Respectfully, I say advance with cautious optimism.
Don't get me wrong, I'm curious as the next investor for the launch of Citizens Toke.
However, I'm separating the "announced opportunity" excitement (hype) that helped fuel the run back in January from the excitement (hype) behind the Citizens Toke app.
What I mean is, I'm having trouble deciphering if it was one, more than the other, that fueled the run in January.
Influential forces with a heavy following often times have a direct impact on why a stock runs, more so than the products or services offered by the company one placed their bets on. And that has a lot of benefits in and of itself for those who play and trade smart! It's a big part of the OTC and I've capitalized on this type of action many times over.
On the other side, every now and then a company has a product or service (Citizen's Toke) that completely takes off and finds success in the marketplace. Coined "the Groupon for weed", the concept is great and does have a lot of potential. But we need to see it launched first to see if it's truly accepted and successful as hoped by many here.
If it is, then we could see the price per share react as it did in January.
Perhaps the run a few months back was a combination of both, but the timing was off on the launch of Citizen's Toke, so we won't know what truly fueled the run until the app is officially launched.
As a side note, if we see a positive reaction in share price to the launch of Citizen's Toke, keep in mind the O/S has changed, and needs to stay in the current range (keep an eye on filings that show share issuance), in order to capture the fullest extent of another run. Because the history of the share price now welcomes swing traders, and shares bought at higher levels will provide different resistances on another run, thus locking the float becomes more difficult.
Lastly, to completely counter much of what was mentioned above, this time around, market makers will not be caught in another short squeeze. A factor that likely had just as much to do with the run in January as the influence of the "announced opportunity" and anticipated launch of the app.
Cautiously optimistic this time, is the way to play it. And I mentioned before that this has now become a trade for me.
Disclaimer: I'm rooting for success. I don't short any stocks in the OTC, my brokerage account won't allow it. So any underlying negative sentiment is based more on a realists approach, not with the intent of trying to pry shares away from others.
Go MJTK
Rec
