New York, NY – November 18, 2016 – Wall Street Corner Report
North American Cannabis Holdings, Inc. trading range has been down slightly the last two days. Until the last todays the trading has ranged from $0.0004 to $0.0005 occasionally testing the $0.0006 level with a breakthrough to $0.0007. The range the last two days has been $0.0003 to $0.0004. Candlestick Analysis at the end of yesterday demonstrated a Homing Pigeon pattern indicating a BULLISH REVERSAL opportunity and signaling a short cover. Given the recent dividend declaration by USMJ of stock in Purataion, Inc. (PURA), the potential short covering could be good for PURA too – see more below.
USMJ Stock Technical Analysis OVERALL BULLISH
Stock Technical Analysis (stockta.com) identified yesterday’s homing pigeon pattern and has rated USMJ’s outlook as overall BULLISH.
USMJ Short Squeeze
USMJ announced a potential short squeeze on Friday, November 11, 2016 based on a report from the OTC Short Report indicating approximately 4 billion shares have been sold short in the last 30 days. Yesterday, USMJ posted a response to shareholder questions regarding speculation on a large short position. The post acknowledged large new stock issuance over the last 2 years, but indicated that recent debt reduction (In the fiscal 2016 year, the Company reduced balance sheet reported liabilities by more than forty-five percent eliminating over $2 million in debt.) has reduced the potential for new stock issuances and that short sellers may have overestimated coming new stock issuances and could in turn be experiencing difficulty covering excessive short positions.
Potential PURA Buy-In
Yesterday’s USMJ website post also addressed a potential scenario leading to Buy-in pressure on Puration, Inc. (PURA). The Squeeze Report indicates that at the time USMJ declared a dividend of PURA stock on October 21, 2016 there may have been over 1 billion shares short. That would mean there is no dividend allocated for issuance for over 1 billion shares and the sellers of those 1 billion shares would have to purchase PURA stock to make up for the dividend shortage.
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To learn more about Puration: purationinc.com
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Puration on Facebook: Facebook.com/puration/
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.