🔥 +39% Scorcher

Promo push sends this stock soaring [Image] Cause and effect. That’s how the universe works. That’s how stock promotions work. Promoters get traders excited about a ticker, hoping they’ll decide to scoop up shares. It’s pretty awesome to see this happen in REAL-TIME! Initial promotions hit back on March 12, 2023, a Sunday, no less. By Monday, the stock traded as high as $1.39, the prior close being $1.05. And all this happened on 1.3 million in volume. Pressing the message, we got daily emails for the next week. But it was Monday when things got saucy. That was the day shares popped +39% from the prior close. [9bUXyCAdtMOg2OPImTr7pgHaCGnEIEVaDXJZ0kjeRCL2ydaeukPZ3Z1GZwVTHUTfOiEgn5ajmr65FAkaN3_Nxa3tceLOaZiG0gabw3HINLFYHUEPxlpYIP8E_XgChONUPWz9yJAgyZzQi0UrusgwrUo] So, who exactly is InMed Pharmaceuticals Inc. (NASDAQ: INM), and what do they do? InMed's Pharmaceuticals Inc. (NASDAQ: INM) - 1-month trading range: $0.9213 - $1.6800 - Typical average daily volume: ~800,000 - Float: 1.08 million InMed Pharmaceuticals’ Business Cannabis has slowly crept into global acceptance. Many states allow for medical cannabis treatments, and some even have full recreational usage. While the plant has been used for thousands of years, its full potential isn’t yet fully understood. No wonder we see small companies like InMed popping up everywhere. The company labels itself as: A global leader in the pharmaceutical research, development, and manufacturing of rare cannabinoids and cannabinoid analogs, including clinical and preclinical programs targeting the treatment of diseases with high unmet medical needs. To give you an idea of the different chemicals within the cannabis plant, check out the diagram below from Wikipedia: [OgxfBxeOj5SG89f3oeJ45fK4YSU1LW7TAWd6kEBkK9IlBkjIT5wytBJQxo7FLJPu0QrmKAAqaf0-vdfjZTAKcSadI20UmBk7ZMqCeJ11tyH1COnGq0SbjqTy9BSc15LBdNyg9-gPfsnK2N4yXArRBCM]( [Source: Wikipedia]( The company’s main focus is CBN (bottom right of chart), with one product in its pipeline already in Phase II. It’s also in the process of working on two other projects in the screening phase. [LVX9Tkpm4OWvhfKGWfem-skITLX4-lvIeGs1qMsidL8CFYR_zDZF0CCKbZUYPeIkQy8l6IExZCLPD2WUBbbkVCpRHrAJeXGxVK_n0RVXaJH0cDJ60h4Hf3pfw9ssdSuYgl0GHvyn7Xzmp-gtdhP3VJQ]( [Source: InMed Investor Presentation]( Along with its development, InMed boasts large-scale manufacturing of rare premium cannabinoids. [Sxf9yDWccODt_SF5FLGGpISllahQyrjwVh9eivmZ7yh_Os4O3eq8GlZo5Brzbxv8uzXEpJmL0NxlmrItVhmXTFcTx8nLd5XpCi9n0nyAXAKH0pO0_NyLanOzFjV00iQGubSiSbHG7hOaRaFVi9NYph0] [Source: InMed Investor Presentation]( Financials InMed started selling and shipping its products in 2021, though in limited quantities. The first quarter hit $300,000 in sales, growing to $500,000 in the last quarter of 2022. However, the company runs $2.2 - $3.5 million in operating expenses each quarter, giving them an annual cash burn of $2.5 - $5.0 million annually. Thankfully, InMed holds $11.5 million in cash on its balance sheet due to a $6 million capital offering in November 2022. Promoter Activity The promoters cover the major headlines that could act as catalysts, including: - February 17, 2023, Q2 results highlighting strong cash position and growing revenues - March 13, 2023, announcement of a published peer-review study demonstrating the anti-inflammatory effects of rare cannabinoids. - November 16, 2022, news surrounding collaboration grant funding for the neurodegenerative disease program with the Natural Sciences and Engineering Research Council of Canada - Low float - Oversold technicals I found it interesting to see the March 13 announcement coincide with the first promoter activity. Yet, those initial emails didn’t include that news. Nonetheless, I don’t see that as material as the quarterly announcements. In fact, outside of the financials, the other announcements really don’t provide much information. Most investors want to see whether the company gets approval to sell its drugs or not. That’s largely what folks care about with biotech or pharma companies. Now, I did come across two promoters hyping InMed. One was compensated $5,000 for a two-day campaign lasting from 3/12/2023 - 3/13/2023. This comes after a $25,000 payment for a one-day campaign on November 8, 2022. The other promoter was paid $30,000 for a two-day campaign on Apirl 21-22 of last year, $27,500 for a two-day campaign from June 9-10 of last year, another $25,000 for a two-day campaign on November 15-16 of last year, and finally, $25,000 for a two-day campaign from March 15-16 of this year. All-in-all, that’s a decent amount of firepower for a company that has virtually no sales to speak of. Straight to the Facts Sometimes, it’s all about promotions. Coupled with the right timing, stocks can make a nice run as they did on the 20th. If you look through the stock’s history, you’ll see a tight correlation between promoter activity and price action. Of the stocks I’ve reviewed so far, this one has the clearest tendency to move on promoter activity. So keep this one in your sights. Always at your service, Baron Von Stocks Disclaimer: Always do your own research and consult with a licensed investment professional before investing. This communication is never to be used as the basis of making investment decisions and is for entertainment purposes only. At most, this communication should serve only as a starting point to do your own research and consult with a licensed professional regarding the companies profiled and discussed. Conduct your own research. This newsletter is not a recommendation nor an offer to buy or sell securities. This newsletter is owned by Red Oak Media Group LLC. Any wording found in this e-mail or disclaimer referencing to “I” or “we” or “our” or “AS” refers to Red Oak Media Group LLC. Our business model is to be financially compensated to market and promote small public companies. 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