Post by
Irie99 on Jan 21, 2019 12:49pm
Extreme volume swings are normal for penny stocks
In my experience the CROP trading patterns are really normal for a penny stock. They don’t see consistent volume but can see big volume spikes on positive news. The traders are in wait and see mode right now. I’m a realist, not a pumper, and I see small incremental revenue growth in 2019 followed by a huge spike as the 2019 fall sales cycle comes to fruition.
I don’t expect to see much more dilution as they raised over 6 mil usd in the early warrant conversion period. They’ve spent a lot of money marketing the company, which is smart for a start up. You have to create buzz, but like all the cannabis stocks, the hype trade is over and fundamentals will dictate the future.
I always set stop losses when I trade penny stocks, usually about -20%. If it dips below .20usd I think there could be something wrong and I’ll likely sell most of my position. I’ll be buying all the way down to .20 though. Last dip I lowered my avg to under .25 and I’d love to get a chance to buy in the .21-.22 range again.
Lastly, penny stocks aren’t for the faint of heart so don’t let the penny up or down moves stress you out. Trust your DD and set some mental stop losses. I never hold a non dividend paying stock if its lost over 20%. Take your loss, write it off, and find something better to buy.
I have a strong, realistic feeling about this company and it’s business model.
Cheers
Irie
Comment by
Irie99 on Jan 21, 2019 12:52pm
Obviously they won’t be posting 10-20 mil in revenue any time soon. Just make sure you have the position you want by the end of 2019, that’s when the fun will begin. Any positive surprises in the mean time are icing on the cake. This down time in the news cycle is the perfect time to buy, knowing we have a stream of potential news releases to come.
Comment by
MeowMeowFC on Jan 21, 2019 2:23pm
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Comment by
AnMar on Jan 21, 2019 10:51pm
Good Lord man, you're so full-of-it; You sound like a self-professed know-it-all, yet what you say is complete stupidity for this stock, or most other penny stocks for that matter. Just sayin' from many, many years of experience.