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Dad talked to Schwab this morning and they told him that the reason folks have to call in to trade Charlotte's Web is due to "volatility".
It's kinda BS because this stock actually has much less day-to-day variation than almost every other pot stock we've traded to date...it's one of the first things that struck me when I looked at its price chart. But the one thing I've noticed on the candlestick charts is that there were often days in the past when the wicks or shadows shot way the hell above the candlestick's main body. As a result the Average True Range (ATR) is quite high for CW even though the main candlestick bodies are very well-behaved compared to most MJ stocks.
Does anybody know what causes these anomalies to appear? As an example, on October 19th CW opened at $13.56, closed at $12.83, had an intraday low of $12.75 but had an intraday high of a whopping $20.76...which just so happens to still be listed as this stock's all-time high since it started trading back on September 12th.
https://www.marketwatch.com/investing/stock/cwbhf
I find it really hard to believe that many if any shares were actually traded at that level but I suppose it's possible. These super long wicks mostly appeared during the time that the pot sector was crashing from mid to late October and seems to have mostly gone away since around early November, so the ATR which is a measure of volatility has been steadily decreasing ever since then.
The really weird thing is that these long wicks only appear on the daily, weekly and monthly charts. When I looked at all the various minute or hourly charts I'll be damned if I could see any long wicks at all for these time periods. Sorry if I'm being so anal about this...I spent my professional career as a test engineer and I guess it's just driving me a little nuts and was hoping that if there was somebody out there who owns this stock and is also heavy into technical analysis they might be able to take a quick look at it and see if they can help me figure out what the hell is going on. For reference I am using tradingview's free version for charting.
Anyway, that is why Schwab won't allow their customers to trade this stock online...apparently they must have some volatility trigger built into their software and if a stock's ATR or some other volatility number exceeds this limit they then flag it so we can't trade it on our puters and have to call in our orders. Perhaps if the ATR continues to drop it will eventually get unflagged and we can start trading it online again.
I lived in Oceanside during the 1990s when I worked at TRW's Capistrano Test Site in San Clemente. I liked SD a helluva lot more than I did living in LA. By far the best weather of all the places I've ever resided...nowhere else was even close.
Maybe if Congress passes the Farm Bill in the next week or two that will help the sector some? Assuming we can get the Twitterer-in-Chief to put down his phone for a minute and pick up a pen to sign the damn thing.
https://money.cnn.com/data/premarket/
A little worse now but we've all seen some pretty big swings lately so who knows?
https://www.tradingview.com/chart/DJI/6slJniZF-DJI-DOW-JONES-DOUBLE-TOPS-ADAM-ADAM/
DJIA still about 1000 points above the critical low back in April...but the market lost that much in just 2 days not long ago. We're mostly cash right now.
Okie dokie, truce...no more flaming then. If you guys clean up on Aphria then awesome...more power to ya.
The Steelers secondary is so bad...I don't think Pittsburgh is going to the playoffs this year. That has me bumming out a whole lot more than a few lost bucks on Aphria.
PS Boswell sucks too...better get another FG kicker along with some cornerbacks.
Good luck, John. Too risky for me but if you're right you could do very well. MJ sector been in a pretty dismal downtrend for quite some time and could certainly use a jumpstart. If Aphria getting past this scandal ends up being the spark that help sets off a new bullish run that would suit me just fine. The Cronos-Altria deal sure didn't do as much as the Canopy-Constellation news did back in August but it's only been a day so maybe it will also be a catalyst going forward.
I got bigger problems right now...this Steelers game I got streaming is buffering like crazy and it's really pissing me off...LOL.
LMAO...I could care less what Aphria does going forward...other than how it might impact all our other MJ stocks. I've had many very profitable swing trades and had some losers too...once they're closed I don't dwell on whether I left some profits on the table or coulda lost a little less. A person obsesses over completed trades like that and he'll end up as totally bonkers as many of the folks on this thread appear to be.
