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Yes it bottomed out yesterday, I think it's gonna be climbing then eventually gonna have a nice 50-80% rally in a day. Might double bounce off low's under .03 but I don't think so. Hopefully it'll jump within a week or 2.
Most likely the bottom was hit today, .0237 if I remember correctly. Can spike over .04 very quickly, won't even take that many shares to do it, just need a few buyers, volume is already good enough.
I think volatility is increasing for OWC as February, updates and the conference get closer because anticipation of updates is coming. But until it's out I think there's a low chance of sustained gains, but the bases for the uptrend should hold.
This stock is bottomed out. It will fly (double or triple current pps) within days. Consistent large spread of up to 20%, and low volume. All that is needed is some buyers and it'll get pushed quick, just a couple million volume and we see 30-50% up, large volume will push to .07, attracting more buyers for continued rally. There's not many stocks in the mj sector like this one, that are bottomed out and haven't run already. Look at CLSH and GRWC, companies that have issues, and look how much they ran just because they were bottomed out and not hyped up?
Yes but the video released said it was planned to sell in January.
IMO the whole reason SGMD is still up so high is because of the MJ sector, because of BudLife. Why haven't we heard anything about BudLife sales which were supposed to start at the beginning of the month? Why aren't investors talking about it on this board? Where can we buy it and when? I want to hear that it's selling like crazy like the Sri Racha stix, exceeding sales expectations, which no doubt it should be if it has been selling this month.
Maxed out my shares at .20. Really enjoying this ride. SGMD is such a great choice to invest right now even with the uncertainties, if all is well this company is choice because they can make massive profits in the cannabis sector without ever having to worry about the federal government. Just unfortunate it goes down with the sector in general but those sub .20 prices were a gift.
Everyone needs to understand that the entire sector has been tanking almost every day, and not really any stocks in the MJ sector have resisted the selling including SGMD. I follow about 100 MJ stocks and there are very few that have gone up in PPS over the past week, ones that don't make any sense for going up actually.
My point is, don't start thinking about all the reasons why the pps is coming down, it really has very little to do with the late filings and lack of news on budlife sales, although those factors are definitely contributing to the size and volume of sell orders no doubt.
Because of the excessive price drop on SGMD mostly due to the sector, it will absolutely fly on good news, and I think most people know that so it's very possible the pps won't go much lower although I'm counting on continued dip to buy more.
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Just as OWCP went up with the sector, it came down with it on Jan 4. The sector has been tanking pretty much every day this week, and OWCP's pps has only been coming down a little. To me that is a very positive indicator for going back up. It should have broken below .40 by now, but there's just doesn't seem to be enough sellers to push it down. I think we are very likely to close green today or at least above .44, and we should see .50's next week if the sector is up or we get an 8k about the new director.
Farmer I always read your posts because they can be informative and positive, but your misspelling of the word "their" is driving me nuts.
there - referring to a place/ location
their - belonging to
they're - they are
Sorry
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There's only selling because there's a lot of selling in the sector today. I noticed it starting to happen only 20-30 minutes after open, and SGMD following suit. The day started off with more buying than selling like the last couple days, but now selling has just about caught up and will probably exceed the buying going into lunch. Hoping SGMD holds yesterday's support at .25, and hoping the sector sees a lot of buying tomorrow after today's mild pullback.
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Looks like the base just might hold through the day. A close over .30 means mid to high .30's tomorrow most likely.
Come on news, come on financials!!!
Most likely the force that pushed it today is the same force that is pushing all stocks in the sector - buying volume and enthusiasm for cannabis-related products and companies with potential. If this is true, it will continue up with the rest, MM's will make it dip but it'll keep going up. I just hope the manipulation to keep the price low isn't stronger than all the new bulls out there.
x100xPerent
That's not why it's moving, sorry to say. Fundamentals haven't changed, what has changed is how attractive the chart looks in comparison to other stocks in the MJ sector. It's moving because it's catching up to others huge gains. The 2 year chart shows it has a lot of room for growth. As other MJ stocks' pps's rise, OWCP's low price and chart look all that more beautiful. Once some of these MJ stocks start to dip, people will probably put their money in OWCP and others with potential that haven't moved big time yet.
You should hope I'm right, because this means it will keep rising this week, probably over $1.00 just because of the way the 2 year chart looks by comparison, and the amount of buyers out there right now. If what is obvious to me is true, it will move higher just because of the volume, then with timely news it could go from 1.00 - 1.50 (or w/e the price is when news is out) to $4 or $5 + depending on the news (+200-300% or more).
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As other companies in the sector are witnessing their share prices fly through the roof, buyers see OWCP's low price as just that much more attractive by comparison. It's moving with the sector, slowly lagging behind but it's going there. It's my belief that this turtle is going to ultimately win the race over these rabbits in months or years time. Then investors and will be comparing other stocks to OWCP just how we always compare to companies like GWPH.
But for now, it's all about quick gains and the price should keep climbing until the sector takes a dip. Hopefully that won't be till February when fundamentals will be the force that pushes OWCP.
I don't think support levels under .70 will keep the price down, the bull market is too big already and everyone knows OWCP has things in store for the company in January. The price is too low for this market, that's why it's still going up and will be over .50 shortly.
OWCP is still lagging behind on gains compared to many other MJ stocks that have gone up big time and have very little going on for them. Seems OWCP's price is likely being manipulated or held down. For some reason stocks that have no hype or speculation behind them go up the most, hundreds of percentages. Really wish stocks like OWCP that actually make sense would move like that.
