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ok, will do. ps: my sister in KS measures distance in miles. In CA, we measure distance in minutes or hours and minutes. lol.
I'm pretty sure Mr. Clark follows our competition, but I'd like to know what distributor got rocky mtn hemp drinks in the 99cent only stores in California. That's 350 stores in CA and surrounding areas. Primo shelf space (all 5 levels) with their 12oz cans. They sold out in about a month in the two stores near me and didn't restock. I could email Robert Clark to check on the distributor if anyone thinks that's a good idea? Maybe he already knows?
I want the maximum loss for tax purposes. Therefore 0.0001 is better than 0.0020. I'd like to see someone renew the Nevada corporation license before it officially expires in August. It's hard to believe this CEO with his supposed credentials could fail so miserably. When you go public, other ppl suffer when you fail.
Yep. And I'd like to see our sister with a presence here too. I'm in Sacramento area; sounds like you may be in LA.
Sorry, the sell order will be for 15,000 shares, not 500,000 shares. The 500k is another penny stock I'm dumping as well. Sorry for any confusion.
WIC postings very helpful. Thanks. I'm not happy that after 2 yrs, Kona Gold doesn't have a California distributor. 40 million ppl with recreational pot. A CA distributor should have been a priority long ago. As disclosure, I'm long with 500,000+ shares, some going back to 2005 during the Union Equity days.
As a heads up for holders of STOY shares, I plan to sell 500,000 shares at 0.0001 starting in October for tax loss purposes. The caveat is that I wouldn't sell if the company rises from the dead. If I sell, the current price should drop from 0.002 or so to 0.0001. If this stock is going to disappoint, then I want the max tax loss.
The FB posting is dated 2/21/17. Is that a mistake, or was this a year old posting? I don't have a FB account, so all I could see was the posting from your link with the 2017 date.
MM - how many shares of KGKG are you going to sell?
Wrinkles - Regarding the terms of service, many times it's helpful to expand the UGAZ conversation to include relevant info on other stocks/ETF's. Moderators need to understand that. So I'll just say that the 3x VIX is every bit as risky as you allude. I lost money in early 2017 on 2x VIX. Commodities like natural gas seem like the better play.
Sounds like a very savvy buy-in price. Hope you bought enough shares to make a decent profit. As a trader, you have to love volatility.
I think the standard RSI lookback period is 14. For short term traders, which seems good for ETF/ETN's, I'd use an RSI of 7 or less and a 1-day, 30 minute chart. That shows UGAZ's RSI in the 20's.
30 sounds good to me with only 30 minutes left in the regular session. Good luck to all.
I'd buy today and sell tomorrow. But then just when I think I understand this ETN, I'm proven wrong. I'm on the sidelines anyway until January.
Wrinkles' trading strategy is sound. I'll add that investors usually over-react to news. I count on that for buys and sells. Today looks like an over-reaction to the downside. Using this strategy, I'd say $6.30 to $6.35 would be a good bid with the plan to sell tomorrow. All in my humble opinion.
Looks like STOY has until 9/30/18 to emerge from default before the charter is revoked by Nevada. See link below. I think STOY will be acquired by some other corporate entity before then. Maybe a CA pot company? And again likely incorporated in Nevada (or Wyoming) where the corporate tax rate is 0% and shareholders have almost zero rights. I'll add that in my opinion management is not to be trusted so buyer beware of any venture involving Meyers or Adams.
https://answers.yahoo.com/question/index;_ylt=AwrT6Vn.gClaiOcAScAnnIlQ;_ylu=X3oDMTEyYmYybDlvBGNvbG8DZ3ExBHBvcwMxBHZ0aWQDQjQ3NzNfMQRzZWMDc2M-?qid=20080429181803AAELWXk
Fax, I see we both like to read financials. Good analysis! I can't stress enough how important revenue is. Pinkies notoriously increase float significantly to stay in business, and if revenues don't catch up with expenses rather quickly, everyone suffers. I've owned this stock, and periodically added shares, since 2005 when it traded under a different symbol with different management. There was a 1:10,000 R/S in 2010 and a 1:1,500 R/S in 2015 when the company was first in real estate and then in truck leasing. Now that Robert Clark manages the company, and we're in a promising new niche market, I'm operating on faith and trust in Mr. Clark's skill and ability to generate revenue. I'll be watching Q3 and Annual reports very closely. PS: I hope I'm not off-topic, but I'd like to have any "newbies" check out sister VATE, seriously undervalued in my opinion. Mr. Clark is lending his expertise to Ryan Medico's company.
