RE:Don't get what seriously changedNo due dilligence needs to be done because the syndicates just sell to dumb retail investors. And seriously... were talking about Eight Capital... must I say more?
Namaste will be the Dryships of weed. If you dont know what Dryships is... go google it.
Tread lightly ppl because this one will be a doozy
DEL2YEG wrote: I am not getting what really changed here. I was more concerned and sold at about 3.60 when I finally realized that the upswing is done here and this company won't be able to get any inventory with the cash they are holding and sensed that they will do an equity raise.
With 40mil cash in hand, how much do you think they would have spent on inventory? Do you think 40 mil would have been sufficient once those patients start to order from Cannmart? They needed cash to buy and have a decent inventory in hand. This equity raise will help them with that. It's actually accretive to the company's strategy. I was more worried before than now. I am going to wait though to reinitiate a position.
Also, think about their capability to get a bought deal done at $3, the subscribers to this deal must have done their own due diligence as well and they are not gonna lend 50 mil to a company where they don't see a return. Guys, understand the fundamentals and stock picking will become easier.