Post by
BigSwings on Aug 23, 2019 5:47pm
Signed Up 2 Markets Makers-Another Good Sign
This should have been done right out of the gate, since the stock was left to drift aimlessly as legacy holders (ie Lineage holders) sold indiscrimanently and somewhat understandably since they had been held in by the halt for so long. My opinion is that smart money has been accumulating to position for a potential Sept/Oct MJ macro reversal and hopefully a stream of HBOR specific good news to come. Remember, smart money (institutions/MJ specific funds) bought this as a convertible debenture ($5.65 range) and at a $7 IPO price not too long ago, with the same current story intact. They'll still likely have negative earnings like every other MJ co, especially with one time charges for the RTO/merger/go public costs. However, if the revenue is as projected or higher this should be a good buy in time frame, especially if the macro picture cooperates. Maybe, they were waiting to spend their money on market making for after the legacy sellers were out, coordinated with an upcoming news flow. I've been buying this week. Time will tell if it was a smart play. Clearly, the MJ sector has been hammered. My hope is that as many of the charts indicate, the sector is over sold and we see a reversal soon.
Comment by
RiskyBiz928 on Aug 23, 2019 7:38pm
I hope your correct. I'm a Lineage bagholder - shares were converted at $7.42 - didn't even have a chance to get out (unless I took a loss). Only option is to average down and hopefully pull some profit from this "stuck in the harbour" P.O.S.
Comment by
upinzmoke on Aug 23, 2019 9:05pm
Hopefully we pull out of this nose dive before we crash!! Canopy did the same thing when it first listed dropping at least 50%
Comment by
BigSwings on Aug 24, 2019 9:24pm
Lol..."stuck in the Harbour" :) I think that it's a good range to average down at. That said, I was surprised to see it go under $3.
Comment by
RiskyBiz928 on Aug 26, 2019 9:59am
And now we are under $2 - should be "sunk in the harbour". :-(