AMMJ starts its final pre-election run tomorrow, here's why:
The sellers have completely dried up, note the very low volume today
The MMs who have been leading the REGSHO-average-up-their-short-campaign, spearheaded by VNDM, stayed well off the ask today at $1
The primary SHORT covering MM, ARCA, was on the bid all day
The last time the stock closed at .76, the very next day they ran it up on short covering to .95
AMMJ is still on the REGSHO list and we are 1 day away from the final week before the election, and Monday has always been AMMJ's best day so the MMs have to cover tomorrow or else they will get creamed on Monday.
Aside from the MM perspective, AMMJ has washed out all weak hands and anybody who was going to sell has already done so this week.
So you have a transfer of shares from weak hands into strong hands, which causes a shrinkage of the float and lots of new buyers who want in before the election are waiting in the wings
Decreased supply of shares + increased demand (MMs covering + new retail buyers who want in before the election and before Monday) = significant price increase
Sleek
