Hi folks, long time lurker, had to register to share my thoughts after being disgusted by how a shareholder like myself has been treated by OrganiGram. First the news of recall 5 minutes before the long weekend shocked me, classic horrible tactic. Then a 1 paragraph news of additional recalls, but they can write 5 paragraphs about buying a parking lot and hiring some random new guy? huh?
Also spending countless dollars suddenly on all kinds of cheap tacky stock promotion articles, you dont see the big boys doing this and for a reason - it looks cheap and desparate.
Also, the CEO was buying up all those shares merely because nobody else would and he had to hold the stock price up and hope people will follow him blindly saying wow insider is buying, well hes buying to not collapse the price LOL not for any other reason in my opinion, also how he was using the fact he bought shares as a selling point in his Cannacord presentation. Other people quietly buy insider shares, he goes touting it that shows why he did it.
The final bullet in the coffin was not being told Ecocert took away the organic certification weeks back, only to hear it from CBC news after which the company conveniently included it in the last paragraph of yesterdays news release. When I emailed the IR, she responded that they didn't feel "obligated to share the info" regarding the certification however they removed it from the website without telling anyone. Is this even legal guys? Is this not a material change?
Awful, simply awful. Glad to take my money out of this and into the larger players.
I can't imagine why anyone would bother buying Organigram now, they aren't even growing organic anymore which means their process of organic failed, they used pesticides, they were caught and now they are just officially growing pesticide aka non organic weed. Just my 2 cents
If anyone recommends me to buy this company now, the first thought that occurs to me is this guy must be bagholding the stock at a higher price because nobody else in their right mind could think to buy this mediocre company with so many red flags, potential lawsuit incoming, lots of recall losses, low client numbers (CBC said less than 4000 clients in almost 3 years, awful)
I took my money and put it divided between ACB WEED and APH and am feeling much better not having to care what this management team does anymore or what next bad news and gap down will occur
Dont gamble by buying here, look what these ex employees and clients are saying online
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