I know how much we love this company as many others do on this board. But you have to take the emotion out of the equation right now because it will cause you not to sleep at night.
Here is my take, all the cannabis companies are languishing right now and all are significantly off their all time highs. We got a cannabis rally when the election was over because politicians talk a good game but rarely come through especially in a timely manner. If you believed this administration, cannabis would have been legalized within the first month of them taking over the government. All these politicians are full of crap and lie through their teeth. Now I believe we will get there because nothing gets them to do something more than money and there is an incredible amount of cash on the table from tax revenues that will come from legalization.
With the delay of passing any legalization at this time, many are liquidating their cannabis positions to move their money into different sectors of the market which has been showing better returns. We are back into the IDIOT stock market with the trading in the REDDIT stocks again and those companies are not worth their share price.
You have been stating that SHWZ is in accumulation mode, that is not true. Every buyer is accumulating but every seller is liquidating. Accumulation in the market means the stock is in an sustained uptrend but SHWZ goes up a bit and then sells back off. Currently we are in a holding trend while some reallocate their portfolio. I would back your thesis if the stock was above $3.00 but we can't even get there with the latest earnings report and that stings.
I really thought with that last earnings report we would be in a significant uptrend but I was wrong. Don't misunderstand, I love this holding and know this stock is undervalued and don't believe we will have an significant drop off from here.
I realize that the both of us along with quite a few others have pretty good size positions here and I would rather just wait it out because I believe the upside is enormous and will make much profit from holding and waiting it out than to try to flip many different stocks daily for smaller percentage gains. Just the way I play the game now from the old days of constantly flipping.
I am a realist and look at my holdings in a contrarian way so I don't get surprised. I am disappointed this stock isn't going up but haven't lost my optimism that good things are coming. I really believe if Dye takes a MSO route, this stock will really start to go up in a big way in a much quicker manner and be evaluated with the other major players.
Time to head out for a long holiday weekend. Wishing everyone a great weekend and think we will see some kind of reversal next week and maybe even a press release coming soon.