You have no idea what Left is up to right now...you just love him to death at the moment because you think he's throwing you a lifeline. Let's see what you think of him if he should cause one of your other stocks to drop 30% one day. He'll go from saint to scum in your eyes faster than you can blink them, I'll wager.
If Aphria skyrockets then fine by me...it will very likely pull some of the other stocks we're now in upward as well. The sector can use all the help it can get at the moment. If you guys make a ton of money from an explosive move upward then great...you took on considerable risk and should get paid off if you're right. But if you're wrong you will very likely pay a heavy price.
Funny how the market works that way, ain't it?
Since you believe everything you read on reddit, here ya go...
https://www.reddit.com/r/TheCannalysts/comments/84g86n/the_uncloaking_of_aph_international/
DeFrancesco...a modern-day Dracula who sucks the capital outta all his companies.
My Steelers losing to the lowly Raiders...WTF??? Big Ben letting me down bigtime. Maybe they shoulda given Bell the money after all.
Greasy Grego's Report no longer has any credibility. It has been debunked
Ah, yes...all the great reporting by anonymous posters on reddit. Much more credible than a guy who stands in public in front of the entire world and commits fraud for all to see. The lawsuit against him should be a slamdunk with such damning video evidence so readily available. Guess Grego just didn't think that one through before he got up to give his presentation.
You should not have fallen for the words of a Short Seller and panicked and sold your Aphria shares
I did not panic...I simply decided it was not worth the risk given the breaking news and the way the stock was reacting. If I was prone to panic I woulda sold the shares much sooner than last Monday as they were already down significantly from when we established the open position on this swing trade in the first place. I was just already sick of holding onto a losing trade and watching it plummet even further was just throwing good money after bad. If you never sell a loser either you must own a lot of stocks by now or you only own Aphria.
Defrancesco is not an insider of Aphria - he's not an officer or a director of the company.
LOL...guess they didn't tell you on reddit that the guy basically founded the company, huh? Yep, he's moved on now and has nothing whatsoever to do with Aphria any longer. Well, except for all them sweetheart deals that Vic keeps shoveling his way.
and why are you on this forum if you don't hold any Aphria shares?
Because whenever I have a losing trade I like to review what happened and try to figure out what I did wrong and maybe learn from my mistakes so I don't repeat them. Usually it only take a few minutes and then I'm done and quickly move on. But this one is not as simple as just a missed earnings report or a misread TA chart on my part...potential fraud is a much bigger issue that could hurt the entire sector if it turns out to be true. I am very interested in the outcome because if the allegations are accurate it could affect all our other open positions. I'm quite certain that there many people here who are not currently long on Aphria because they share similar concerns about how this might impact their other pot stocks.
I will reiterate one more time what I have already said more than once...IMO, some/many of the allegations have potential merit but I hope for the sake of the fledgling industry that Vic & Gang satisfactorily respond and reestablish confidence in both Aphria and the entire MJ sector. And if they can't I hope they all wind up in prison.
Gonna go watch the Steelers play now...adios.
How many lawsuits have been brought against Grego and QCM to date? How many "hit jobs" have they done that didn't turn out to be successful and valid? How many of their prior targets are no longer listed or being traded? Who is the one "jumping the gun" right now thinking their allegations have no merit before the company has even responded in earnest?
We bailed early Monday morning, and as of right that still looks like the wise choice. It looks like an even wiser decision given where Liberty is at the moment. This may change in the future or it might not. Some of us are not as good at predicting the future as you apparently are.
I will have go back and reread the forum guidelines...apparently I missed the part that states you have to be a lifelong long to make any comments or express your opinions on these stock boards.
We didn't lose much at all. We've successfully swing traded Aphria before along with many other pot stocks but typically mostly do fairly small positions for the express purpose of limiting exposure. We're doing it mostly for the fun and challenge of it and if we lost every dime of the speculation money we've set aside for this it wouldn't change our lifestyle one iota. I feel sorry for folks who had a big chunk of change on this company and just got burned...whether it was due to outright manipulation or genuine fraud on Aphria's part remains to be seen in my mind. If it turns out to be the former then they should be just fine in the long run and if turns out to be the latter, well, that's the chance we all take every time we click on the BUY button.
