RE:Red EverywhereLooks to me like the selling is pretty much done here. You never know but it's gone back to wait and see mode until we get resolution of their legal issue with the county.
Yesterday's selloff seemed to be triggered by news of OTHER cannabis facilities being investigated by the county Sheriff. I would expect this to be a precursor to the county issuing fines for any regulatory infractions they cound in Adelanto. With legalization 2 weeks away I suspect they took this opportunity to show the companies that they are still being watched and there would be no free pass once Jan 1 rolls around. The Sheriff's department even announced that no search warrant would be needed to investigate these facilities in the future.
Having said that, LDS announced in a press release that they are continuing their work (using CO2) and fulfilling orders. If we do get resolution from the county sheriff I think people will rush back into the stock. This setback could end up being a necessarry regulatory hurdle that will keep the sheriff away from the facility in the future.
Revenue announcements can be made in January. Or failing that, they can announce customer orders which would work as a proxy for demand.
Seems to me like we are close to the lows or on them at this point. I will be buying more.
themuffinman1 wrote: Red Everywhere in the Mj market except TGIF. Its a black day for sure. Nothing terrible here though it will just continue to fall on negative speculation from the raid. They get to Jan.1 and can release something before the end of Feb and it could be a real rocket.