I first bought ACB in Dec 2016 at $2.08....I bought into ACB because I had high hopes for this new industry. I really thought that this was the new green gold rush....and financially, especially in 2016/17&18, it was. I bought and sold many times and I am very thankful to have made some really nice gains back in the green rush. Very thankful.
I am also personally very familiar with MJ, and I have been a regular daily user of it for many years now, and truly know all the benefits it has to offer me. I love it, and will continue to use it daily for the rest of my life.....so naturally, I thought that if I loved the product so much, well then certainly other people will love it as well....and sure enough, many do. There is no question that it is very popular for a multitude of reasons. Thats all good and fine. MJ is here to stay, and I think that is a wonderful thing.
I also liked ACBs business model and was with them almost every step of the way. I say "almost" because I did NOT support the Cannimed deal, nor did I support the Medrelief deal.....only because as a corporate lawyer for Canadas second largest grocery chain, it was easy for me, (and the vast majority of my colleagues) to see that the price being paid for those two aquisitions was simply too high....but that is a whole other story. I still happily continued to support ACB as this was a brand new industry. Completely new territory.
I was very patient with ACB and let all the milestones that they promised would bring us great fortunes come to fruition.I accepted the heavy dillution as a nessesary evil etc etc.I was in for the perverbial long-haul.
As anyone can see from my posting history, that I NEVER bashed ACB, not one time, and actually spent a lot of time defending them and their/my vision.
Fast forward to nearly ALL 2019 financials for all LPs and it is as clear as crystal that the Canadian/International markets are simply not as big as I, and many others, had thought it would be...not by a long shot. Yes, it is still a young industry, and yes it will take time to work through the growing pains and so on, but almost every MJ company is now in the same boat...showing massive losses, slowing growth, and shrinking margins.
In the world of corporate finance, that is the Trifecta Of Death.
Folks, the numbers are simply not there. I am fully aware of the challenges we have faced and continue to face as an industry, and it would be easy to point fingers at everything and everyone as to WHY the rollout lacked, the overblown vaping crisis, heavy Government restrictions and so on, but facts are facts.
Many of us were simply wrong.