Too much chaos. Hard to separate the good from the bad. The future looks bright, but people won't let go of the past. Risk of the unknown is a negative point. I'm in this because they are moving forward on expanding. That's the only positive to look at. if they weren't I'd jump ship. If you have no vision for this stock then get out. If you can see the direction then ride this one.
Keber projects his company's sales will more than triple this year as Dixie Elixirs strikes deals in Arizona, Washington, D.C., Connecticut, and Massachusetts. He is in discussions with six Bay State entrepreneurs, including one in Nantucket, to license the brand and technology.
Actually it is the future that is concerning. Top end revenue estimate for this year was 45MM, but the cannavest deal was called $35MM. 80% of their revenue is to be expected from the acquisition of a shell company's stock that is a serious issue, because the acquisition of highly illiquid stock (record volume was around 5,000 shares so owning millions of shares is meaningless as they cannot be sold), IS NOT REVENUE by any stretch of the imagination..
I have known about this stock for years and bought many shares from .04 to .13, but there is no reason to own now other than the industry looks amazing, I am waiting for the stock to make sense again and maybe it will, but that is yet to be seen.
This won't break .35 until one of these things happen 1) Holder announces the Feds will allow CO and WA to do what they want 2) MJNA releases their legal statement in response to SA (currently in week 3 since the article) 3) Q1 earnings are positive
I don't think Holder has to say CO and WA can do anything they want for this stock to take off. He does need to say MMJ will be respected and that small possessions will not be a priority for federal agents. They will maintain their focus an illegal operations and people trying to game the system, which they should. That's why I like MJNA cause their main focus is MMJ but they would be able to jump right into MJ is it was ever made legal across the board.
Sentiment: Strong Buy
What great facts? They gave $1.5 million to a company Google never heard of? You have to be reasonable and rational. There will be winners in the marijuana market, just do not think MJNA will be one.
Sentiment: Strong Sell