American Cannabis Company Inc (AMMJ): Oversold? The stock is trading at 2.4X i...

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American Cannabis Company Inc (AMMJ)

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Alan Brochstein

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Alan Brochstein

Re: tbonaces80 post# 12377

Wednesday, 11/09/2016 1:08:58 PM

Wednesday, November 09, 2016 1:08:58 PM

Oversold? The stock is trading at 2.4X its 50-day moving average at .60. This stock won't be oversold for quite some time. It was very overbought - this is why the pros jumped on this and are shorting it. They will continue to do so, driving it to $0.55 most likely.

In April, the stock peaked at .33 or so and lost about 75% of its value. Maybe "investors" in this overvalued company get lucky and it loses only 1/2 its peak value (so $1.05), but I suspect somewhere between $0.50 and $1.00 will be the interim low.

Lots of trapped longs here...

If you don't like my posts, don't read them. If you think only those who agree with you should post, then start your own message board. My conclusions are my opinion only, based on what I believe to be true. I have no crystal ball.

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Recent AMMJ News

Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 08/14/2024 08:10:56 PM
Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/15/2024 05:11:26 PM
Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 05/08/2024 06:52:29 PM
Form 8-K - Current report • Edgar (US Regulatory) • 03/01/2024 09:05:16 PM
Form 8-K - Current report • Edgar (US Regulatory) • 12/01/2023 05:23:23 PM
Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/14/2023 05:27:15 PM
Form 8-K - Current report • Edgar (US Regulatory) • 11/13/2023 06:30:13 PM
Form 8-K - Current report • Edgar (US Regulatory) • 10/31/2023 01:42:17 PM
Form 8-K - Current report • Edgar (US Regulatory) • 10/03/2023 08:08:52 PM
Form 8-K - Current report • Edgar (US Regulatory) • 09/28/2023 06:36:07 PM
Form PRE 14C - Other preliminary information statements • Edgar (US Regulatory) • 09/21/2023 04:33:21 PM

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