It's overpriced, along with many other mj plays. Unless hype returns, or these companies start showing huge jumps in revenue reported, I believe the sector consolidates lower before more investors will jump in and push these higher. If I'm wrong, I'm still watching so I can always jump back in. Right now, mcig is trading lower than I sold it and i think it heads back to .09. With a current market cap north of 40mm investors need to gage confidence mcig will generate 7-8mm revenue by fye. I doubt see that happening, and anyone that wants to argue that is purely speculating.
It may go up to .16 or .18 before retracing. We'll see. Rsi appears to be at a pivotal point imo. If it breaks under 50, I'm very confident we'll see 9s.
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