RE:RE:RE:44 mil market cap with 40 million in cash investment?
Because of the hype then, and this is not just PUF but whole MJ sector in general. I said going forward, there'll be no more hype, just performance. Legalization is great, if they can take advantage of it, and clearly not. All the hype leading up to legalization was that there will be huge money to be made, and that was true. But need to have the goods to make money, hello? The good stuffs didn't even last a day and already sold out. I'm not even talking about the big guys but there were a lot of other hyped up companies that were talking about looking forward to legalization and then what? To say most were ill-prepared would be an understatement of the century or beyond. I can't think of anything this botched up in recent memory. Many are already overvalued to begin with and coupled with this botched up, forget about shorts, even I can smell what's cooking. And then you add in all the current events in the global stock markets, gotta ride it out.
As for PUF, was hoping the sector doing well to keep it where it was as it's latecomer but too bad. I thought the whole PSC will be ready a lot sooner but I was wrong. Or maybe I was just hoping as I've seen how it took Autora to build its Sky greenhouse.
Investing in PUF is investing for potential. I've made it clear in my post comparing it to BE. If not, sell and buy something else. It doesn't generate revenue at the moment. Even anything good from AAA will take time.
PUF management needs to use this span of time to plan for what's ahead. Seeing the whole sector bleeding, good NRs here and there may help but will be a waste in the end. Just look at MTEC for example. Spitting out like crazy and still keep falling. Don't make any stupid decision based on the SP right now.
I held when it dropped to around .40 so this is not the end of the world. I expected rough ride. I'm on the sideline for now and will add when I hear more about Phase I completion.