Best of luck to you, as well.
To be perfectly honest, I'm pretty disgusted by this entire Aphria Affair. Maybe I'm naive, but I value truth above all else and what I have seen on this board and elsewhere is about as far from it as one can get.
"Fake news" is ruining our politics and it looks like our economics is not very far behind. I just want to know what the reality is but it's a total waste of time trying to get a handle on it from reading this board.
I am content to wait and see what Vic and Aphria come up with by mid-week...they claim they will issue a "line-by-line" response to QCM's allegations on Wednesday, I believe. I am skeptical to say the least but will give them a shot to defend their side of the story. I have little doubt that regulators and investigators are now at work behind the scenes looking into this entire sordid scandal and if they find something truly fraudulent we will all find out about it soon enough. If so, the numerous class-action lawsuits will proceed to the courts and juries will decide the outcome and whether or not Aphria will survive may hang in the balance. And if not, this incident will subside and Aphria will rebound and life will go on until the next Wall Street scandal hits and we go through this crap all over again.
All I know for sure is one thing...I just spent a good chunk of this last week doing a deep dive on this DeFrancesco dude...and I want nothing whatsoever to do with any company that DeFCon 5 is even remotely associated with.
Yes, Left has a huge following...which allows him to manipulate a stock...just like Aphria longs who got burned by Grego are claiming QCM just did. My question is...why is this acceptable in some cases but not in others? It seems to depend on whether you wind up on the profitable side or the losing side of one of his plays. That's all I was trying to point out...the world-class hypocrisy of it all.
I have no idea what Aphria's share price is gonna do in the near-term. And you have no idea what Left's true target price is, whatever he claims. Just don't be too surprised if/when Aphria does get there Citron will dump it and suddenly issue a new release that they rethought the whole matter and now agree that QCM and Hindenburg were right all along.
Watching Aphria longs cite Citron's recent positive comment about the company just pegged the needle on the Hypocrisy Meter. When Citron bashes Cronos or CVSI then folks say Left is just another scum-sucking shorty who's doing a hit-job on yet another stock so that he can make money by ripping off innocent if not gullible shareholders. Yet when Citron says something nice about their stock these very same Aphria fanboys suddenly think Left is a world-class stock analyst with impeccable credentials.
Apparently people here despise smear-and-dump tactics (I'm not a huge fan of the practice myself) but pump-and-dump is just AOK in their books...as long as they themselves can profit from it, that is. One thing's for sure...ain't nobody here gonna get any consistency-in-logic awards any time soon.
Likely one of two things going on here with Citron...either they went long on Aphria when it was down in the high $3s or low $4s and Left is hoping to amplify the dead cat bounce so that he can dump it for a quick buck. Or Citron's hoping to pump the share price back up so that THEY themselves can then short the crap outta it and make a quick buck. After all, can't let Grego and QCM have all the fun and profits, right???
Either way, you can be pretty damn sure Left is looking to make a nice little quick gainer here one way or the other...that's just how the dude operates. Hell, that's pretty much how EVERYBODY operates, from the looks of things.
I loathe liars...but I absolutely hate hypocrites.
Agreed. But earnings are revenues - expenditures and you can't focus on just one and totally ignore the other. Many US potters had terrific revenue growth but spent even more. And as a result they got hammered. MedMen looks totally outta control.
You and I both know many companies like Origin House are probably doing what they need to in order to ensure a rosy future. But it doesn't really matter what you or I think...it matters what the market thinks. And often the market only thinks short-term.
I'd rather be wrong and be up 25% in a week than be right and lose 25%.
