RE:A moment of Reality on the Numbers hereYour thought process has many valid points. I would say that this sector still doesn't and won't in the intermediate term, trade on fundamentals. None of the top 20 MJ firms trade on fundamentals and their PEs are off the charts.
Also, with the growth in distribution they've announced, the jury is out, but they could be doing reasonable growth on the non-alcohol beverage side. The speculation as to whether they have something the market wants is reasonable. What we do know is that their drinks are tasty (ie: award worthy), the company is credible (associations with big charities / orgs), and they have chosen an industry in non-alcoholic beverages that is growing and will continue to grow...there is a macro trend here.
The final point is the canabis infused side of their business which admittedly is what has got many of us interested in the company given the wider mania. There is much that needs to be seen in the next months and into late next year on that front. They do have the right pieces of the puzzle with partnership with LXX and products to go; and labeling / co-packing for others. So feels reasonable.
Will the SP decline further...certainly on low volume and tax loss selling, the MMs can walk this down. Something I would hate to see, but I begrudgingly accept in the absence of retail buying and interest of consequence.
At the end of the day, I sure wish I had invested differently here as I'd much rather be speculating on this stock at .17 as opposed to having bought in the .40s, .30s and .20s. My cost basis is still pretty terrible, but heck, some folks are down 25% on AAPL right now in just a month of trading.
GLTA.