It looks to be a classic case of FOMO. I cant find any one other reason that CBD is worth anything more than .50c. I would be expecting a dump soon.
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It looks to be a classic case of FOMO. I cant find any one other reason that CBD is worth anything more than .50c. I would be expecting a dump soon.
On 19th August the NZX did a share price inquiry - "The price of Cannasouth Limited Ordinary Shares (“CBD”) has increased from $0.56, being the market opening price on 17 August 2020, to $0.74, being the market price at 10:31am on 19 August 2020. This represents an increase of 32.1%."
Now $1.21 - share price has gone up 63.5% in less than 6 business days and the NZX has yet to asked a thing???
Why is there such a massive cluster of buyers @ $1.18, is that the sharesies bid(s)?
The fact is some other company are putting up their price per share at $1 dollar/share like Medical Kiwi Ltd, Rua Bio Science which lead this hype stocks CBD pushed up to match the arrival. They run ads on NZ Herald, facebook.. and calling for investments.
It is the hype are running at the moment until the actual businesses are revealed. Until then God knows what the price will be : back to 39 cents or up 1.50 ?