Not to Andrew: Why this stock tanked.... Is this bearish or what? "blah, blah we can't grow properly in new rooms, blah, blah "
Andrew Grieve, chief executive officer of Zenabis, stated: ...Our performance ratio decreased month over month as a result of the significant number of harvests from newly licensed rooms in the month (five of the 10 harvests). The performance ratio for newly licensed rooms harvested in September was 14.2 per cent while the performance ratio for rooms that had previously been operated was 30.0 per cent. Although the variety of cultivation approaches and rapid scale-up at Zenabis Atholville continues to cause room-by-room variance, steady-state yields for each cultivar are expected in the near term, with general steady-state operations expected at Zenabis Atholville by the end of 2019.
CEOs have to be 100% truthfull but can't drown investors in bearish details.
Who is running IR at Zenabis??? Andrew, I'm no pro but something like this is what you need to tell investors:
"We are achieving excellent performance ratio in existing rooms and are working dilligently to ensure all the newly licensed rooms, up 100% from 5 to 10 in October 2019 alone, achieve the same efficiency as the number of harvests increases."
But really, now that you brought it up, can you explain what the problem really was?