Zitat:"It may have changed its name, but has it changed its practices?...
Although it is too soon to say that the actions of General Cannabis Corporation (OTCQB:CANN) were intentional, the situation does not look good....
Yesterday was a rough day for the cannabis sector and this weakness accelerated after the OTC Markets reported that it was aware of certain promotional activities related to General Cannabis Corporation. This announcement, coupled with insider sales by CEO Robert Frichtel caused the shares to plunge more than 40%....
On October 12th, CEO Frichtel filed a Form 144 indicating his intent to sell 100,000 shares in accordance with Rule 144. On the same day, he sold 25,000 shares of common stock in the $3.64 to $4 range. ...New Name, Same Problems...
For those of you who do not know, General Cannabis previously operated under the name Advanced Cannabis and was one of the first comapnies to have its trading suspended by the SEC in March 2014 (view the letter issued by the SEC here).....The suspension in 2014 was very significant because CANN was one of the best known and most widely held cannabis stocks at the time. After the shares were suspended, market sentiment started to turn sour and the sector began to trade lower...." ENDE Zitat
Source:seekingalpha.com/article/...al-cannabis-changed-name-practices
Although it is too soon to say that the actions of General Cannabis Corporation (OTCQB:CANN) were intentional, the situation does not look good....
Yesterday was a rough day for the cannabis sector and this weakness accelerated after the OTC Markets reported that it was aware of certain promotional activities related to General Cannabis Corporation. This announcement, coupled with insider sales by CEO Robert Frichtel caused the shares to plunge more than 40%....
On October 12th, CEO Frichtel filed a Form 144 indicating his intent to sell 100,000 shares in accordance with Rule 144. On the same day, he sold 25,000 shares of common stock in the $3.64 to $4 range. ...New Name, Same Problems...
For those of you who do not know, General Cannabis previously operated under the name Advanced Cannabis and was one of the first comapnies to have its trading suspended by the SEC in March 2014 (view the letter issued by the SEC here).....The suspension in 2014 was very significant because CANN was one of the best known and most widely held cannabis stocks at the time. After the shares were suspended, market sentiment started to turn sour and the sector began to trade lower...." ENDE Zitat
Source:seekingalpha.com/article/...al-cannabis-changed-name-practices