It was crazy. People were gambling that someone would give them more than they paid for it...Even at this price it is very high risk as it could not be worth as much as it is selling for....only has a hand full of employees...and like all the MJ stocks will go down more.
I'm not sure how that works I just know that they have to buy back at some point hopefully at a lower price for them....I know it is extremely dangerous to back a stock that does not have a lot of shorts as there is not the usual support...a stock will fall much faster.
I don't agree that it's shorts making a supply shortage since shorts pre-sell it would make more shares available to buy....yes?
My bet is the market maker might be afraid to hold to much knowing that it is treading down.
My advise for what it is worth is to wait at least until it corrects down to $1.00- $1.50.
This is no dip this is a correction on how much this is worth...is it even worth 70 million as the stock price implies....I don't see how this company with a small number of employees could be worth this much.
So far my advise has been right.
The answer is zero....be a hemorage of money for MJNA to pay now that it has sold all the shares it can now..
I think the company did pay pumpers.
How on earth does a lower stock price damage this company?...Hasn't it already issued all it can.
The only good thing you can say about ERBB is that $10,000 invested in it when it first started is still worth $1.48 after all the reverse splits.
When me and my Mother lived up there, I sure seen some huge ships from Japan come in...One came into Kachamak bay once that looked a mile long to me then, ... loaded up all the logs that were floating out there....they said that it was a mill ship that would process all the wood by the time it reached it's destination.
I thought a lot of the oil in Alaska went to the far east...Japan for years.
It will go up when ERBB does another reverse split when it goes sub penny again..
I don't think one can short this, unless they borrow their own shares can they?
This companies history proves that you lose money holding it...$10,000 invested when it first started is only worth $1.16 right now....
The trouble is that once Hemp is legal, there could be thousands of licenses issued or worse for otc hemp stocks, no license needed at all...Right now this company has eight employees that do what?..is it really worth over a hundred and fifty million the stock price says it is?
I live where the industry is... "booming."....and I can tell you that a teenaged boy and his single Mother in a small town of 700 people can start up quite an operation such as is in La Veta Colorado....maybe bigger and better than most of these MJ otc stocks.
The trouble will be that legalization will destroy any profits made because every one can do it....And probably will be imports from Mexico, and South America will be allowed under NAFTA and World trade agreements someday...
Right here in the rural county I live in there is no profit because every other person seems to be growing it now that it is legal to do so....Most people do not have to buy it that want it...
You are probably right about them shooting up as people like myself would gamble on it doing so. but long term it would be very bad for MJ stocks...even be imports from other counties probably...Large corporations would start if there was profits to be made..wouldn't they?...I am sure many jobs would be made for low cost illegals working it as much of it will be subed out....Yes?
"will crop up"...already happening in this rural county of Colorado...most people here can get it free from someone if they want to...And my neighbors are growing WAY more than the legal amount.. of course there has never been much law enforcement on growing it here unless it came from Feds..now there is absolutely none.