I saw that earlier today. Reading some of the posts on the APHA board made by the diehard Aphria fanboys makes me laugh. When Citron bashes Cronos or CV Sciences then Left is just another scum-sucking shorty looking to make a quick profit at the expense of the shareholders. But when Citron says something nice about Aphria all of a sudden Left is a world-class stock analyst with impeccable credentials...LOL. Nobody on the Aphria board is gonna win any consistency-in-logic awards any time soon...that's for sure.
More likely one of two things for Citron's sudden "support"...
1) They went long at around $4 and are hoping to amplify the dead cat bounce so they can then dump for a quick buck, or
2) They want to pump the stock back up so that Citron can then short the hell out of it themselves and make a quick buck. After all, no sense letting Grego have all the fun and profits!
Either way, Citron & Left are always looking to make a quick buck...they don't care which side they do it on and they certainly don't care about the average investor. Aphria longs grasping at straws as they sink.
#1 ETFs track action, they don't cause it...so no
#2 Aphria likely headed lower not higher...so no
#3 Cronos deal met with tepid response reflecting a negative post-legal sentiment...so no
#4 Broader markets very weak and will likely continue downtrend with political turmoil in DC among many other national/global problems...so yes
I'll say MJ & HMMJ wind up ~5% lower by end of week. Maybe near bottom but not there yet and may be a while. Disappointing recent earnings and looming fraud scandals continue to weigh down any rebound.
If forced to pick a potential catalyst to make above assessment null & void here ya go, matey...
https://www.cnbc.com/2018/12/07/final-farm-bill-with-hemp-legalization-could-be-voted-on-next-week.html
This I could see causing some investor interest resulting in a bit of a jumpstart...especially in CBD with some carry-over to THC.
Yeah, I'm real familiar with short sellers like Citron & QCM/Hindenburg and know how they operate and why they do what they do. It sure sucks when you're sitting on a stock that becomes one of their targets but OTOH it can be a blessing in disguise. If it's a pure manipulation play on their part then they create a buying opportunity that will pay off handsomely in the longer run. Thing is about QCM/Hindenburg is that there can be no dispute that sometimes their findings are so devastatingly valid that there is no ensuing recovery...several of their targets ended up DOA and rightfully so.
Sounds like you and mc have done your homework and have decided that in CVSI's case it is the former and not the latter so if you guys are correct you likely got no worries over the long haul. I hope that is the case because every time a story like this proves to be legit it's a ding on the entire sector that already has enough challenges as it is.
Wasn't really looking at Isodiol as a serious CBD investment...it's just that while deep diving on DeFrancesco this week I came across the name a few days ago. I went way back on this guy...back to around 2010 when he first showed up and began raising capital for some of his early energy companies like APO and P1 Energy. If you look hard enough you can find mention of companies he has been involved in either directly creating himself or at least becomes associated with and when you check out their price charts you'll see that time and time and time and time and time again they all end up looking just like Isodiol. And trust me when I say I left out a few "times" in that last sentence because I was starting to become repetitive...LOL.
As far as I can tell this DeFrancesco dude is a modern-day Dracula...he'll suck the life-blood out of a company and leave their investors dry and shriveled. Not saying that will happen to Aphria...only that if fraud can make an Enron or a WorldCom or a Tyco or a (insert favorite scam company here that is now defunct) it can sure as hell happen to Aphria. IMO, folks are greatly underestimating the possibility that could very well happen in this case. But that is just my opinion, obviously...folks are free to vote with their money.
Gotta say, feels a little refreshing to own a little stock in a company like Charlotte's Web that is actually making real money and isn't a shortie target and doesn't have a line of lawsuit lawyers pounding on their front door...LOL. Knock on wood!
You may very well be right, mc...and if you are long CVSI then for your financial sake I hope that you are. I freely admit that I have only just begun to look into them a little so I could easily be off base here.
But there is more than one lawsuit against them...this one here just appears to be the latest one...
