Eeehhheheheheee Oohhhhh!!! Yes, we have seen
Post# of 11899
Yes, we have seen quite the message board drama with this stock, haven't we?!
Sunil, don't worry, we actually do keep up with the board and read everyones posts, at least some or most of us do. RFMK has been a very rough play for many investors, especially in the last few months, so good luck to you and your future endeavors. I would not agree with the assumption that RFMK is not in the group of MMJ stocks which have the potential to give a positive ROI to investors, RFMK surely has the potential to make investors money depending on how they invest or trade. The "other" cannabis related stocks are too experiencing some poor stock performance of late so yours is a blanket statement IMO.
The stock fell down through the 200 MA earlier in the month on relatively high volume but still only around 10% of the float trading intraday and since then the volume has been low and the PPS has moved almost to par value ;$0.001. This is what happens in illiquid stocks, there is typically always a seller, someone needing to liquidate for some reason and without the presence of buyers to absorb those shares, the seller is forced to keep dumping at ever lower prices, unless they wish to abstain from further selling at lower prices but then they are forced to wait for buyers and in these kinds of stocks the buyers typically all show up at once, which is why the charts are usually "spikey", buying on high volume with massive PPS moves and in low or anemic volume the PPS continues to drift lower. Some seem to always assume the big bad "D" word but IMO often that is the scapegoat reasoning, as geo pointed out. The MACD is still in negative territory but appears to have possibly found a bottom. The two week RSI is below the mid-line but maybe trending up now. If past is prologue, and there is no fundamental news tomorrow or next week, my technical prediction is that we see further low volume and maybe an unchanged filled candle tomorrow then on to more fluctuations hitting up against the 10 day MA at $0.0016 and some lower resistance level which I dare not assume because as we have seen, so long as the volume is low enough, on any given day, one or many sellers can dump on whatever puny bid exists out there for a few shares and print whatever intraday low they wish, indeed, even in the trips. As a long term fundamental value investor though, I have the opinion that the stock is under valued if ever the 200 day MA is equal to only double or triple the par value of the stock, not to mention AT par value itself! IMO this is the time for accumulation, not capitulation. Sadly, I cannot participate in further accumulation at such low levels because of principled discipline awaiting much needed transparency in the form of an audited 10K which was promised to shareholders about a half a year ago and since then each week alleged emails from the CEO stating it is "coming SOON". So you will excuse me that I take what is posted with a grain of salt. Many years ago I quit the naive assertion that it is possible to game the MMs in low volume illiquid penny stocks and simply turned to following the fundamentals and the company "stories"; yes, the "stories"; each micro cap start up has a unique and interesting "story".
Perhaps you may have better luck trading the large caps or ETFs.
BTW, some interesting thoughts of yours on the SFI* lock way back. Do you still believe that some of your stated hypotheses were possibly the reason for the DTC lock? Just curious 2 know.