RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Misleading news releaseRandomtask. So funny. The Grit Capital arranged dog and pony show. I'm on it. Several foxes in the hen house on this trip. Companies should do a better job screening. Didn't bother with the PCLO show as a freind took care of that and saw or heard nothing to remotely justify the valuation vs lots of U.S companies with decent cash positions that will have $200- $500 MM in sales in 2020 and are trading at massively better valuations than crappy PCLO. The market these days is all about cash remaining as there are no sources of funding that are not hugely egregious. Only the very best companies with lots of cash will survive and PCLO is not one of them.
If you want a tip then the best company out there valuation wise and with $80 MM cash plus a nice stake in Origin House / Cresco Lans is a company called Jushi. Its trading at a valuation of nearly 70% cash and .6 x next years sales. Why would anyone want to own a massively overvalued company that is years away from any revenues such as PCLO when there are gems like this available. Cresco Labs, GTII, Cura, Cronos , are also cashed up and very cheap. The current perception out there is to short overvalued companies short on cash and with no forseeable meaninful revenues such as PCLO and pair it up with longs such as Jushi or Creco Labs, etc.
Later.....got to head to the airport in a few hours to come home.