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What a move today!! Been in since the 50s. Have wanted to average down and was thinking about it this morning and now almost to 20% moved today
Merrill Edge needs 200 million market cap to margin
Have been tracking since the Feb high. My last foray here was from .85 to $1.85 area (can't remember).
123 said: "Its a bottoming development, looking to me, not finished yet, and more weeks of bouncing from this bottom zone, into the Resistance zone (5.50-5.65) and more plunging back down, like we're watching now, more of this to come. Traders looking for rallies might need even more patience these days."
I'm waiting for another opportunity to play the next pop. I'm in agreement with 123 - without any significant catalyst, SP could and very likely will drift lower. It's nice being on the sideline not anxious to buy in. Easier to be unbiased. GL to longs and shorts a like.
esad1:
These are bold claims. What evidence to you have for any of these claims? Sounds like this is all conjecture. I'm a LONG and just playing devil's advocate here.
brooklyn13:
You hit the nail on the head with this comment: " it was a habit of psychological associations!" Indeed!
This major factor is left out of the discussion around nicotine addiction all the time. One has to rewire the brain by creating new, healthier associations to replace the unhealthy ones. Cheers and Smooth Sailing ??????
Shortnlongs says: "3 cent flippers is what gives this volume and is moving this forward. Not people who bought a year ago or yesterday. Be thankful for those who are flipping as they are printing you long term profits. In the end the flipper will print 2x-3x-4x more profits than anyone here long. It takes all kinds in this world to make it spin so be thankful."
Brother, love that insight and you are so right. Many retail investors complain and dumb on flipper traders but they are essential as you say.
Cheers,
DANG!! Look ?? at that VOLUME. HOT DIGGIDY!
Yo, UMSC! What went wrong brother??
Keep at scottyb. Still not hitting your .75 mark. Only way it does that is with negative catalyst. Too much strong support here.
Love the chart. I'll take 1% day after day. Beautiful
USMC1981 - You're turning into another proverbial "boy who cried wolf." All you folks are so transparent. Either trying to manipulate the price lower with your inane bearish comments or frustrated at the slow pace and attach the management for it.
I continue to see ignorant (not necessarily saying that's you USMC1981) blame management over and over again for the lack of progress. Don't you love when they always bring up their compensation.
Success in the corporate world isn't black or white!!! It's an arduous journey filled with more failure than success.
scottyb
You're the boy who cried wolf too many times. Do you really think anyone believes you?
Also loving this unexpected on no news incremental move.
This work they are doing with Hemp is a long way from producing revenue in my opinion. Exciting work nevertheless.
This is the problem with people on social media and reading news, YOU DON'T CHECK TO SEE IF IT'S FAKE OR REAL!!!!
THIS IS FAKE NEWS!!!!!!
Love it! "Long Brothers!" Perfect description for some of us here.
This recent momo is looking like it has legs. If we see a break of .20, could very well see a retest of the 52 week high beginning in the new year.
I'm still holding out for .40 to .50 or more.
Cheers and smooth sailing through 2017.
I'm really curious to explore SRNA's competition. Any longs here who have done deeper DD who can share any data analysis of the competition? Yes, I understand that in the coming year or so, there will be significant growth in this particular canna sector so we should see a lot of competition entering or existing competition penetrating into the market further.
TIA
Would someone please explain the below post in a little more detail for those of us that do not understand the implications. Do insiders usually or always convert their options? Why would they not convert? What's the likely of them converting?
If they convert AND sales increase significantly, does that offset dilution?
Just learning here.
"If dilution is your concern, I suggest paying less attention to 25 November and the possible 550,000 shares which could be converted and more attention to the results of the 6 July Board action which granted the following options:
Michael Mona, Jr. - 6,000,000
Michael Mona, III - 4,000,000
Joseph Dowling - 1,000,000
Gary Sligar - 250,000
Larry Raskin - 200,000
The potential is a dilution of about 21% from the current number of shares outstanding. The exercise price is 36.8 cents, which is where I believe the current floor is established. Obviously, below that price, options for more than 11 million shares become basically worthless to management. Friday's close (48.0) was less than half of the 31 Oct intra-day high of 98.66 and 45.0 cents off the 93.0 cent close that day.
Under the terms of the option, it's already 25% vested for "top" management, so at least some portion will be exercised assuming the price appreciates. Such appreciation may largely be determined by management itself which to this point has done a mediocre at best job with both PR and IR.
If the folks posting their sells here are actually truthful, the capitulation is amazing. But I don't believe anything I read here unless it's coming from filings and the balance sheet.
