RE:How did it reach $3 back in the dayIt was the run that occurred when Cannimed announced they were going to buy out NewStrike. That was before HIP had any money, a license, facilities etc... AND BEFORE LEGALIZATION now we are trading right around the same level as BEFORE all that happened.. anyhow, if you Google Cannimed Newstrike Deal you should find some of the old articles.
After Aurora bought out Cannimed NewStrike got something like $80 million in a break fee then the phone started ringing off the hook for Jay with banks calling to offer financing. Jay actually talks about that whole situation in a couple of his YouTube interviews (also something you should take the time to go through).
Since all that occured HIP has greatly expanded their production capacity and made supply agreements with 7 provinces, they also have a supply agreement in place for medical. Some of the key players from Cannimed jumped ship after ACB bought them and started their own company and now came back to sign another agreement with HIP.. PLUS, HIP is working to go to market in Oct with a CBD infused drink. HIP also has an agreement with Inner Spirit Holdings (they are cross invested in each other) which is opening retiail stores across Canada and selling HIP product.
What is really great is that due to them getting all that money on the contract break from Cannimed they have virtually no debt. If you check their financial ranking (I use RBC) they are actually ranked in a better financial state than ACB or WEED
Long story short... NewStrike is trading close to the levels it was BEFORE everything was in place and BEFORE a huge injection of CASH... something to ponder while everyone is watching the SP going up... and people wonder why I am bullish on NewStrike...
how many horses have I led to water... lol
Do you own DD
GLTA
Dealmaker wrote: What caused it to hit $3 back in the day?