I think ETrade is 2 days and TDAmeritrade (my other account) is 2 or 3 days. Swing trading is my current approach. I'm using Thursday inventory data, weather predictions, RSI, gut feeling, and the fact that futures trading is looking to the future whereas fundamental analysis is looking at the past. I have trouble justifying RSI on futures contracts, but I think that may be one tool that program traders are using. My current position is at $14.05 from 2 months ago, so I'm losing money this summer. I should have had a stop loss in long ago, but like many, got caught off guard with the low NG prices this summer.
I'm pretty sure after hours trading is not allowed for OTC Pink. From what I've read, market makers will sometimes withhold trades during the trading session and report them on a consolidated Form T within 30 minutes or so after close. This keeps them in compliance but allows some flexibility to control the market price for a particular stock during the regular trading session.
We will soon see VATE bids staying over a penny. Any dips below one cent are huge buying opportunities. IMHO
Pete - I just saw your comment on Trader Joes. Can you do a product request online or do you need to visit a store? I have a store nearby, but I'm more of a Winco shopper!
I will add that day trading restrictions are problematic for me! If I try to sell UGAZ shares that were purchased with proceeds from a previous sale that hasn't cleared, ETrade says my account can be suspended. I undertand the rule, but it still sucks when UGAZ frequently has 2 or 3 trading opportunities in a trading session. I guess one has to keep a large cash amount with the broker to seriously day trade.
Good luck with paying the bills with restricted stock. If you look at previous quarters, the float increased but not the issued/outstanding. That only happens when someone sells formerly restricted stock on the open market. Think insiders.
Standard RSI is 14 but I use 7 with a 1-day, 5-minute chart. I'm really a fundamentals type more than a chartist, but charting is the only way I know to play ball with institutional investors (program traders) in ETF/ETN's.
I wouldn't use market cap as a metric on penny stocks. If KGKG's current mkt cap looks undervalued, then so does Green Cures and Wanderport, and I wouldn't buy either of them. Instead, focus on REVENUE. Until we make enough money to pay the bills, the float will continue to rise until a reverse split becomes necessary to keep the bid above a penny. The CEO and CFO aren't working for free. They have formerly restricted stock now available for sale to pay their management fees. That increases float without increasing outstanding. Effective marketing and increasing sales are key to survival.
Wrinkles - what RSI are you using for UGAZ?
Luckys California was somewhat popular in the 1990's. They changed names several times (someone mentioned Albertson's) and are now Save Mart. Save Mart still carries some stores under the Lucky California banner in the San Francisco area. Much, much more preferable is to get Kona Gold in Trader Joe's. That's where it's happening! And they're state-wide. I'd put Trader Joe's up against Whole Foods for customers who are willing to pay extra for higher quality, healthy, and niche market grocery items.
Sounds like we're on the same page! I mentioned the $10k annual fee for OTCQB per OTC's website. Seems steep for penny stocks, but I guess OTC Marketplace sees this as a way to keep those of dubious business practices in pinkie land.
Good point! I'll add that management is careful when selling shares on the open market not to hurt the closing price. The sales will be early in the day. In Q1, Mr. Clark increased the float by 101 million shares, all from the treasury, none restricted. In Q2, he increased the float 18 million shares from formerly restricted stock (no increase in issued/outstanding, thus not from the treasury).
He and Ryan have to pay the bills (including their salaries) with little operational revenue to use, so they are smart and prudent managers with their timing of share sales. By the way, there's no evidence of the company selling restricted shares to generate cash. If so, you'd see issued and outstanding shares increasing more than the float.