Robbins Arroyo LLP: CV Sciences, Inc. (CVSI) Misled Shareholders According to a Recently Filed Lawsuit
https://www.businesswire.com/news/home/20181204006186/en/Robbins-Arroyo-LLP-CV-Sciences-CVSI-Misled
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
$1 billion buckaroos is a nice chunk of change, so obviously these "frivolous" lawsuits don't always turn out to be nothing burgers. These fraud cops/ambulance chasers (take your pick) typically don't like to waste their time on cases that have little or no chance of paying off.
These class-action lawsuits are often much more than just a minor nuisance to companies...they can drain precious corporate resources, distract management from making crucial business decisions and seriously harm shareholder confidence and thus stock price.
There are many THC and CBD companies out there that offer their shareholders a potentially nice return on their investment...I don't see the need to gamble on ones that are in potentially hot legal water when there are more than a few of them that aren't.
But that's just me...your mileage may vary, however...so best of luck to you.
I just so happened to still have a tradingview chart of CVSI open from last night and I see that on June 1 the stock popped nicely on the news you spoke of...
https://globenewswire.com/news-release/2018/06/01/1515539/0/en/CV-Sciences-Inc-Settles-SEC-Matter.html
Up about 15% on that day alone and went on to damn near double over the next 4 days before falling back. Sure is nice when you get lucky like that...caught a few fortunate timing breaks myself over the last 3 months. It's often better to be lucky than good.
Dark clouds really bother me and a little preliminary DD on CVSI seems to indicate that it is not yet all blue skies for CW's main competitor...
https://www.prnewswire.com/news-releases/cvsi-alert-rosen-law-firm-announces-filing-of-securities-class-action-lawsuit-against-cv-sciences-inc-important-oct-23-deadline--cvsi-300734652.html
Think maybe I'll steer clear of CVSI for now and let all my CBD chips ride on Charlotte's Web for the time being.
Speaking of dark clouds if I REALLY wanted to gamble on CBD I'd bet a little on Isodiol because I just found out only recently that the human thunderstorm DeFrancesco has got his grubby little corrupt mitts involved with them as well...
https://globenewswire.com/news-release/2018/05/07/1497481/0/en/Scythian-Biosciences-Announces-Licensing-Agreement-With-Isodiol-International-Inc.html
Thanks to the ongoing Aphria Affair the very first piece of DD I do nowadays is to check and see if that crook has any remote association with a company that I am thinking about...LOL.
https://www.marketwatch.com/investing/stock/isolf
Click on YTD or All to see the price history for Isodiol...that is a classic chart of price action for any company DeFCon 5 gets involved in. I've seen you post on the Aphria board and know you don't share my concerns but I've been researching this guy heavily all week and I'm telling you this sleazebag is totally bad news and I wouldn't be surprised if their stock chart ends up looking very similar.
At any rate, it seems that DeFrancesco is not involved in any way, shape or form with Charlotte's Web so at least that is a huge plus and I can sleep at night without worrying about getting ripped off.
I'll be very interested to see what they say as well.
The odds change daily at the Las Vega$ on the Hudson. Step right up and place yer bets!
Aphria longs and Aphria shorts and Aphria sideline watchers can bang away on their keyboards until their fingers bleed and the cows come home, but it's up to the regulators and investigators now. If they find something, the courts will decide.
Marijuana Stocks: Here Come the Lawsuits
https://www.fool.com/investing/2018/12/08/marijuana-stocks-here-come-the-lawsuits.aspx
Aphria's Problems Could Prove Toxic to All Pot Stocks
https://www.fool.com/investing/2018/12/07/aphrias-problems-could-prove-toxic-to-all-pot-stoc.aspx
All the market is doing right now is taking bets on the outcome.
Money will be made in MJ. Much more will be lost. Many lawsuit lawyers should do quite nicely, however...
Aphria's Problems Could Prove Toxic to All Pot Stocks
https://www.fool.com/investing/2018/12/07/aphrias-problems-could-prove-toxic-to-all-pot-stoc.aspx
Too bad LLPs and LLCs don't issue stock.