I'm not interested in daily and weekly moves. Long and Strong. Let's see where we are next year. Dudes, give it time. Passage of the measures MEANS ABSOLUTELY NOTHING AT THIS POINT IN TIME.
It will take time for CVSI to get into these new markets. Cali means nothing IMO as CBD is already legal and we don't deal with anything other than CBD.
GLTA
Wow! Quite the sell off in this sector. No one should be surprised. Only the strong balance sheet companies will survive in the long run. Going to take awhile though. It's at least a year before California sets up regulatory infrastructure to sell pot legally. Still concerned about further raises here given multi-year drug studies are expensive.
A partnership would be sweet but probably unlikely at this point
Does anyone know who their competitors are and how much competition they face in the space?
NEED A PR!!!!
Where's that $3?? Way too much exuberance here and other MJ boards.
Always consider the downside. Buy the rumor, sell the news appears to be happening here.
That's not to say that long term share price won't be bullish.
Nothing wrong with playing this on the very long side as well as the swing and dayside. Very happy selling at $1.50 today and starting to scale back in. I just don't listen to that overly bullish hyperbole noise from all the perma bulls. Just my prerogative. I believe that will see some great training opportunities before and even after the election.
Thanks a mil mate. Daytime work often limits my DD. Appreciate the insights. I'll check out the 10Q
This is an oOTC stock. Nothing is certain with investing in stocks, especially OTC stocks. I'll take my profit along the way and keep swinging daytrading.
Was already tempted and sold at 1.50
Waiting for another entry lower
You're right, but AMMJ has 10x more EBITA.
Or SRNA is EBITA minus 1.4 million vs. AMMJ at -173,000 or thereabouts according to yahoo key stats
It was my understanding that AMMJ has way more revenues. What do you have? I'll have to go do a comparison later
Major volume to the downside. Phew! Let's see if there's any recovery by EOD
Beginning to look like this run is over. Continued profit taking on fear of further downside.
I'm also right at the edge of selling. It's called a snowball effect. SRNA doesn't have as good a balance sheet as the likes of CVSI AND AMMJ which I also own
Ah, yes, you're right. I totally forgot about this as a huge part of their business. Jeez! Been reading and following too many MJ stocks.
THANKS FOR THE CORRECTION. Still, even though the help with this process, real, fundamental growth will still be relatively slow across this sector, IMO
It definitely looks like the Election Hype combined with meteoric rises of many MJ stocks has stopped. Maybe we get another bump over $1 as we approach the election, but I wouldn't hang my hat on that hook. We can very well trade lower into the election with many taking profits 0n buy the rumor, sell the news thesis.
Don't get me wrong as I'm very long this and CVSI. But I'm not filled with Hopium and very realistic as to the slow process these companies will engage in with all the regulatory BS they have to deal with in each State before making increasing Sales.
Agreed Rain. However, there are a lot of regulations to navigate in each state which means it will take quite a bit of time to continue the growth into new markets. I'm totally bullish and see the strong fundamental Signals, but there's just to much Noise on this and other boards: "Going to the Moon!" "This is the week - over a $1" blah blah blah. Man, just too much Hopium and emotional attachments. If you're a LONG, better to totally forget about the MMs machinations and intraday or intraweek swings. Just my 2cents which means nothing.
None of us know where the SP will be tomorrow, next week, next month or next year.
I'm still surprised that we and AMMJ haven't continued the climb Over $1.
Look at CNAB? Jeez! Is it all manipulation combined with short term traders?
Excellent insights into the explosion that's about to occur in the MJ sector.
Marijuana Entrepreneur: When a Market Doesn’t Exist, Create Your Own
http://fortune.com/2016/02/23/marijuana-market-adam-bierman/
Thank you Sir! One of the greatest challenges for any company this size is dilution/debt in order to grow. The majority end in true penny land due to heaps of dilution. We'll see how the new CEO is able to organically grow the company without more dilution.
Yes, the Bull Market in MJ is certainly helping
Scooby:
I'm confused by your reply. I know you're very bullish, but why did you say their biggest problem is more debt . . . " Can you explain your message?
Really. What's it going to take to break out and over .30? Dang! What keeps this one moving with the rest of them? Is it the higher debt and lack of growth? CVSI and AMMJ are kickin' butt, but they are solid companies with tremendous growth.
Thanks for all the great DD Ash. Say, I haven't seen you mention AMMJ which also looks like a solid company with tremendous growth potential. Did you use AMMJ in your analysis comparisons?
TIA