Business license expires next month. My guess is no one will renew it and STOY will become a shell. Maybe our toy company will resurrect itself in the MJ sector? Doobie Wiggy?
I agree. VATE is a real bargain at these prices. I have a lot of faith in Medico and his advisors.
Pick, the 2 million shares from one seller that you mention could have come from the company. We know the float increased from 215M at 3/31 to 233M at 6/30, so Mr. Clark likely prefers to sell stock on the open market instead of incurring debt. If true, his 2 million share sale would have netted about $20k. Interesting that the annual fee for OTCQB is $10k. It's possible that the sale at market prices was to generate cash for the OTC Marketplace upgrade as well as CPA and legal fees. Just tossing this out as food for thought. GLTA
We should be getting the Q2 financials next week. Will be interesting if they turn out to be audited (meaning CPA) numbers.
I'm adding too. Any time I can make a profit, large or small, on a penny stock, I'll be buying.
Elliott's is in a high traffic area. Lots of restaurants, wingstop, panera bread, Walmart, Sam's club, a bowling alley, etc etc. Good location, but Elliott's is a small family owned single store. I used to get supplements there before Whole Foods, Trader Joes, GNC, and other chains moved in. Still, it's a foot in the door. Another excellent market just 90 miles away is Lake Tahoe. I'd like to see Kona Gold at some of the hemp shops there.
Fax, great financial analysis, thanks. I'll add two points about float. First, RM has more than 500M shares in float, which makes a reverse split very possible down the road. Second, the float is a large part of the issued and outstanding, so mgmt seems to prefer salary over share appreciation.
Large gap between bid and ask. Level 2 was showing more bids than asks a few minutes ago. There's not much standing in the way of 0.007.
Thanks for the link. That page is a little vague, saying "minimun bid price of 0.01" For how long? I like this current reference better. See #4 which is probably why Mr. Clark decided to spend the money on audited financials. #4 is attainable.
https://www.otcmarkets.com/content/doc/OTCQB/release3.pdf
Can you provide the actual citation that OTC companies need to close at over 0.01 for 30 days to qualify for the OTCQB?
Here are some things I like about KGKG. Reducing debt without issuing stock is big. The S-1 and moving up to OTCQB equally big.
ROCKLEDGE, Fla., May 10, 2017 (GLOBE NEWSWIRE) -- Kona Gold Solutions, Inc. (OTC Pink:KGKG), a hemp lifestyle brand of exclusivity and status, is pleased to announce the Company has reduced its debt by twenty five thousand ($25,000.00), reducing the Company’s total liabilities to $75,468. Kona Gold’s management team negotiated with a debt holder to pay off its liabilities without issuing new shares. The Company is also in negotiations to reduce its total outstanding liabilities by an additional sixty thousand dollars ($60,000).
ROCKLEDGE, Fla., March 21, 2017 (GLOBE NEWSWIRE) -- Kona Gold Solutions, Inc. (OTC Pink:KGKG), a hemp lifestyle brand of exclusivity and status, is pleased to announce the Company has reduced its debt by forty eight thousand ($48,000), reducing the Company’s total liabilities to $100,468. Kona Gold’s management team negotiated with two debt holders to pay off its liabilities without issuing new shares. The Company is also in negotiations to reduce its total outstanding liabilities by an additional seventy thousand dollars ($70,000).
Kona Gold’s Management team felt it was imperative to implement a new growth strategy by decreasing the amount of total outstanding liabilities to increase shareholder value and position the Company for rapid growth. The Company decided to use the proceeds from the sale of Elev8 Hemp LLC to Elev8 Brands, Inc. (OTC.PK:VATE) to reduce a majority of its outstanding liabilities. The Company is set to use the additional proceeds from the sale of its subsidiary to pay legal consul to draft and submit a form S-1 as well as higher an auditing firm to complete a full audit of the company’s financial and inventory assets.