There is a chance they make it through the process, but it’s a very small one. What’s more than likely is they’re milking as much as they can to pay off as many people as they can. They may clean up the ticker for another company eventually, but who knows how or when that’s gonna happen. It may take years and will go expert market before that if they don’t renew the filings soon
It’s very clever because with the stuff the HSS said in the “leaked” document, and the stuff Item Nine are posting on their FB, it looks like they have all the chance in the world of updating the filings, coming out with news of a buyer, and boom it’s a party
The DEA are the only ones who can change the scheduling of a drug, they usually go with what the HSS says. Hence the weight of the leaked document. Biden wants it to pass because he thinks it will equal a ton more votes. So there’s that whole narrative. But this has been going on since literally the 70’s, every time there’s potential legislation change MJ companies get pumped
The SS still looks nice. It’s very inviting it got me. But when the filings didn’t happen it very quickly dropped through the 0.001 threshold trapping those watching it bounce around between there and .0015
I think the price is being very cleverly manipulated, it has everything to make it seem like a credible possibility, only to watch it go lower and lower. You’ll notice the big dumps didn’t actually move the price down much, they absorb it, then sell it back off the Ask
Couple people online making the technical analysis argument, which draws bullish divergences with every new drop
Bear in mind too now the price is this much lower each tick represents a larger percentage up or down
There is a chance they come out of this. But it’s very small. The reality is they’re a company with no ceo no filings and a lot of people to pay trying to sell a business in a restricted market. Which even if rescheduling happens, it’s not gonna change much, because it’s still technically illegal and de-scheduling entirely is very unlikely
If they find a buyer, it’s game on, and that’s what everyone wants to think if you’re eyeing this up or still in it bag holding
If you look at the volume profile this has never had much vol in it. This recently is by far the biggest vol it’s ever had and it’s mostly shares being dumped onto the market
I hate being a nay sayer. I never usually am. But in this situation I think people are getting hosed, that’s everything I weighed up and considered the last few weeks… thank you for coming to my Ted Talk.
And ps. Sorry KJV this isn’t aimed at you it’s a general TLDR splooge to whoever is reading this page
AI
