MMJ Phytotech (ASX:MMJ)

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
 
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.
 
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.
 
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. :)
 
HoldMeTender said:
Worth getting into this morning? At 23c?
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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
 
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..
 
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.
 
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...
 
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 :)
 
Revils said:
Was just about to buy at .31 but decided to wait and go larger when I get a big payment around mid August.. it'll be interesting where it goes from here.
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And here we are at .31 again
 
MMJ apparently given buy recommendation by a small cap investor site buy side just jumped significantly this morning should be an interesting day

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

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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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