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Choom Holdings Inc.
(CSE: CHOO)
Choom has recently announced today that it has closed the acquisition of Island Green Cure Ltd (“IGC”), an advanced-stage cannabis production license applicant under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR). For more details click here.
If you have ever paid attention to this company it does appear that they have been generating lots of positive news and developments recently. This is something that is sure to help get people's attention. Sometimes it helps to know who is also noticing this company.
For Choom we are not going to discuss any technical indicators or charting observations. Although perhaps we can agree on the general direction it seems to be headed. We are going to focus on the inside. More specifically we will be focusing on the insider buying. On the chart below you will notice the green circles. These represent insiders of the company buying shares of their company. Click here for link.
Generally speaking, insiders are more knowledgeable and in the know about their company and its prospects than us on the outside. Due to regulations insiders need to disclose their buys and sells. When they are buying it is generally perceived as bullish. On the other spectrum, when there is lots of selling, it is generally perceived as bearish. Now simply buying and selling by insiders will not necessarily dictate the prices of the company going forward, i can be used in conjunction with the other charting techniques to help paint the bigger picture.
(note: this is a Canadian stock for those looking to diversify)