the land assets, IP, management and funding behind us to turn the corner and make 2017 our most successful year in our corporate history," stated B. Michael Friedman, CEO of Agritek Holdings, Inc."
Looking forward to positive news to come soon.
If this story end up true, it's a game changer for Agritek (in a great way) -
http://www.sfgate.com/news/article/Marijuana-Today-AG-Sessions-leaning-toward-10928915.php
The story came out afternoon east coast time and may explain a late surge.
Steady revenue for a 2 1/2 penny stock is probably unheard of. We have to wait and see if Trump and his Attorney General leave States alone.
Oh Rookie - you're trying WAAAYYYYY too hard to bash this stock down. Just how short are you here?
Just imagine how much money Trump could save if he lets US States decide for themselves on legalizing marijuana.
Even police are leaning that way - https://www.entrepreneur.com/article/288925
The new Attorney Gen'l (Jeff Sessions) stated in his confirmation hearing that if Congress doesn't want marijuana laws enforced, they should change the law. This may get that ball rolling -
http://www.salon.com/2017/02/09/republican-congressman-introduces-legislation-that-would-take-marijuana-out-of-the-hands-of-the-federal-government/
This is going to be a slow process but could escalate quickly (as well as the price of this stock - slow for now but then a rapid increase in price).
"Purchase of 80 acres complete" What do you suppose that selling was used for? One day soon, this stock will explode upwards.
You have no clue and neither do I as to what they are planning to use the money for. Something big could be in the works. This gobbeleygook 8K is required by the SEC and keeps them in compliance. I'd look for more news out soon.