MMJ Phytotech (ASX:MMJ)

Discussion in 'Stocks & Derivatives' started by smk762, Jan 22, 2015.

  1. finicky

    finicky Well-Known Member Silver Stacker

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  2. finicky

    finicky Well-Known Member Silver Stacker

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    25c now - dud share performance wise so far
    Dont get a good vibe about the management when looking at all the complicated performance rights and unlisted options. Theres also an unsecured loan of $80k to a director. Chair got himself 1,000,000 new shares last half year from vested performance rights. Whats the performance so far? What they say it is. Wonder what they pay themselves in addition to the rights and options
     
  3. smk762

    smk762 Active Member Silver Stacker

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    A few capital raisings to "sophisticated investors" has helped keep it low. Awaiting approval for Canada grow facility, inspection has been done just waiting for the report. Should be announced shortly, unlikely to not have passed. Expect a small rally on the news, then a drop back to around 30-35 as short termers take profit. I'm in long, and ahead off selling some on the spikes then buying back on the drops so I have patience. Still running at a loss, but almost ready to increase production, and enough in the kitty after the CRs to stay in the game until it pays off.
     
  4. smk762

    smk762 Active Member Silver Stacker

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    The long wait for a Canadian grow licence is over. It was approved overnight. Heads up - this should fly today. SP was on a steady decline as people lost patience, and there was some big pre EOFY dumps to bottom it out at 18c. Pre-open has indicative price at 22c. Congrats to those who held on.
     
  5. Killface

    Killface Well-Known Member Silver Stacker

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    Worth getting into this morning? At 23c?
     
  6. dagsgarrett

    dagsgarrett Member Silver Stacker

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    Great news still got a while to go until I break even although this news should get SP back where I need it to be. :)
     
  7. dagsgarrett

    dagsgarrett Member Silver Stacker

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    If you can get them at that price maybe? should be a nice spike over coming days when it starts hitting mainstream news although things to consider,

    Growing will take some time
    They have spent 8 million getting Duncan facility where it needs to be
    They will need additional CR later on for setting up second facility

    Should be good short term play though :)

    All just IMO of course
     
  8. heartastack

    heartastack Well-Known Member Silver Stacker

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    Sheesh this thing is going to get pumped silly. I'm going to stay out see where the pull back goes.
    Can't believe I was behind the news on this..
     
  9. Killface

    Killface Well-Known Member Silver Stacker

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    Yes, thinking short-term. Looking to open at or above 24.5c.
     
  10. smk762

    smk762 Active Member Silver Stacker

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    I'm still in long, but nice to see some recovery from the slide while waiting for licence, and better to know I'm in the green again on this one. Next SP mover will be the financials for last year, and it's indication of pill sales. If it's done well, might get away without a CR.
     
  11. smk762

    smk762 Active Member Silver Stacker

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    Big gains again today on the back of news about legalisation of recreational in Canada. Closed at 0.31, up 34% on open.

    It was strange to see the SP not move much (apart from a P&D) after the licence approval, but now seems news has hit the mainstream.

    217 buyers for 5,244,725 units , 60 sellers for 1,833,971 units

    Fingers crossed for early retirement...
     
  12. dagsgarrett

    dagsgarrett Member Silver Stacker

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    Nice to see some Green in more ways than one with this stock today :), Licence granted, more regular announcements from management, working on short term revenue from capsules and plants. De risked quite a lot now sellers dying up massively buyers lining up :)
     
  13. Revils

    Revils Active Member Silver Stacker

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    And here we are at .31 again
     
  14. dagsgarrett

    dagsgarrett Member Silver Stacker

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    MMJ apparently given buy recommendation by a small cap investor site buy side just jumped significantly this morning should be an interesting day

    [​IMG]
     
  15. StewyD32

    StewyD32 Well-Known Member Silver Stacker

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    up 25.40% now.
     
  16. StewyD32

    StewyD32 Well-Known Member Silver Stacker

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    What are the predictions for MMJ.
    I have a bit in MXC and a wanted to pick up another medical cannabis company. Is MMJ worth a look compared to other medical cannabis companies. They have went up 150% since I started looking at them and a bit iffy if they can sustain the their current trend.

    Thoughts anyone?
     
  17. Killface

    Killface Well-Known Member Silver Stacker

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    Going nuts again today on some news. Somehow I managed to lose money on this stock!
     
  18. StewyD32

    StewyD32 Well-Known Member Silver Stacker

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    Up almost 58% today.
    At the end of the day 2 substantial holders dropped and ran selling almost 10 million shares. Is this good or bad for MMJ?

    This comes on the back of announcing a ready market in Germany and potential future market in a binding LOI for Denmark from its subsidiary Satipharm.

    [​IMG]
     
  19. Lunardragon

    Lunardragon Well-Known Member Silver Stacker

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    Cek SCU
    Crazy....
     
  20. StewyD32

    StewyD32 Well-Known Member Silver Stacker

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    Seen SCU at 800% and about 10 minutes later 2200%.
    Currently 3053% on close.
    I was really close putting in a minimum bid and seeing what would happen today. Surely it'll plummet tomorrow?
     

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