I would really like to see SGMD tank down to .10 or so, as it should under normal circumstances but the best things about this company haven't even happened yet (financials and budlife sales). The sector is up big time on a daily basis. I have been following about 100 stocks since January, and right now SGMD is my top pick for the short term. But I hope you have luck with your other investments or that you can buy back some shares if SGMD goes down before it goes up.
Very bad time to get out of this stock, you need a lot of luck to be able back in under .15 after the new year.
The cannabis sector is up BIG TIME so far today. A lot of enthusiastic buying in the sector. OWCP should be going to .43-.45 at least.
Federal medical cannabis protections temporarily extended
https://mjbizdaily.com/federal-medical-cannabis-protections-extended/
With things like this happening because if uncertainties and risks associated with cannabis sales that are only legal by state law, is another reason that more investors will invest in Sugarmade. Budlife is federally legal. We are definitely in for a ride, this is a no brainer and people will continue to accumulate shares. I'm holding until I feel the pps is overbought (.60+). The pps going up even with grossly delayed financials is definitely a sign that its going up after financials.
I see your point now, I think I just have too much confidence in this company becoming huge from budlife revenues. I think it's an excellent candidate for becoming over hyped, if it's soon worth .40-.50 pps, it could easily go well beyond that with massive volume and hype. Then of course reality will set in as always, at which point I plan to be out at least 75%.
This is assuming all is good with company financials and being current with otc, ood course
Yea but financials and revenue forecasts are completely different. Also revenue forecasts don't require anything, and are not required.
Why would you doubt revenue forecasts would be announced any later than February? They can PR that info whenever they want, but probably won't be until they see how their sales are doing a couple weeks after budlife sales start for a somewhat accurate estimate.
I really hope it dips down lower.
Yes I think the chances of that are much higher than today and after market open on next trading day.
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That's the pessimistic way of looking at it given that none of us know what is going on, but you have to consider these financials must be accurate and they are being audited by several parties and there may be many factors that are entirely out of Jimmy's control, such as waiting on other people. Yes, incompetence and all that but I believe all the incompetence was in the past, things he should have done or done differently, all in the past. Odds are he's doing everything he can at THIS point in time, and all that really matters is what happens now and in the future.
I doubt the filing will be delayed till January, I'm betting he gets it out by end of year, I'm sure he'd like to get it out today for his shareholders or definitely by end of year unless it's simply just not possible. Either way I believe Jimmy Chan has the best intentions and doing his best, I'd also bet he's working as hard as he can to get things done even with Christmas here.
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Once you initiate the transfer of $ from your bank to your E-trade account, you can instantly buy shares with it.
You mean 2017 was a total mess for long investors. Not the company. The company has stated multiple times in the past of the uncertainties of everything and that things take time, and I'm sure they expect only a few things to get done in 2018, because again, things take time especially for a new drug that's illegal in many countries and in the US.
From what I see, watching over 100 cannabis stocks and closely monitoring the average index growth over the past months, and analyzing the growth of other stocks in the sector that have bottomed out and bounced, I can safely say it's a fact that it's statistically probable that OWCP will head upwards from the 30's. If it dips quick to low 30's, it's gonna bounce and get up to .40 fast and then move up. The pps is too low for the sector by comparison, I think the only reason it went under .40 is the discontent for the management's silence and uncertainty of why. Once things become more clear, even if it's a simple 8k, announcement or whatever, the price will head to the .50's pretty fast. But statistically, it will head up as the end of year gets closer (closer to Jan. 1).
I repeat, it is STATISTICALLY PROBABLE, I'd estimate about 70-80% chance it moves up from the mid 30's, 20-30 % chance it hits low 30's first (without any news).
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I'm surprised the pps hasn't pulled back to .12 - .13 ... why is there hardly any selling? Where's the dilution? Come on I'm flipping half my shares and need fills at lower prices!
Hi. I keep seeing people talk about Kush, are you referring to KSHB, because Kush isn't a valid ticker. Thanks.
California legalization should create a sector-wide rally of some sort, hopefully huge, and no doubt OWCP will be a part of that rally. And when company news is announced it's likely to gain as much as any other top-gaining weed stocks, so it'll be worth holding even with price volatility over the holidays.
This slow movement upward tells me it's most likely going higher, at any minute or by EOD tomorrow it's going higher than .l3
I see, but still that brings up another question, is the company waiting on their own CEO and CFO? I don't think so. That response is representing the entire company, just as Jimmy Chan would represent it and not just himself.
I hope you're right but it seems like there are more parties involved in signing because he said "we are just waiting for final signoff". Off in quotes because a sign-off could simply mean acceptance in writing by another party, maybe CEO/CFO of another entity or an attorney, not necessarily a signature for the 10q filing. I just hope it's today or before Monday open.
Ok, who knows which person that works for which entity must do the final signature for a 10q? Even better, where is this company or person located in relation to SGMD (City of Industry)? Are we waiting for snail mail, a round trip flight, a local drive without any traffic, or actual approval and electronic signature which may not happen? Or is this signature after approval and a for sure thing?
If nobody knows, we will just have to be more patient and hope for end of day.
Of course this is all assuming Meat is not FOS which I doubt you are, FYI.
The big boss says no, no news yet until next year, so just cower and obey because he knows what's best and he will take care of us because we know nothing.