I trust that Lustig will keep his hands clean.
Hey, Spart...I didn't lose enough on Aphria to mess with this but in case anybody got taken for a big bundle...
https://finance.yahoo.com/news/aphria-shareholder-alert-former-louisiana-035000950.html
T-minus 59 days and counting...
https://www.ksfcounsel.com/cases/nyse-apha/
Here's a copy of the lawsuit filed by KSF and the former Attorney General of Louisiana...
https://www.ksfcounsel.com/wp-content/uploads/2018/12/Apheria-Comp-rd.pdf
Southern District of New York? Those are the same guys who are about to put away Drumpf's scumbag personal lawyer Cohen for about 4 years.
Aphria @ $3.75 a bottom for the entire pot sector? Possibly...hope so, anyway.
But a bottom for Aphria itself? Not too sure about that...maybe just a dead cat bounce. At least until they get rid of the CEO and Board of Insiders that insists on stealing from their investors by skimming megamillions off the top.
Here are the two biggest MJ ETF funds...
https://www.marketwatch.com/investing/fund/mj
https://www.marketwatch.com/investing/fund/hmlsf
August 15th, the day Canopy and Constellation announced their big news, one was up over 7% and the other was up over 11%.
But today when the Altria-Cronos news came out? Both up barely 3%.
Maybe it was broader market weakness...and maybe not. Time will tell, amigo.
Since I'm new to this stock I figure I better start chipping in a little as low man on totem pole...
Charlotte's Web: Weak Q3 Can't Hide Its Potential
https://seekingalpha.com/article/4227128-charlottes-web-weak-q3-hide-potential
Good post, z.
I'm not really very greedy at all. I usually have no problem selling into strength if a stock hits my price target or if I think we have a respectable % gain. As a result I've often left a decent chunk of change on the table but that's okay...as somebody once told me a long time ago if you don't leave a little for the next guy he won't buy your stock!
I'm certain that we will be back into Origin House sometime and maybe not too far into the future. Really like this company and believe it has a bright future. I'm just a little down on THC right now and started playing around a little with the CBD stocks.
Rest assured I haven't ripped our "We Dig Lustig" bumper stickers off our cars yet!
Thanks for the succinct but super summary...well done.
The reason I asked about CVSI is that while researching various MJ stocks over the last few months I recall seeing some not-so-good articles about them in passing, but since they were not the object of my research at the time I never really delved into it in great detail very much. But they left a negative impression of the company.
I'll have to DD them more seriously myself sometime but since you are obviously the type of person who does their homework the fact that you yourself own some tells me that either these concerns were unwarranted or have long since been rectified.
Apologies, 77. My last post was erroneous due to an email miscommunication with my father...CWEBF does NOT work. What happened is he called Schwab and placed a GTC limit sell order on our new long position...I suggested $15 simply as a temporary price placeholder but he went with $14.50 instead.
Having done that, the open order now shows up normally in his account...but when we tried to change the sell price just to see if we could do it he gets the usual BS message to call them. I was hoping that if it worked we could have a GTC limit sell order with a real high price and a limit buy order with a ridiculously low one and then we could change either one on the fly if we ever wanted to buy more on a dip or sell it on a spike. But no dice.
It sure is weird that Schwab can enter an order on their end but we can't enter the exact same order or change one that already exists on our end. I'll bet CW has a new ticker symbol on the NYSE or NASDAQ before Charlie's boys get around to fixing it...LOL. Anyway, guess we'll just have to settle for only getting $14.50 sometime next week!
All valid points and many reasons why we just went long on CW this morning.
This stock has been on my radar screen for a long time but only just now getting around to it. I also like the fact that it seems to be a better-behaved stock than many of the MJ ones we've been swing trading for the last 3 months. Feels kinda weird to be in a stock that is actually making money!
Am I correct that if you had to choose just one it would be CWBHF over CVSI? That is the impression I have gotten from reading some of your excellent posts.
