Outside of a reverse split and/or a significant increase in revenue, I don't think this stock can remain stable above a dime. I do feel pretty confident that speculation will go up with Washington but am concerned the rollout will be bumpy due to delays with the state government approving growers/dispensaries in time for the outdoor growing season and allowing enough MJ dispensaries to begin business for the launch. The launch will definitely happen... and sales for businesses and tax revenue for the state should grow fast... but I expect to see nay-sayers exploit the situation by claiming the launch is botched, sales are low, weed stock is gone, etc. Short volume is rising significantly in this sector which makes me think they smell blood in the water. Unfortunately, MM's know the sector very well and I've noticed that what should be a predictable market response is being preempted when there's any advanced warning of news or big events. As a result, I think the "hype and spike" will be lower and slower than Colorado.
As for the company, I like their direction as a whole as they appear to be cleaning up their act and offering a good vending product. It has also gotten less pump'n'dumpy since the SEC started cracking down on this sector. So I feel confident enough to believe ERBB will still be around and their stock still be in good range to plan ahead. ERBB is moving up my 'go long' list but think there's still time to ride its volatility until this fall.
All that being said, I've been loading up in the low 0.02's as I think it's a good entry point for some nice quick returns. I've gotten a bit more conservative with pot stocks so I've set my sell target at 0.06's but will take 0.05's and pacing out my sells in case it gets to 0.08's... which it very well can with some well timed PR's as this stock's history has shown. It may also go over a dime for a bried period but I'd rather take nice 3x-4x profits and have that money work for me elsewhere after the sector cools down again rather than getting a bit too greedy and stuck holding the bag for several months until the next big event which is November elections.
Speaking of November... there are some wildcards in play such as a rescheduling of MJ but I'm on the fence about the long term positive impact on these stocks as businesses in this sector will still have to prove they can profit with their business model and increased competition from the change in the political landscape... but that's looking past the elections.
Anyway, that's how I'm playing it and do your own DD. GLTA.
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