OTC newbies: lesson 101...
when a stock is under a dollar, is on the OTC & has as many shares as this does in the float it is very vulnerable to manipulation. Hence, mm's play off news not to buy but rather suck people into buying as they sell.
last nite, I honestly thought w/ all 4 initiatives passing & natl media getting on the story, that enough new blood could turn that particular sell on the news otc trait. But obviously it hasn't.
this spells out a couple of implications over the next 7 trading days leading into financials:
- though legal pot is becoming a wider known reality, its ability to attract larger masses of investors at this point is still somewhat limited. Keep in mind its a very small sector w/ few reporting or on major exchanges. It is capturing the eyes of risk investors, but it seems those individuals already positioned over the last couple of prior weeks. Time & more exposure will change that & the trend will grow, but it will take more time for critical mass to equate to very large scale volume of new buyers.
-financials seem to be what will draw volume up above mm manipulation in re to the risk tolerant investor who is already in phot. the good news is the stock is holding strong to current trends & hands are still strong. But it looks like getting those hands to buy more will take confirmation of increased revs & guidance on dealing w/ capex & an ending to death spiral dilution.
-finally, strong hands are also waiting for guidance on how the company will continue their growth strategy. This could lead to more buying if developments point to tangible growth. GIFT has that potential wh/ can also draw increasing revs.
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