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Planet 13 Holdings | PLNH | Long at $0.39The marijuana sector has taken a beating over the last few years, yet certain companies may provide value and dominate the space in the future. Enter Planet 13 Holdings $OTC:PLNH. This OTC play warrants extreme caution, though. It's either going to zero or could produce massive returns. My personal logic is not to bet the farm with any OTC play, but maybe an old goat ... and potentially buy the farm in the future. From a technical analysis perspective, my selected historical simple moving average (SMA) line is approaching the current price of $0.39. Frequently, as this SMA line and price get closer to each other, there is a pop in the price. Fundamentally, financial growth is anticipated. Financial highlights from the Q3 2024 report state that the company's revenue was $32.2 million as compared to $24.8 million, an increase of 29.7%. The increase in sales was driven by the addition of Florida as well as strong sales in Illinois. Gross profit was $16.7 million or 51.9% as compared to $11.1 million or 44.7%. Free cash flow: $108,807 million. Operationally, OTC:PLNH looks pretty good on paper. Marijuana legalization in the US is only going to expand. It's inevitable given the changing sentiment around the topic. If OTC:PLNH can do well in this space and is able to continue to grow, this ticker could get very interest. Thus, at $0.39, OTC:PLNH is in a personal buy zone. Target #1: $0.55 Target #2: $0.75 Target #3: $1.00 Target #4: $5.75 (very long-term outlook if legalization spreads...)
OTC:PLNHLong
by WorthlessViews
Aurora: Sleeping Beauty 👸It's time to activate our wake-up call to get Aurora back into motion, since we expect the course to rise up North, even though it is still creeping sideways momentarily. In our alternative scenario, there is a slight probability of 33% that the course could drop below the $1.14 support line instead. In this case, it would continue to move South until it reaches the low of the grey wave alt. II. Primarily, the stock should make the climb and fulfill the blue wave (iii) before dropping into a correction of the blue wave (iv). Once completed, the course should have gained momentum to be able to exceed the resistance line at $2.49 and wander further North in order to complete the pink wave .
TSX:ACB
by MarketIntel
Canopy Growth: Ball Drop 🪩Just like the Ball in Times Square every New Year's Eve, the Canopy Growth stock is currently dropping it low. We expect the course to dig deeper into the blue trading area between C$3.49 and C$0.70 until it finishes the grey wave II. After completion, we're expecting the course to rise further North in the longterm. In our alternative scenario, the Canopy Growth stock course might exceed the C$5.55-mark already now, without pushing for further lows below the support line.
TSX:WEED
by MarketIntel
1
Bargain Hunting - OBV Divergence?This is just a thought here - although this appears to be a never-ending downtrend, I wonder if this on-balance volume divergence signals something. This shows that buyers are willing to step in here a bit more aggressively than the previous "bottom," as shown by higher OBV despite lower prices - even though OBV has declined overall since its peak. We're also seeing higher OBV in general since 2021, which could signify aggressive accumulation despite continued decline in value. This sort of behavior can be seen throughout the cannabis industry. ACB is roughly 98-99% down from its all-time high. Not that it could ever get back up there, but I think at least a return to the $6-7 range is possible over the coming months. However, since the downtrend has technically not ended, there is still significant risk of continuation to the downside. Seems worth a speculative gamble though, as per my last stock analysis and being "strategic." Overall, I'm only down 12% on stocks since I started investing slowly since last year. Not too bad, considering how far down big tech has tumbled. That's probably because I've stayed away from big tech, and been pretty careful about investing too much in weed stocks, at least until prices started to get obscenely low. I also managed to stabilize my portfolio by investing in Uranium ETF's, which helped a bit. -Victor Cobra
NASDAQ:ACBLong
by VictorCobra
Weed stocksTLRY, CGC, SNDL, ACB So far this year looks like the weed stocks have found a temporary bottom. Most are curling off the bottom. TLRY has lots of resistance above but last few days has been pushing with increasing volume. Just keep an eye on them if they really start squeezing. Most likely will be looking at some calls this week to see if we can get some follow through. Of course it has been in a nice downtrend overall for over a year but I do like what I have seen last few days.
