Thanks for the reply. Always interested in another’s thought process. But alas, I did sell out today. Up almost 100 percent up on this one, over 200 percent on 2 others, my worst I think was 80 some percent. Doesn’t matter, I don’t have the clarity for this type of further move. When I sold this one today the rsi was at 77.17. Volume was dropping day over day. I do understand the reasoning for the move from last week/ schedule 1 to 3 request. But that in itself will not change the fundamentals for this company. From the release it shows “The ball is now in the DEA’s court, since the top narcotics enforcement agency in the nation must now conduct its own internal review and then make a recommendation to Attorney General Merrick Garland” that’s fine but this is not going to happen overnight, nor IMO anytime soon, as they go on to say from the release “While there’s no set timeline for any of the review process or deadline for when it may be finished, industry experts have been speculating for months now that the Biden administration will likely push to have a resolution before the 2024 election”
The whole thing about this is it is not de-scheduling which really needs to happen. Still going to be illegal on the federal level. I do see your post which you state “Senate Banking Committee Chairman Sherrod Brown (D-OH) said a marijuana banking bill is among his “priorities” that he wants to advance “in the next six weeks” He is still pumping it, he did get it included as a add on a couple times now, but never made it to the vote, I do not think it’s a guarantee it will be resolved, but I guess sooner or later it should pass, helpful when done, but the big hit will be when the congress votes and passes fed/legal/ legit. There certainly be some interaction with the FDA at that point, policy/procedure/rules/ guidelines and so on, and there will be a special {they seem to be locked into 10 percent range to start} but, we’ll have to see what the finally wording is. In any event I still have over 25 other stock that needs to be paid attention to and I think most of the fluff has been taken on this sector, at least for now. If not, I’ll have to rejoin later. IMO
