Walking Away from OGII am no longer considering myself an OGI investor. I am walking away and here is why:
First off, how is OGI suppose to compete with the scales of production of their biggest competitors, in addition to the number of their competitors with a similar scale? The way things are expanding, they may do well in the first year, but after that I can't see them maintaining momentum when they barely have any going into rec.
Second, I've been waiting forever for a news release from OGI, but its clear that any news release at this point is negligible. Look at Aurora, they announced a 1.5 million sq ft facility in addition to another 2 million sq ft facilities. Aurora's stock barely moved. Wtf is OGI going to release that will make their stock move?
One of the reasons I liked this company is that they seemed to be good with their money. They had bad press, but they weren't buying inflated companies and keeping value in their stock. The problem was they weren't adding any value either. And now with the interest they are paying on this loan...given the history of their revenues? Sure their production is increasing, but to be honest, I am not convinced they can attract customers to sell to, their executive resigning at such a crucial moment is a clear sign of mismanagement and frustration, the lack of expansion anywhere else but their home province....
The truth is the only thing that's moved OGI's stock has been sector momentum. When the sector starts to sort out winners and losers, my gut tells me OGI is going to get burned.
And another honest point, its been greed that's kept me here. Greed that OGI will alas release news and the sector will embrace OGI with open arms. But given the news among other companies and the lack of momentum it provides, I have come to believe that an OGI news release is just too late...
Last major point, I've always found my original plans to be most sensible and the original plan I had when even entering this sector was to sell before legalization actually unfolded because the speculative bubble will burst. I don't want to be here when that happens.
So, that all said, I wish all the bulls luck. The sector will surely do the heavy lifting. F*ck OGI.