Remember that exciting time in mid to late February when OWCP and even CNBX ran up to ridiculous highs? I don’t think anybody has had any kind of explanation for the Volume explosion.

Up until February 17th, OWCP had averaged around 1M shares traded and CNBX saw between 1M and 3M in the week or so prior. The only conclusion I’ve been able to come up with was that it was related to the announcement of the Agrosphere ETF on February 16th since both OWCP and CNBX were to be included.

OWCP opened at $0.707 on February 17th, hit a high of $0.94, and closed at $0.915. Then, on February 22nd, they hit a 52-week high of $3.23 on over 20M in volume. (Source)

CNBX opened at $3.075, hit a high of $4.41, and closed at $4.00. Then, also on February 22nd, they hit their 52-week high of $7.60 on 10.75M volume. (Source)

Both runs were clearly premature and hype driven. That’s what makes the OTC Market exciting, unique, interesting, etc. But now let’s take a step back and look at perspective.

OWCP is currently around $0.65 as of this writing and CNBX is around $0.94. So, what I’m pointing out to all the impatient, trash talking OWCP folks is OWCP has settled right back to it’s pre-monster run area and has been fairly steady between $0.63 – $1.00 for the last month. Maybe if this possible ETF news (or whatever truly caused the huge volume) hadn’t ever come out, there would be far less “panic” today.

On the other hand, if you’ve been a CNBX long… You’re definitely sitting at lower share prices now than you were on February 16th. In fact, the share price is down around 68% since February 16th.

So, my closing “Perspective” is that OWCP is might have seemed quite a bit more stable if that February ETF news hadn’t hit and caused a massive run up. Sure, some folks would have given up and sold because it’s “boring” to wait for the big news (which I still feel is finally right around the corner). But at least we wouldn’t have folks in a state of panic because they bought in at $2.00 (or higher).

It’s purely my opinion, but I feel you guys that bought in at $2.00+ will still be fine in due time. Maybe sooner than later.

Return on Investment, January 3rd, 2017 – May 24th, 2017 (YTD):

  • OWCP is up 261% from the close on January 3rd
  • CNBX is up 34% from the close on January 3rd

What do you think? Do you see what I’m getting at? Does it make sense? 🙂