Don't Panic Sell....Zenabis Will StayI have posted the similar messages on HUGE board (please see my post history) this week when the stock was trading at it's all time low, around $ 4.40. Guess what..... there was a move in the share price on Thursday and the share price went up to $8.50 (HOD).
I completely understand what the longs are going through. We are all here to make money, however, I still understand the pain inflicted by being on the losing end of the trade, especillay when the lose is this deep. Please do not panic sell.... this will eventually go back up. You may not be able to recover all your mony but every penny it goes up will minimize our losses.
This is what I undewrstoood from the right offerings: Every 1 shares you hold as of October 31, will earn you a right. You can use 1.5 rights to buy a common share at 15 cents. Lets take Friday's closing price in consideration:
Lets say you own 1500 shares at .26 (I know many have high averags). This will earn you 1500 rights which will allow you to buy 1000 common shares at 15 cents.
Average:
.26x1500 = $390
.15X1000 = $ 150
Your average share price is .216 cents. Think about the logistics, this is not bad
considering that the company is projected to do $80 million in sales in 2019.
Please take a deep breath and reconsider your strategy before you hit the panic sell button.
Also, I believe this is done delibrately by the management. It is bad, however not as bad as it sounds at the current moment. They are diluting to the current shareholders rather than producing new shareholders.
They had to stop their ex CEO who was dumping his shares at the open market. The said CEO has 23 million more shares to dump, with the availabilty of 2.25 million every 19th of the month (I believe my DD is right, please do your own DD).
This will eventually go up. Please don't let the price slide to 15 cents just because you read this number. Please read the full details of the offering.
I hope we all have a less stressful weekend and week ahead of us!!
Stay Strong nad do your own due dilligence to make your decision!!