Note to Mando:
https://www.reddit.com/r/USWeedstocks/comments/9f12y9/cwebf_charlottes_web_opens_to_the_otc_market/
I just had my Dad try CWEBF and now he says he can see it in his Schwab account so try that ticker symbol and see if it works for you. Just reached my 15-post limit for the day so I'm out!
they were asked about uplist... so that would help a LOT!
I dunno...have you seen how the NYSE & NASDAQ have been doing lately??? LOL
But seriously, uplisting doesn't always automatically help. In recent months some pot stocks have gotten nice pops after moving to the big boards but others actually still plummeted. It depends more on the mood of the broader markets in general and the marijuana sector in particular. And neither one has been all that great lately.
But hopefully while THC has been SOL lately CBD will be AOK.
https://www.fool.com/investing/2018/11/24/forget-thc-cannabidiol-cbd-is-the-marijuana-indust.aspx
I told my Dad to keep trying to enter a GTC limit sell order every day with a really high price like $15 just to see if/when it works. If Schwab hasn't fixed the problem by early next week I advised him to call that number and bitch.
If I understand correctly you have traded CWBHF online before with no problem in the past so hopefully this is just a temporary glitch on their part.
Hey, John...is it just me or do you also think the MJ sector's response to the huge news this morning about Altria & Cronos was pretty damn tepid today? Similar news like this back in mid-August about Constellation & Canopy made the entire sector rocket upward for about 3 weeks but this equally big news pretty much didn't do squat. In fact, many pot stocks still ended lower for the day or not up very much at all.
Either the broader markets totally dampened out what otherwise mighta been a stellar day for cannabis stocks or MJ investors are starting to wise up and realize that great news for one pot stock doesn't necessarily mean good news for every single one of them like that buying frenzy craziness back in August.
Maybe we will have a delayed reaction in the days to come but IMO the marijuana sector is still VERY weak at the moment.
BTW, my stepsister and her hubby rode Tilray all the way up to $300 and all the way back down. Guess they thought it was going to $1000.
DUHHHHHHHHH!
It wasn't really my decision...it was kinda my Dad's. This is how I got involved in pot stocks in the first place. Back in August my stepsister and her husband bought some Tilray and told my elderly father about it...one of those "hot stock tips" we're always getting from friends and family. He happened to have a chunk of change sitting around in his Schwab account that he didn't need and wasn't using that was only getting around 1% a year so he decided to speculate with it and took a look at Tilray but decided to buy some Cronos instead in early September. It wasn't until after he bought it that he even told me about it. I didn't know squadoosh about MJ stocks at the time and I don't think I was even aware that Canada was getting close to legalizing it so I decided to check out the sector to see what it was all about...more to protect my father than anything else.
It didn't take me long to determine that holding on to most of these pot stocks for a long time was probably not the best strategy...Dad has always been a buy & holder type and has done quite well for himself over the decades...mostly from safe high-dividend type stocks and boring annuities and not risky stocks like these potters. I also didn't like what I was reading about Cronos...so within a week I got him to sell it off...it just so happened to be the very same day that Tilray skyrocketed to $300 in one of the most insane moves a stock has ever made. He and I watched it happen real-time with our jaws dropped. Anyway, Cronos spiked at the very same time and I was finally able to talk him into dumping it at $14.86 for a nice 35% gain and we've been swing trading these MJ stocks ever since with me doing all the research and advising him what and when to buy and sell. Even today being up big Cronos ain't never been close to that price ever since...hehe.
But since it's his money (and hopefully not mine for a long time yet although he's getting way up there in years) I told him that if he ever felt he had enough profit or too much loss to go ahead and not wait for me to tell him to sell...I don't want my Pop to have a heart attack stressing out over a stupid plunging pot stock, after all. He was down big in his "regular" stocks yesterday with the broader markets tanking and the pot stocks weren't doing any better so when he emailed me asking if he should dump them I wrote back that I'd hang onto them but wasn't real adamant about it and said I wouldn't blame him if he did. Next thing I know he's sending me copies of all these Schwab trade confirmations. So that was that...LOL.
