By 10:20 AM, the stock went from .35 cents all the way down to .23 cents.
Why? Because shareholders holding sub-penny price ranges can afford to sell down.
Who? Management, which owns most of the shares
When...will MJNA become an honest company? Never. Michael Llamas's share position allow is telling of the future of MJNA. These are Pump and Dumpers...they are only one thing for certain: GREEDY
This stock is on the verge of a huge collapse back into the teens. All its going to take is 1 negative seeking alpha article, and this thing will TANK.
Where did I say that I incurred any kind of loss?
I am saying that investors as a whole, have lost CONFIDENCE, in this stock. Thats NOT GOOD. Period.
Management is too immature to get this train moving. They need to make some adjustments.
Think about it old Wall Street (lol). The hour spike was the first time ever for this company! You know why because it is is getting recognized, 40 million shares traded yesterday, 30 million the day before! It was inevitably going to happen with good companies that are in long term! Just because you had shares at .04 and you didn't have faith and sold them at .03 and loss doesn't mean we have to!
Look in the mirror and take blame, why blame everyone else?
Sentiment: Strong Buy
Investor confidence was permanently destroyed, not just damaged, DESTROYED when management showed their hand today. They proved they are willing to skim profits from their investors while also claiming to be pushing for an uplisting.
Here is how an uplisting is achieved, realistically:
Management sells sub-penny price range shares to YOU, slowly, but surely, until they reach their target.
Here is how an uplisting gets botched, realistically:
Management takes profit.
Moral of Story: Investor confidence PERMANENTLY CRUSHED. You people have no idea the kind of faith we all had in this stock before this morning. Now, none of us know if this thing is the real deal or not. That's a huge 180 in our ideology, and explains why this thing didn't stabilize at .35 cents.
when the train is supposedly leaving if not right away? Its all a function of investor confidence and management's profit taking. Believe me, i've been in this game for a long time.
Im in still at a good price, but I know the future is grim. People were staying away due to the shady history of the company and the uncertain future of MMJ products. But now, actual investors are stepping back and asking...Why did this thing not stabilize at .35 cents?
WHO, TORE, IT, DOWN????
Someone who had a sub-penny price range position. BUT WHO??
WHO OWNS SUB-PENNY PRICE RANGE SHARES??????
Congratulations kids, you just learned about how pump and dumps work.