RE:Looks like I was right not even a week ago. Mismanagement!Here are my summary thoughts posted to Twitter this morning on the company's financing:
https://twitter.com/rubiconcapital_/status/1116706641359937537
I would just encourage all to remember that stocks are not baseball cards. They are fractional ownership stakes in real businesses, and as far as I can tell, nothing has changed with the underlying business of Zenabis; its just gotten cheaper.
I think 'fundamentalinvestor' on this board made a good comment earlier. I'm paraphrashing here, but essentially they pointed out that many companies in the cannabis space are masters at capital markets and stock promotion, but their ability to execute operationally remains an open question. In the case of Zenabis, management may have needed to learn some lessons with capital markets (who knows what really happened), but here we can have a degree of confidence that management actually has a valuable underlying business with the ability to execute and the track record to prove it (see my previous research on Bevo on Seeking Alpha).
Have a nice weekend everyone.