As far as the Altria-Cronos deal is concerned of course I had heard about the ongoing talks but I thought it was just another rumor. We were in Aphria back in early October when news that Altria was interested in them came out. Obviously that deal never materialized but was still good enough for us to sell that stock at $15.42 for a nice quick 20% gainer in only one week.
You can see from some of our prior trades my timing hasn't been all that bad...just not so hot lately. Anyway, I blame this one on dear old Dad! LOL
Dad finally got an order filled by phone...let's trade like it's 1988 and not 2018!
Schwab better get this problem fixed pronto in case we want to buy more or sell fast. Not real thrilled with old Charlie right now.
FWIW, we've swing traded many of these OTC MJ stocks that end in an F and this is the first time we ever had a hitch.
Sounds like you have already been in contact with them...if so, what did they tell you? Also, what kind of order did you try to place...was it an ATM or a limit buy?
Not acceptable at all! If you can't buy some of these stocks online then you probably can't sell them either which could be even more of a friggin' disaster in case the market plunges and you would like to bail...or if the stock skyrockets and you would like to lock in some profit.
We're trading these stocks through my elderly father's Schwab account...I've been doing all the research for him and advising him what and when to buy and sell since he is an old school buy & hold type and I don't want him to go it alone in the MJ sector since I don't think that's a very good strategy for many of these pot stocks. I've advised him to call the number that popped up when he tried to place the order this morning. I'll get back to you if he does and receives some kind of answer.
Total BS if you ask me.
Did you ever get that problem with Schwab resolved?
We just tried to put in an ATM order to buy some Charlotte's Web and it also said to call some number.
Cronos was halted for a while and just resumed...
https://www.marketwatch.com/investing/stock/cron
Up 25-30% at the moment.
Other pot stocks likely to fly today. Great timing, Dale...you dumbass.
Huge news in the MJ sector...
https://seekingalpha.com/news/3415234-pot-stocks-set-rally-altria-1_8b-investment-cronos-group
https://www.marketwatch.com/story/altria-to-invest-c24-billion-in-canadian-cannabis-company-cronos-2018-12-07
Trading is currently halted on Cronos...when it reopens it will probably be sky-high...
https://www.marketwatch.com/investing/stock/cron
It was similar news that started the huge run on all the pot stocks back in mid-August. Seems we sold off all our pot stocks a day too early...LOL.
Here are a few numbers to give you an idea how bad it's been lately (as if you don't already know!) and why I am so sour on the sector right now. We started swing trading these pot stocks back in early September...by mid-November we were up about 40% on our original stake. Now keep in mind that when we started trading most of the huge late summer runup was already over so we didn't benefit much from that like most of you guys who have been investing in MJ stocks for a longer time did. For much of this time the sector traded sideways and considering that the entire sector crashed in the second half of October I think 40% was pretty damn good, if I do say so myself.
But in just the last 3 weeks or so that overall gain plummeted from 40% to only a little over 10%...still a way better return than just sitting in cash but that's a lot of profit that just went poof. We're still up overall on our Origin House trades as a whole but ORHOF had something to do with some of that % gain dropping like a rock.
Still a good if not potentially great company that I believe will be a winner over the long haul but I just think that Charlotte's Web might be a better play at the moment and I need a trade that makes that % go back up instead of down. Plus as far as I know that DeFrancesco scumbag has nothing to do with hemp! I just can't believe that the Aphria & Liberty folks don't seem to give a crap that their stocks are infested with crooked SOBs but nobody ever accused marijuana investors of being a rational bunch of people...LOL.
https://www.fool.com/investing/2018/11/24/forget-thc-cannabidiol-cbd-is-the-marijuana-indust.aspx
Forget THC...and eff DeFrancesco!