RE:October is Key for Cannabis RallyWith all due respect - the thinking that what happened last year will happen again this year is what gets everyone on this board into trouble. The investor sentiment is completly different now. Last year investors had little to no revenue information. Everyone thought there was going to be a big boom so people invested on POTENTIAL.
What happened is - that potential was never realised and results have been disappointing. Everybody knows that legalisation 2.0 is coming - its no secret. Just like everyone knew that OILS would get their license. Just like everyone expects OILS to announce a couple of clients.
What investors are waiting to see is if these cannabis companies can have longterm successful businesses. That can ONLY be proven with a few earnings reports trending in the right direction. Announcing clients does not equal succesful earnings.
This means at LEAST 6-9 months. WE may in fact make the target price of 1.75, but alot of that gain may come towards the end of next summer.
Im not trying to rain on anyones parade here - but the constant posts of day to day speculation doesnt help. Neither does blind optimism.
I am not saying that we have to be pessimistic - but at least lets be realistic. Lets buckle in to support (and monitor) NL as they build their business.
I still think there will be a boom in cannabis - but it will be a boom that occurs because these oil based products actually become very popular, NOT because people think they will be. The consumer market will dictate success - not speculation.
End of rant lol