RE:RE:CIBC supportoats wrote: Ciao,
Yes, there really are people out there who understand what Ceapro is doing and are willing to vote with their wallet.
Too many people on this board who only have their eye on the daily stock price and are not looking at the big picture, which is huge. No, instead, many are looking to get that $.10 increase and then move onto their ridiculously overvalued pot stock.
For those who are convinced that Ceapro should have jumped into the MJ mix, all you have to do is read the comments from the banks and understand why they don't want to get involved. I think one of them put it best when they stated that based on current pot stock valuations, the number of recreational users in Canada would have to grow in the neighborhood of 5000 to 10000 times.
Gilles Gagnon never said that he would not get into this sector. He indicated that when the time is right...........................that is when 75% of current pot stock mania companies go bankrupt and the much needed consolidation takes place, he will take it sericously.
Yes, people are definately willing to vote with their wallets. Thus the share price is down over 80% in the last 2.5 years.
I'm not sure who is looking only at the daily stock price (yes Ciao opened the thread regarding today's price, but this is not the only thing he looks at). However, there are investors looking at the company's failure to meet expectations over the past couple years, which has resulted in an long term steep decline in share price.
Current potential overvaluation of other pot stocks is completely irrelevant to whether or not CZO should have gotten involved in extraction. If the company is the best at extraction as the CEO claimed, CZO could have added a very profitable revenue stream (which if nothing else could have been used to help fund future R&D on existing long term projects). If CZO had started this earlier and the share price had risen 1,000% when in reality it should have only risen like 300%, this in no way harms the company itself (it just would make it a bad investment for future investors at that point in time).
Why would Gilles wait for consolidation in the industry? They supposedly are already the best at extraction. Why would they need to buy out another company? If consolidation does happen, it will be the well run established players who benefit, not CZO.