Stevenrisk, glad to hear you haven't lost your mind. It definitely has been a dead chat board after much stirring conversation. One of the reasons that I have been basically silent lately.
I will do a final week wrap up now.
I stated a few weeks ago that the market was consolidating due to the many great earnings reports and that we are in an upward mode. Since my post about 3 weeks ago, the market is still consolidating and continuing that slow upward movement. It is a slow and steady climb with no catalyst to break out yet. The REDDIT crowd of AMC, GME and others are the focus of the market at this point but I expect that to end in the next couple of weeks and the market to return to the fundamentals of investing in stocks and a refocus of investment based on earnings/valuations will take place. The REDDIT focus of the MEME stocks will end because they aren't worth what they are trading at. There are so many uneducated investors in those stocks it is scary. Somewhere along the way, some of the retail MEME investors are going to get burned badly. I want to see the little folk make some good cash, but so many of them just buy because what someone says on a chat board and are listening to stupidity. I pray they don't get burned too badly because I like seeing retail investors causing such great change to the stock market so the big boys don't control everything.
Now onto the most important issue of SHWZ. Dye continues to pull off incredible deals. SHWZ has to be one of the most undervalued stocks in the entire market. The selling pressure is either coming from an ex-insider(s) or naked short selling. Once they become an ex-insider, they don't have to file so there is no way of knowing it is them. If it is naked shorting, we need a catalyst(pizazz) announcement of another acquisition or the FEDS legalizing cannabis to get us out of this funk. The next earnings report is too far away so if it is neither of the other issues, we will not move significantly at this time. Either way, we have a great base here at the $2.50-$2.55 level and with one of the big boys (INTL) slowly buying it up, we are in excellent shape.
I have been a big proponent of SHWZ joining the MSO crowd. Many of the other cannabis companies have been adding to their holdings in multiple states and that is the way I think the sector is trending for earnings appreciation. The Canadian cannabis stocks can't seem to do anything right and get any traction, but the market seem to love the USA cannabis sector. The only reason we can't seem to get any recognition is due to the fact that all the USA cannabis stocks are listed on the OTCBB. If they were able to list on a major exchange (NYSE, NASDAQ) then they would be roaring. Dye is doing a great job and I believe that is the way he is trending toward an MSO status sooner than later and wouldn't be surprised to see some kind of announcement in that fashion in the not too distant future. Just my opinion.
While we have a quiet chat board here, I do miss the conversations that everyone brings but it is just the sign of the times right now. So until the next catalyst comes, enjoy that we are holding the current price with some strength on the buy side and look forward to our portfolio growing. If we get any buyers with some aggression, we could see the price breaking the $3.25 high without much resistance but I am not expecting that without some major announcement.
