Better Days are coming...... Investor John Mastromattei, who says he acquired a six-figure stake in Aphria after the shares sank in December, thinks the offer as it stands is unlikely to appeal to most investors in the company.
"It's a low-ball offer," he said in an interview Wednesday, noting that Green Growth Brands is attempting to take over a company worth far more than it is, while spending very little in cash.
"They're trying to capitalize on the cheap share price by tricking investors into thinking this is the only option they have," he said. "The Green Growth shareholders get to own Aphria at a really bargain price."
More likely, Mastromattei says, is that another marijuana company will come in with a better offer, given the well-documented supply shortages that are plaguing the industry.
"They're all looking for more production right now," he said.