The Investing Game
Posted by OtterMan on Sat, 24 Apr 2021
$5K - 52 Weeks - 20 Penny Stocks
Current Status (-$2,095.63)
Week - 10
Up 92 and a qawrter…
Say it with me now, and a Qawwwterrrr!
An actual gain this week, not much but welcome. Driven mostly by nice gains in a couple of tickers I had as favorites to do well at the start. OZSC & MMEDF are both positions I hold IRL (in real life). I’m happy to hear that MIND MEDICINE is uplisting from the OTC market to the far more prestigious and respectable NASDAQ. Which I think is kind of a big deal for a company in this line of endeavor. A company offering therapeutic psychedelics trading on a major exchange is, I hope you agree, a little trippy! The uplist news sparked a 65% uptick in the price. I knew this was coming from prior news and was looking forward to buying more when it was no longer subject to the OTC buy fee. OZOP ENERGY SOLUTIONS had a strong 3 day turn around late this week. I really want this one to reach 22 cents and just drive a couple pitons into the cliff face and hold on for a while.
Humbl took a tumble! Shedding almost $45 this week for a dramatic 5 spot “swan dive”. More of a belly flop really.. Ten gainers overall made for a nice positive finish to this weeks activity!
In the epic Week - 4 ”Witchcraft & Wizards” post, GLOBAL CANNABIS APPLICATIONS took a hold on first place and has yet to let go. Dropping almost ten bucks during a week that others made gains is not a good look however! In those six weeks on top half the gain has slipped away. I doubt that will be good enough to hang on the coveted, and as yet unnamed, champion of the year award.
I find it interesting to consider the myriad factors that influence the mood of the markets. Two events this week may have been in play. The first is, what I would call, a hard core stock influence. There was talk in the current political administration of raising something called the “capital gains tax” late this week. It would be a fairly substantial bump for those in very high income brackets. The impact will be somewhat proportional across more realistic incomes as well. Policy proposals like this can often cause a “disturbance in the force” as it were. The other was more of a societal influence.
A criminal trial with vast social implications concluded. The verdict was read after the close of the markets on Tuesday. The verdict, I believe, was seen as favorable and Wednesday morning started a rally which appeared to cross a number of diverse sectors. While I value the effects of social change and justice as much as the next guy, like many investors the prospect of cities being burned to the ground can have a depressing influence on the confidence factor.