RE:I cant think of a better canabis playOneWhoBlazes I absolutely agree with you. In the cannabis space is Zenabis is definitely one of the most undervalued stocks and with the greatest all round potential. I definitely would recommend it as the purchase with the greatest upside potential.
I always clearly stayed the the 0.15$ Rights Offering calls for courage when you take into consideration that most long-term retail investors were not considered when this initiative was put into place. I will not defend management's decision but I understand the rationale behind the move. It may have been a move to stave off an anticipated takeover. Or maybe it was to level the playing field as a former CEO was dumping his shares without regard to the retail investor. Nevertheless they will have extra cash in the kitty. What I do not want to hear in the next few months is the compensation committee giving management a fcuking increase. As the say in South Africa, if that happens management would need a good rhino pistle (I won't explain that to the board, figure it out yourselves).
They said that it was not dilutive in nature. That is utter bullsh!t. If everyone exercised their Rights it would not be dilutive from the perspective of % of shares owned but it was fcuking dilutive with the cash balance in my flicking account. Sometimes I wonder if the CEO was serious when he deemed it non-dilutive.
That being said the Rights Offering is a gold mine for those who overnparticipated. I purchased 9x my free Rights and already exercised. My average cost is really very low.
There are two ways to play this stock. One way is to bash it as low as possible and purchase on the open market without participating in the Rights Offering. That can be seen by the persistent bashing that is happening through the trading day. Those guys are desperate. They are creating multiple posting handles and trying to fan the flames of doubt and fear hoping that they can precipitate a major sell off.
The second way is to purchase ZENA.RT and exercise those Rights. Today is the last day for the lowly retail have to do so. But those savvy scamps have until tomorrow 27th November 5:00 Eastern Standard Time (because they are trading via their brokers on the Dark Pool).
No matter how it is played Zenabis is grossly undervalued and will quickly regain its true value.
This is a big play at its current price. Just saying!