PINL:HERTF - Post by User
Post by
HotGarbageon Dec 15, 2019 10:33pm
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Post# 30457899
Here's why I still like CANN
Here's why I still like CANN
I've been holding this stock since it was called Umbral Energy, and like a fool I doubled my position after the ticker change when it was was trading at $0.69. That move brought my average cost to 28 cents, and I've added to my position again at 51 cents and twice at 41 cents. Recently bought some at 25 and 26 cents to bring my avg cost to $0.30.
I'm still long on this stock for one main reason:
Total Assets: $81 mm
Total Liabilities: $4.88 mm
Yes, they may be burning cash, but they have enough to weather two more quarters before they need to think about selling any of their investments. And by that time, they should have a steady revenue stream from their deal with CRON to keep them afloat until other big deals can be signed.
I suspected this would be a good company when they switched their focus to extraction at a time when all the other companies were overextending themselves in the sq. ft. race. Hopefully, I'm proven right in the long run. Would love to see this company hit 70 cents again, and I think it realistically could by the end of 2020.