RE:RE:RE:RE:Unwarranted Drop In SP Sad to say the stock market does not always make sense, or dollars for that matter :-)
In my opinion we got spanked today for a couple of reasons, although our production and sales grew dramatically and more than expected, we lost money. In the minds of some that took away our profitable status and placed us in the group with the rest.
Last quarter most pot companies disappointed and we all paid the price and I think those worries were what knocked the stocks down prior to financials, same fears. Some dont look at the big picture of increased production, increased future product production and profits, they just look at the fact that we, like the other pot stocks did not show a profit this quarter.
But although the big loss in share price may not make sense to you and me and may not be deserved, in the stock market that does not always matter. Today we looked wounded and the shorts pounced on us. As soon as I read the quarter numbers this morning and saw a loss, I expected a big hit and we got it. They are like the hunters in the desert, when they see a wonded animal,it is food or in there case time to take us down as far as they can and make as much off of our loss as they can.
I like most took a big hit today, even the new shares I bought took a hit. I am fortunate in that I am only down dollar value of money I have made on this stock. In the past I have made more in one day than I was down today, and that is the way the market works.
Never expect to always be up or buy at the bottom, nor sell at the top for that matter and most important,
The share price is not real money until you sell, so if you dont sell you dont lose money.
Lets hope for a better day tomorrow and in the near future, best of fortune to all