Hi1Hornet's last post explained quite a bit. I put in a sell order on my ZENA holdings at 5.00$ That will make some shares unavailable.
At the current price Zenabis is a steal. I hazard a guess on any particular reason but manipulation as described by 1Hornet may be the main reason. The Dark Hole (ATS n Alternate Trading System) do present some challenges. Masking trades by insiders and downright manipulation by approved day traders.
No doubt the cannabis sector is speculative in nature. Imagine the likes of Canopy, Aurora trading at seemingly huge discounts also. Maybe Ontario's lethargic rollout by premiere Ford shook investors confidence. He even started to talk like the Orange Dotard down south. That is what happens when Pharts come to hold power. Luckily Ford has changed his operational style and Ontario is going to open up the cannabis retail sector.
When Alimentation Couche-Tard ventured into the cannabis space by investing in Fire & Flower it signaled the landscape change that will happen in the cannabis space: see link for explanation
https://globalnews.ca/news/5921365/quebec-couche-tard-cannabis-sales/
What happened after that investment. Ontario mayors who previously rejected the idea of cannabis stores approached Queens Park to ask for cannabis stores. Those mayors wanted to be in on the action ($$$ from the Feds). As administrators they knew that something was changing. And the flicking management of Zenabis was certainly aware, as insiders with lobbists, they offered a "give away" Rights Offering at 0.15$ to beaten down retail investors.
Many of the longsuffering retail investors were shaken by the price drop that accompanied the Rights Offering. Many sold and ran for the hills licking their wounds. I know that is what happened by the amount of ZENA.RT that I purchased. Those guys sold to me (but mainly to the "insiders" who flicking knew what was happening.
Everybody on this board knows that Loblaws is going to do the same thing that Couche-Tard did. They are going to enter the cannabis space. With whom? They are in negotiations with Zenabis, WeedMD, DeltaNine and one other company.
Because of current depressed prices (forced upon us by MANAGEMENT) I believe that it may very well be Zenabis. I expect that early in the new year we will get NR stating a relationship with Loblaws/Shoppers Drug Mart. I expect the price to quickly leap to 1.00$ and updates.