GREY:BZAMF - Post by User
Comment by
flush777on Nov 05, 2019 4:11pm
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Post# 30312294
RE:Who in his/her right mind is selling at $1.06?
RE:Who in his/her right mind is selling at $1.06?There is no money available (or maybe next to no money ...) for the cannabis or energy sectors. The bubble has burst regretably and the inability of the startup industry to make even meagre profits.
This has all been written extensively in pro-business investment articles and regretably, TGOD is the poster child of the cannabis bubble ...
We have the same pattern with PGF or Pengrowth Energy which did a formal sales process several months ago when the stock was 71 cents and just a day or two ago, the stock had slid to 20 cents and on the announcement of a deal which is at 5 cents, or a further immediate decline of 75% ... and here was the explanation by the PGF Board of Directors ...
Despite the discount this transaction represents to Pengrowth's recent trading price, we strongly recommend our stakeholders support the arrangement agreement as it represents the most attractive alternative for all stakeholders given the current environment where there is essentially no access to capital for the company or participants in the Canadian oil and gas industry in general."