The chart is exactly the refutation to the MJAC. Remember, it was anticipation leading up to MJAC which is why INMG skyrocketed. Typical storybook sequence of events. When the stock became overbought, it had to pull back. The only way that an overbought INMG could keep going higher is if something very big were to happen at the dog and pony conference.
That's not the case here and is hardly ever the case. Every marijuana conference has been advertised as being a potential blockbuster for the company. However, there are so many companies presenting at each conference. Moreover, the purpose of the conference is to advertise medical marijuana, not a specific company, per se.
That's why even if the conference is well-done, if it doesn't live up to the standards of those who bought just because of the conference, the price will tank. Today, however, it pulled back the day before the conference, presumably because everyone speculated that the conference would be a bust.
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