RE:It came out of the gate like the devil was at the door. @Subchimes1:
You are correct in your assessment. The reasons it came out guns blazing when it went public was (in my opinion):
1. Ted O'Pumper pumping the bejeezuz out of this to 3000+ of his "followers". If you have access to his first article, I urge you to read it. The pump was real. The pump was pompous. The pump was unabashed. Sick.
2. Sunniva had a link to that article on their website (not sure if it's still there, and I haven't bothered to check it lately).
3. That to me, coupled with the company paying for O'Pumper's trip to California is stock promotion. That is strictly my opinion.
4. The pump allowed initial investors (the ones who got in before the CSE and OTC listing) to sell into the initial rally and make a hefty profit. My guess is they bought back in after the dump.
5. Sunniva is not on the TSX or the Venture, but on the CSE. That limits institutions from buying it. Same with the OTC listing on the US side. Instos don't dip into OTC, not the recognized ones anyway.
6. So here we are: this is a pretty much dead stock for now and perhaps a day trader's beatch (probably not even that, since the volume is a drip, drip).
I am a holder, but I call it like it I see it. Not like idiots who have the company name as part of their user ID, whom I would call O'Pumper's little helpers and who get all emotional defending his pumps.
Until we see real numbers from their latest financials, this co will be treated purely on x times revenue only, not on MJ future hype or expectations. Only retail can push this up or down, not instos (because of where it's listed).
Subchimes1 wrote: This stock came out of the gate like the devil was chasing it and since then the shorters have been bashing it down. No support and volume has gone away. I guess by now you can tell I am a dusgruntled share holder. GLTAL.