American Cannabis Company Inc (AMMJ)

[Alan Brochstein]

Wise words:

After the vote, smart money will be looking for companies with real products and real revenue. These puffed up companies with cool names will fall to the side.

I did an extensive review of companies that like AMMJ have "cannabis" or "marijuana" in them, and with the exception of one that did a reverse-split, they are all up more than the market on average.

For stocks like these to keep running, people who apparently have been living under rocks and are unaware of the cannabis legalization progress over the past few years will have to suddenly want to buy penny stocks with insubstantial or totally absent businesses (AMMJ is insubstantial, not the latter).

California already has a massive legal cannabis industry (medical). This isn't likely to be a real great opportunity for AMMJ.

If AMMJ were a great opportunity, then they would be hiring staff. I have seen no evidence of this at all.

I have seen so much hyping of these cannabis stocks - places like MoneyMorning, etc. Betting on people who haven't already seen these promotions or that haven't seen huge gains already made to come in and buy these stocks at super inflated prices seems like a bad bet. Like I have said, Corey is a nice guy and not stupid. Selling 203,500 shares at $1.875 was a nice clue about what he thinks, and there is a lot more where that came from. He knows that the financials will blow too.