Basing
Technically, it's in the process of basing and under accumulation. It's one of the few MJ related stocks that "has something" in the way of a real product and sales.
Although the future is unknown, I think I would just buy and hold here, awaiting positive developments.
With regard to my previous comments on a raise, the present market environment is favorable for many raises and when announced, their respective stocks do not drop but go up. Presumably, the market sees the increased strenthening of the financial position (more cash in the treasury) as a positive now, not a negative. Interesting times.