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Looking solid here. I figured it might have a hard time holding $2 with the up action to date and selling going into the weekend. But we are on track to exceed yesterday's volume (already 62,000+) and sitting nicely at $2.10. Good chance of a $2.25+ close...very thin to $3.
If it holds $2 tomorrow and then news over the weekend, look out next week! Maybe $3.
If it tests 2017 high of 0.033 with 800 million O/S then, using 8 million O/S now to keep the math simple, that would be $3.30.
But consider what we have now that we didn't have at the time of that 2017 high:
*Multiple products/new products
*The Hooters deal and possibly others in the pipeline
*CBD prospects that are looking more real
*Share structure cleaned up
*Debt has been addressed
Maybe some things I've missed.
Based on the above, $5 just on pure speculation (no reported earnings) seems likely. And IMO, once earnings come, $10+.
A PR on the ownership consolidation and CBD in the next week or 2 would really propel this thing, maybe right to $3 or even $5. Not thinking the 2018 or 2019 1st quarter earnings reports are going to affect it much. 2019 3rd and 4th quarter, different story. $ICNB
You might be right...if it is primarily traders that are driving the move.
Sounds good to me!
Tomorrow should be very interesting...consolidation, or more upside? Second consecutive 100,000 share volume day, not bad considering thin number of O/S.
And now very thin to $3! That 26K on the bid at $1.88 is ancient history.
Blew past the $2.07 and very thin to the $2.20!
Level 2 Ask $2.07, $2.12, and $2.20 printing...and 5000 Bid at $2.00, looking good!
Good find Captain, she is a marketing marvel, no?
Now Whip, didn't you say a couple messages ago you were going to be nice and stop for today ;)
$250,000-$300,000.
Already known and no impact on the share price if as expected (a few hundred thousand in sales), which is rising based on current news and future speculation about what it might mean for the company, not on the past IMO.
If expectations exceeded, will accelerate the ongoing rise of the share price IMO.
This is showing strong upward movement on modest volume. Any additional news, such as ownership consolidation, signing of the agreement with the farm, or specific CBD products, and volume and share price will skyrocket IMO.
I'll go out on a limb and predict at least a 50/50 chance we get such news in the next 6-8 weeks.
Predictions about the share price going to $5 by the end of May are looking more and more plausible...as well as predictions for $10-20+ by the end of the year.
Excellent point on the DD Trading...people should look into CB's business ventures and reputation...realize we are talking about a very successful entrepreneur here...to the tune of $139 million.
With a good chance to go quite a bit higher than that!
$50/share buyout possible if CB previously stated goal of $1B buyout realized with 20 million shares O/S after ownership consolidation. With the following caveats:
1) Realization of sales projections
2) Previous buyout goal did not appear to consider/include CBD, which could increase it to $2-3B IMO (and that would again be with commensurate sales projections realized)
Long and strong here. My shares promise to be VERY EXPENSIVE.
More free advertising for the brand, great find Captain! Maybe today's move at the end is the start of something big.
Move at the end of the day hard to understand, suggests very thin liquidity. Could mean that on any news over the weekend or Monday this could pop on decent volume.
Yes indeed, a very nice close...held onto all of last week's gains and tacked on some more. With news a shot at $2.00 next week IMO.
More free advertising by CB...great stuff. Closed at $1.48-1.49 last week, how much higher will it close this week?
Entrepreneurship often involves multiple failures. In fact, the number of failures often exceeds successes except for the very fortunate few. But, all it takes is one big success to make a home run. And what is on the table right now far exceeds what we had 2 years ago IMO.
This is a good point...Rich has to prove it will be different this time.
That having been said, there are some great ideas out there, considerable speculative interest, and the potential for a real home run.
NASDAQ and NYSE both possible, that is, unless the BUYOUT happens first! $ICNB
Yes, the full ownership transfer, plus the signing of the agreement with the Farm, will be big as it will give us a better idea of O/S...important to know in order to calculate per share value of a BUYOUT!
I am going to stick with my prediction of 20 million O/S maximum...anything less would be a positive!
Absolutely...speculative interest is very high due to all the positive developments with the company. All potential price point still in play...$3, $5, $10, $20++! $ICNB
Maybe some shorting going on...very possible with low O/S...might accelerate the share price INCREASE even faster when they have to cover their NAKEDNESS!
Already said but worth repeating...those Post-Its (except the top one) are way out of date and out of touch!
Ah yes, the Hooters connection...documented! Along with new product announcement, gives us a shot at $2.00-$2.50 this week and much, much more beyond that! Great photo!
Great photos Cat, is that some new product showing?
To those who really think it's that bad, then short it and see what happens to your bank account!
Based on reaction of share price, this was already baked in...investors likely thinking it would double or more and what actually happened was a pleasant surprise.
I had predicted 20 million O/S after the ownership transfer and the farm...looks like it might be close to that and am thinking that (20 million O/S or something close) is also already baked in, with anything less constituting another pleasant surprise.
IMO very positive. This is going to $5-10 based on speculation alone. With a CBD product and sales, $20+
A cbd infused beverage would be fantastic! Holding nicely here with a chance for another late day surge. $ICNB
Point well taken, but if you wait for the facts, you miss the big moves. That's why it's called speculation.
100,000, 500,000, and perhaps even 1 million share volume days coming soon. CBD is very hot, $16 billion in total sales nationwide by 2025! What percentage of that will be ICNB?
http://fortune.com/2019/02/25/cbd-cannabinoids-market
Speculative interest in the company is increasing!
$ICNB
Speculation alone on this will take it to $5 by the end of May IMO. If revenues follow todays news release, $10+++ could happen!
OK, I concur if there are no profits. But if sales go up to a billion (or even $100 million), IMO investors are not going to wait 2 years to use the P/E. Because at that point profits are going to be quite significant as previously described.
Good discussion!
Thanks for taking the time to provide such a thorough response!
I am going to differ with you in one respect.
If sales grow to $1 billion (admittedly an unlikely scenario), I feel the share price will considerably exceed $100/share, not $10/share, based on:
*20 million shares outstanding (more than triple current levels to address ownership transfer, preferred shares, and farm and other purchases)
*$300 million in net profit (assuming 30% profit margin source:
https://professionaldrinking.com/how-does-the-wine-distribution-system-work/) or $15/share earnings
*Industry PE average of 17 (source: https://simplywall.st/stocks/gb/consumer-retailing/aim-wine/majestic-wine-shares/news/is-majestic-wine-plc-lonwine-attractive-at-its-current-pe-ratio/) but I am going to say with the cannabis element plus explosive sales growth to $1 billion (and it would indeed be explosive from current levels) a PE of 25 is more likely and that would give us 25 x $15/share = a stock price of $375...so actually, to get to $100, we'd need sales of $267 million rather than $1 billion
We can see even with even much lower and perhaps more plausible sales growth, the share price would increase quite a bit over current levels. The key words are "with sales growth" and I am admittedly an optimist in this area. IMO with all the ideas/initiatives out there sales could be $100 million in 3 years, which with 20 million O/S, a profit margin of 30% ($30 million or $1.50/share), and keeping the PE of 25, this would get us to a share price of $37.50.
"May your Bellissima Dreams Come True"!
I will predict a tripling from current O/S for the ownership transfer; Preferred D's; and farm purchase. So, about 18-20 million O/S. Do you think this is already baked in?
Unfortunately they will be back. If revenue streams are realized, shorting could accelerate ICNB to amazing heights. $ICNB