Good Morning!
The MMJ sector is heating back up on Washington talk about legalizing
at the national level . . . and as we speak 13 states are pending legislation.
CBMJ now has news of its own to fuel the party.
CBMJ Launches a New Medical MJ Brand:
As of 90 minutes ago, Wall Street knows that the next move for CBMJ is
caramel corn infused with the mood chemicals that drive the MMJ craze.
This approach is called “edibles” and it’s practically pulled from the MMJ
industry handbook. For us, it gives CBMJ some fire to go with the smoke.
CBMJ is still earlier in the rebound than smoke-only plays. If you missed
out on massive MMJ moves elsewhere, this is a chance to catch up.
Maybe it’s because CBMJ is a little new and the business is beyond the
standard box, but down here around 0.016 it’s definitely lagged the buzz.
Other plays in the space already used Senate legalization hoopla as their
excuse to soar. CBMJ has yet to test the springboard it built.
Lets not forget this is one bullish chart coming of off its 52 week lows:
RSI - Just moved up from oversold to Bullish.
Price - Trending up from support levels. Bullish
MACD - Far below zero line and moving up, Bullish
Acc/Dist - At absolute bottom. VERY BULLISH
Most of the public plays are still living in the hippie dream of smoking the
product. But the “edibles” CBMJ sells are the future. (Read more)
CBMJ is already selling MMJ soda in Washington State and now Oregon,
which are open to recreational users as well as people with doctors’ notes.
I don’t know how fast the new form factor changes the game, but the soft
drink market is already 4x the size of the best MMJ forecasts for 2020.
Everybody drinks. Only “traditional” users smoke. You can do the math:
bigger opportunity, differentiated offering, CBMJ has an edge. (Read more)
And you know the stories about how MMJ users get the munchies all the
time. CBMJ caramel corn now gives them one-stop shopping.
This morning’s news may be just what it takes to breakout the CBMJ chart.
Get ready for action and don’t miss one beat.
Sincerely,
StockHideout