just my 2cmy concerns:are as follows:
- agreed with thetesis that even if these transactions with cannapharmarx close, snn monthly burn rate and capital expense burden is still onerous and they will need to do another pp (probably another 5 - 10 million shs). But it will be great to see the cad debacle behind them!
- according to cannacord, quarterly sales are lumpy (I was worried this would be the case) and q2 will not have near the top line numbers that q1 had, thus calling into question mgt credibility yet again in terms of stated revenue projections on multiple nr's.
- mgt turnover has been hard to keep up with and that is never a good sign of a well run organization.
- everything must go as planned with no more hiccups just to get glasshouse production coming online by early 2020 and there are still many a slip betwixt the cup and the lip possibilities here in terms of challenges to complete this behemoth of a building.
- the chart can be viewed as the possibility of a double bottom forming although the weekly rsi is not yet close to the same level as the yearly low was, so unfortunately there is the possibility that the 52wk low will be broken and if so there may be an influx of additional selling.
my hopes are as follows:
-despite some pie in the sky blind long posts here, the bearish case on the board is very weighted, so the contrarian in me wonders if indeed a double bottom setup is in the cards.
- even if another pp is done to get the completed building to the finish line, snn will still relatively speaking, have an excellent share structure (one of the best in the industry to my knowledge) and will be producing in THE state of the art low cost production facility that will be the envy of most in the industry.
- hopefully holler has now weeded out the non or underperformers in mgt and has a much better team.
- the continued black market strength is a concern but lets not forget the mj industry in cali is more about the tourists than the locals and they are far less savvy to black mkt hookups for weed.
- the risk reward setup is really hard to ignore. Yes, in a low volume selloff if the 52wk low breaks there's the potential for a downdraft to the mid to low 2's but with the glasshouse nearing completion by Sept - Oct, it is hard to ignore the absolutely absurd valuation metrics here.
Just imo