GREY:SPBBF - Post by User
Post by
MartialArtson Apr 07, 2018 10:23am
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Post# 27847249
Interesting marijuana stock "IPO"
Interesting marijuana stock "IPO"
Very interesting to see these marijuana listed companies skip the traditional IPO route and reverse merge into old speculative mining stocks. It's happened with Newstike HIP.V and countless others.
What is very interesting here is the very low market cap. What do investors here use to research the company? I generally don't buy into a company until it can be charted. Not chartable via stockwatch but is chartable via tradingview & investing.com
It certainly appears, based on the warrants, that the people behind this expect it to jump well over $1 since the half warrants from the initial bought deal which expire November can be exercised at that price. And Hadley was trading at over $1 prior to its change of focus to MJ.
Very interesting to see the charts since the numbers and resistance are based on Hadley which is a differently different type of company. This is where the charts would be unreliable from prior to April 4th 2018. And frankly charts on this highly manipulated microcaps and penny stocks are unreliable. A better metric is insider credibility and execution.
Based on the previous charts and offering, and extremely low market cap, this stock has strong resistance at 55 cents but I would not be surprised the mid 60s is really the effective resistance levels given it's tiny market cap.
Everyone appears to be waiting for the Health Canada license and once that arrives, we could see multiples in gains here. If it doesn't arrive this could simple be a sham.