True Story - Prophet, Dust Pan and a Bag of Worthless SharesSampic, I wouldn't bother wasting your time trying to reason with TheIdiotElijah. He has made one of the worst investor mistakes and fallen in love with a stock. He is so far underwater on his cost base that he holds out any hope of the stock price going up while the stock continues to fall in price.
He became a Vibe shareholder through his sizable holdings in Ventura Cannabis (VCAN) when Vibe bought their assets at pennies on the dollar. By his own addmission he owned 200K+ shares of VCAN before the transaction and took a major haircut when Vibe bought them out. The ACB of his Vibe shares after the transaction were around CAD $ 0.85. He is probably down 90% from his original VCAN purchases and continues to endlessly pump the stock in hopes it will appreciate.
After the transaction the shares rose to $1.45 in April 2021. I was a VCAN shareholder and sold all my VIBE shares between $1.10 and $1.40. I told members on the board they should sell but the Prophet kept touting the shares were underpriced and would reach $5 by Xmas. Many relied on him and Beacon Securities ridiculous target of $ 2.60 and are still holding.
Now they are all sitting holding a big bag of worthless shares. The Dust Pan has been catching the falling knife all the way down buying in the 60s, 50s and just this week at 0.295. They are both delusional about the value of this stock and the company's potential.
Save your energy and post elsewhere where your opinions will not fall on deaf ears. I left this board many months ago but decided to revisit today when I saw that Vibe hit another 52-week low of 0.28.
I have enjoyed reading your posts and its refreshing to see that there are investors out there who really understand the cannabis sector. Good luck.