Beware of getting trapped into the cannabis "mania" just like...

Beware of getting trapped into the cannabis "mania" just like the classic Tulip mania long ago. This same scheme of scam has been used over and over again across many centuries. People here don't know. But in recent memories, lots of similar schemes sprung up as rabbit mania, bear mania, quail mania ... The most recent was the bear mania where people went off and speculate on buying bears and raise them to extract and sell bear stomach juice for making Chinese herbal medicines. The classic scam ran along the same line to attract gullible people to invest into these things and the ones who organised the scheme (and their cronies) managed to sell the lot to new buyers and disappeared. In 10 years time, we might look back and accept that medical cannabis was just a mania after all.

After the latest "warmest" news AusCann has been able to release (CEO appointment and a rehashed investor presentation), we had a bit of pop that quickly fizzled within 1-2 days. We will soon see if the big players will dump again and take the share price to a new low. Last time it was 37.5c. If people believe in the chart, the straight line that connects all the lows points to a new low about 34c. If it gets there, the question will be whether it's a decent point to buy some and then set a stop-loss order of around 5%-10% on the downside and hope for a bounce.

I hear a lot of noise here from people who keep calling others as downrampers ... but wonder if people should be suspicious of pumpers who is still trying to pump this stock up knowing that it is still about 100% up from its IPO price of 20c. Who are they trying to fool? That's pretty expensive when you think of a company that still has no product at all. Lots of promising companies that went IPO about the same time are now trading at 5c-10c.