RE:RE:PCLO a short to $1
So , a couple of notes on activity in the stock and also upcoming activity.
Firstly the indexes. PCLO was added in the past to several indexes. The only ones worth mentioning of any size are HMMJ and th U.S. MJ index. The HMMJ index buying peaked at 0.91 % of the index which was about 1.1 MM shares. This index has since sold several hundred thousand shares and now sites at 0.71 % as of yesterday. There is a rebalabce this Friday which is based ion the last Fridays close of $6.21 so expect more selling from this index. The MJ index owns 827,000 shares which hasnt fluctuated more than 10,000 shares . It could also be rebalanced lower come Friday. The problem with these indexes is the more the stock fallls the more the weighting gets reduced which creates a bit of a death spiral in the stock. Also as investors lose interest in these index/ETF;s the selling makes the fund worht less and they are forced to sell.
Secondly is the big elephant in the PCLO room. There is another 20% released form excrow in a couple of weeks. This is also much more widely distributed amongst shareholders and insiders. Its a major proble when a stock that trades 250k a day suddenly is faced with 22 MM shares for sale and coming from all angles. Just look at Harvest and Acreage Farms share prices since about three weeks before their major escrow release. Both stocks dropped about 40% and are still dropping. The same will most surely happen with PCLO. The pumpers on this board will come up with every excuse in the book as to why it wont affect the stock just like the HArvest and Acreage pumpers. Bottom line is that these release always tank the stock ....ALWAYS !
There is also the fact that PCLO is getting quite low on cash. This means an issue is most surely coming. There is little demand on the street for even the best cannabis names out there with real revenues such as CURA, TRUL, IAN, GTII, etc. There will be no demand for fake cannabis companies such as PCLO who has no forseeable revenues and essentially no assets. Look for some convertible debenture marketed deal shortly. Its always death for the stock....everytime !
That scummy Creso Aussie deal is also looking worse by the day. Now its not expected to close by the end of Q3. Creso stock should be sub .30 cents by then and PCLO sub $3. Bad deal all around.
Now I expect Random task will attempt to bury my post with another 15 one sentence posts becuase the bottom line is the truth hurts and his job is to bury the facts,