RE:RE:RE:RE:RE:RE:Any ideas why this is being sold down again BustyRusty wrote: Ys but why not just hold if you have shares that cheap, this was trading over $4 about a month ago. People who bought those initial shares are people that would have believed in the long term prospects of this company. Also with legislation being released soon, that will bring some major hype into the market, possibly similar to what we seen last November. I don't know about you, but if I'm in at 1.15 or 0.40 i am holding for a larger return. At the very least, back to the PP price.
Yes I was in at the 1.15 price, and yes I do believe that the stock has good value, but nevertheless I sold. Everyone has their reasons to sell, but they often don't reflect value in the company. For me I wanted to lock in my nearly 200% gains and still continue to have skin in the game with my warrants. I got spooked with the action of all the weed stock heading higher and Emblem going in the opposite direction day after day for weeks. It was obvious that this had nothing to do with the space but rather the way the company structured the release of the shares. It angered me that the only shares that were trading was the roughly 8M that the company insiders owned. They lined their pockets by creating staggered stock release dates that enabled only them to trade during a window when there was no stock available. This enabled them to easily manipulate the price. Lesson learned.
After many discussions with D.B. He assured that they will support the price as it get closer to March 11th date. He stated that they had a fleury of news ready to release so that the stock will hold. Yet nothing like that ever transpired as the stock kept sliding. So I lost trust and sold knowing another 33 million shares will go live in June. DB is no longer there to answer for the BS he dished out. He made his profit and moved on to where he got fresh opportunities. Every man has his price,.....does John Stewart? Speculation of course, but not out of the realm of possibilities. As we witnessed, these guys are only in for themselves. So could he ever be lured somewhere else for more money and rewards? If that ever happened, the stock would be cut in half overnight. I have been burned before where the company's reputation and SP was tied to one prominent individual. Lesson learned.
Now, I do realize that between now and June the government is to release their intent for legislation. This should be positive for the sector. But one may also argue that this news is a given and already baked in. In addition there is some validity to "buy on rumour and sell on news". At some point the hype will end and these companies will have to start trading on fundamentals. The release of this legislation may be that point. If so, then all these companies are way ahead of their fundamentals.
For now I'm watching closely where the SP is going. If it dips further I may buy half of what I sold. However, I see more possibilities buying as an accredited investor profitable licensed producers pre IPO.
Please do your own DD and good luck.