GREY:MMNFQ - Post by User
Post by
olive15on Oct 17, 2019 2:42pm
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Post# 30240998
Insider Buying
Insider Buying
Per Oct 2 filing, Chris Ganan, Chief Strategy Officer (what that title specifically means is debatable) bought MMEN stock valued at $531,184. Big chunk of change, yes. And always a positive when you see an insider shilling out that kind of dough for their own stock. Strong vote of confidence in the company. Still, Ganan can afford the risk, having being given shares with a +34m value when MMEN went public. Still, giving Ganan the benefit of the doubt, he's not in the business of throwing his money away. imo, MMEN is being hammered for many reasons: short seller activity; poor reputation owing to horrible financial management during the early days of being a public co.; downward share price momentum, i.e., selling brings about more selling, scaring retail investors to throw in the towel. For those who are long MMEN, hang in there. They've taken significant steps to clean up financially and rein in expenses, including the latest deal termination withh pharmacann; retail stores are generating healthy revenue; consumer market only keeps growing. It's always darkest before capitulation. At this price, the value of its licenses alone is proably worth close to current market value. As long as management continues righting the ship, stock should be an easy double in 6 months.