TSXV:EAST.H - Post by User
Comment by
Steve888on Nov 10, 2019 4:38pm
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Post# 30333385
RE:RE:RE:RE:RE:accumulation at 0,04$...
RE:RE:RE:RE:RE:accumulation at 0,04$...Riskit, excellent points in your comments and agree. As you said, “a huge runway in terms of growth, and at 4 cents it's a steal.” Thinking to buy more at 4-4.5 cents and hold for multi-bagger as you said. Thank you. Next few weeks could be very interesting/exciting.
Riskitbiscuit wrote: A lot of weak hands folding and a lot of shares being accumulated in the hands of people I am hoping will hold for the long run. I am one of them and have been averaging down quite a bit since 10 cents. Personally I did not think we would see 2 cents but I'm glad we did since I got more cheap shares along the way. Share price aside the story has not changed. The company has a significant and growing footprint in regards to its distribution agreements and partnerships. Financials have been steadily increasing quarter over quarter and CBD sales, which are the main aspect of the business, are not even on the books yet. This company has a very large runway in terms of its future growth. The pace of that growth will depend on regulations. IMHO the growth prospects strongly outweigh the opportunity cost of having money locked up in this company, even if it ends up taking time for the government and the market sort things out. The same goes for the company's finances. East is low on cash at the moment and it could take another quarter or two of U.S. sales to turn a profit. Personally I would prefer not to see another capital raise, even if it means that things slow down or don't progress as quickly. I have a feeling that a lack of cash is stalling their JV in Canada. All this taken into account, not much has changed in my opinion of the company. I bought shares with the intention I would be holding until at least a dollar, perhaps longer if I did not find a reason to sell. It's a good company with a significant footprint in the health and wellness industry, a huge runway in terms of growth, and at 4 cents it's a steal. My advice, for what it's worth, buy in now and sit on your hands for a year or two. You will get your multi-bagger.