LBUY
Updated
some more lines & squiggs
Note
Thoughts on LBUY:Technical Perspective - as mentioned on twitter earlier this morning: twitter.com/PsychoOnWallst/status/1136291025507508230 LBUY has been drifting in and out of buy range for those looking to build longer term positions, while providing traders several opportunities to trade a near 30% range between .80-1.10usd.
If it can consolidate at current price levels while the SRSI finishes a reset then its probable we'll see another attempt to breach that 1.10 area and drift up to 1.18 if carried through.
Volume shows clear accumulation and this most recent acquisition news highlights a very juicy bullet point from a fundamental perspective:
"The acquisition would double Leafbuyer’s current revenue run rate."
Seen here: marijuanastocks.com/lbuy-announces-letter-of-intent-to-acquire-leading-cbd-trade-show/
Also to note:
the current float is approx. 22.6M shares in circulation (as of 4/1/2019)
market cap of only 41.5M USD (as of 6/4/2019)
roughly 5% short (as of 5/15/2019)
Conclusion:
Significant room for market cap growth
expanding portfolio thats represents multiple facets of the marijuana sector that are poised to grow exponentially as regulation eases.
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