well, I went from being down thousands on my stake to being plus 800 bux on my stake in the same time it's raining hard in the blue chips on fear being peddled by the bears on china trade war II lies.
so I sold a little just in case we head back under a penny. BUt I definitely held enough that if this thing goes multipenny or even dollar holler, well, I'll be thinking about early retirement.
What's my point? well we got solid news, similar to workhorse. workhorse got a trump mention they are buying a plant in Michigan. they went from 64 cents to 3.27 and now hovers multiple days at 2.00
HempQ says it is COMMENCING bottling a CBD distillate.
great news.
of course, the bears and haters will claim fake news later, or other complications.
but even if true, peeps bought now, hoping in many months...many...months....HMPQ will start rolling a popular new product off an assembly line, and yeah, boom dollar holler...if you bought even just hundreds of thousands of shares....you get the point.
but I've now been in penny stocks, and penny pots mostly for months now. Investors can't even go DAYS before they start hating, driving down prices, and shorting again.
in recent times, HMPQ sines between 0060 and 0200.
my thoughts? well, with hate pouring everywhere else, we might get lucky and some article writer or Jason bond, motley fool, etc, will call out a local pop, we'll get more momentum, and maybe hit 2 or 3 cents. then you'll see a selloff back to sub penny as the market makers beat the longs to best entry and exit.
I am hoping I'm wrong and instead, we get a tilray or workhorse event, where everyone, taking their profits from fake china trade war II decide to take some of their profits and pay the penny slots, see if they can double their money in 1 or 2 days. then yeah, we get dollar holler event. but similar to tilray, it won't last. even then, I'm sure anyone reading this if that happens, they'll sell and gtfo and wait for it to drop near to penny again.
what they will need is confirmed positive press that yeah, they are bottling, soon they will sell, and wow what a product. then it'll go dollar, sell just enough to make sure you are playing on the house's money, but ride the rest to NASDAQ listing levels.
anyhoo, had a million shares yesterday, now I have half a mil. I do expect it to come back to 60....prolly in a month maybe two....but until then....I'll hold and when it comes down, I'll try to be patient and dollar cost average down every -20%
But regardless, congrats HMPQ on being one of the few pennypots and overall stocks today that saved me from having a very very bad day on paper.
AI
