RE:RE:RE:RE:RE:Interesting tidbit on monthly progress reportbmeister2 wrote: Look, inviolablspirit, I have been holding onto hope for this stock even before the concept was invented!! If the financials are NOW up to date and correct, I cannot understand why we are not double digits now when one looks at earnings as compared to any penny stock trading on the tsx. Yes,yes I know all mj stocks have sh!t the bed the past year but fundamentals don't lie. Perhaps a catalyst such as legislation proposed by Senate majority Schumer for August this year could help lift all boats. My investment in Cann is going to need all the water pumps in Canada to bail me out because i am so far under water at the moment.. Here's to that HOPE word again
I can understand why the stock may not be moving at the moment, even though it should after those financials. There can be a few reasons. 1) The current market is in the dumps and investors are not sure of buying anything a the moment, many can be scared of taking a chance after getting hit hard across the board in their other stocks and mutuals. 2) Due to number 1, many people may not have any extra cash to buy stocks even though the prices look very attractive. 3) The summer doldrums tend to drag many stocks down during the summer and those who can buy may be waiting for a possible lower entry point.
I don't mind buying at this price because I don't believe the recession will be as bad as the so called experts or financial wizards first thought and as a result of that this summer may be a good time to buy. Many of the stocks may start their recovery over the summer and so what typically would be the summer doldrums may turn into a great buying opportunity that others may miss out as they continue to procrastinate in their decision to buy. Fear and greed rule the market and fear is certainly gripping many. So typically that is the time to buy and it's tough to time the bottom, so I'm happy getting in now. I think this stock has no other direction, but up. Those financials were really good, especially for a cannabis stock. The company is cashflow and EBITDA positive and I believe this is just the start of a consistent and predictable revenue stream for Heritage, which institutions love to see.
I would expect a lot of resistence as the stock moves up, as there will be those long time shareholders that will take the opportunity to unload their shares after years of frustration. So I don't expect this stock to move super fast, but it will move up.