NASDAQ:TLRYLong
by InvestBro13
Weed Sector Capitulation and Accumulation (MJ) What's going on with weed stocks?? There are justifiable claims that some of these companies could still be overvalued. However, despite declining price, On-Balance Volume remains relatively high compared to what we saw during the last major downward swing between March 2019 and March 2020. This could signal accumulation. Additionally, the UO (ultimate oscillator - red) shows a bullish divergence on the daily chart. People who own weed stocks know they need to be patient. The more capital and wealth one has, the easier it is to be patient. This drives accumulation by wealthy entities. I've noticed signs of emotional capitulation by retail weed stock owners. Sentiment is truly awful. Meanwhile, price is just barely sitting on a major horizontal support level. Interestingly, MJ didn't start to truly bounce from the 2020 lows until Bitcoin started to make its rally towards all-time high last fall. Does the weed sector follow once more? Below here, and the next support isn't really until around $10, so I see this as a pretty fearful moment in this sector. If it gets down to those lower levels, perhaps I'll purchase more. I'm not really in any hurry. Even in a financial crisis, weed will not lose demand. In fact, as mental health issues increase, so do coping strategies such as smoking/using weed. The weed industry also involves the stable price of a good. Goods and services won't go anywhere in a financial crisis. Weed is a particular kind of resource, so I think it will trade differently. This is part of my reasoning behind my own accumulation. I guess we'll see! If MJ can bounce hard from these levels, I think it can complete a longer term accumulation process and begin to exit the trading range. This is not financial advice. This is purely for speculative and entertainment purposes. -Victor Cobra
AMEX:MJLong
by VictorCobra
3
TCNNF Current Price $36 PT $50TCNNF | Shares (no options on this) TCNNF Current Price $36 Price Target $50 This company is a US based weed producer and retailer. Trueville cannabis is one of the rarely profitable cannabis firms. They are set to benefit greater than any other stock on the market from more states legalizing marijuana because they are a pure play US pot company. Why buy Canadian pot companies ( TLRY,ACB,SNDL) that aren't profitable when the real weed market is in the US. For example the state of California alone is a larger market for cannabis sales than the entire country of Canada. Long term holder of TCNNF, Its my top pick of the pot sector.
OTC:TCNNFLong
by Value-Invest
1
Aurora'ing back to life..will ACB burn one to get a yearly HIGH?EMA cross (50/200) on the 2hr chart, maybe back testing the 200 EMA now. Bresserts crossover on the weekly chart in oversold territory (last time this happened, it pumped $10 in the following 2 weeks - past performance not necessarily indicative of future results). CMF shows money flow is in positive territory, relative strength hovering just under 50 RSI. I'd like to see the price touch the $8.80-9.00 ideally, but the downside can be complete here. Semi-worst case it should hold $8.00 but still would not invalidate until major support is breached. Good R:R IMO... this one can be a volatile beast. It is possible we see a pump to the $10.90 region and a retrace to these levels again ($8.50-$9.50) before moving higher. Placing major support at $7.20, soon to move up to $7.60. Keep in mind this is the one traded on the NASDAQ in USD, so you'd have to convert support regions accordingly if trading on the TSX exchange chart. Inverted H&S formation points to $21-$23 region... but should go 'HIGH'er long term.
NASDAQ:ACBLong
by faronf
Blank-Check Firm Silver Spike Soars After Weedmaps Deal mergerWM Holding Company, LLC, the Leading Technology Platform to the Cannabis Industry, to List on Nasdaq Through Merger With Silver Spike Acquisition Corp. The estimated post transaction equity value of the combined Company is approximately $1.5 billion, assuming the $10.00 per share PIPE price and no redemptions by Silver Spike shareholders and provides up to $575 million of gross proceeds through the approximately $250 million of cash held-in-trust by Silver Spike Acquisition Corp. and a fully-committed common stock PIPE of $325 million As a result of outsized demand, the PIPE offering was significantly oversubscribed and upsized, including investment from funds managed by AFV Partners, the Federated Hermes Kaufmann Funds and Senvest Management LLC along with a $35 million commitment from Silver Spike Capital WM Holding’s executive officers will retain 100% of their equity in the combined company, which will have approximately $100 million of cash on hand after closing. WMH has grown revenue at a CAGR of 40% over the last five years and is on track to deliver $160 million in revenue and $35 million in EBITDA for 2020. stock finance.yahoo.com
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by AlenCiken
2