RE:RE:I first bought ACB in Dec 2016 at $2.08....I agree with you Supermario.....this industry WILL continue to grow.
More and more people with start to discover the many benefits that THC/CBD have to offer. One day in the not so distant future, we will see CBD in common breakfast cereals....and hemp flooring and clothing etc. sold in Costco and Walmart. I also think that one day, MJ will be the number one prescribed medicine in the world. I believe it has and WILL continue to save many lives, and improve the quality of life for MILLIONS of people worldwide. That is truly awesome.
I do wholeheartedly believe in this plant and its future....which is why I will keep and hold the modest amount of shares that I still own in ACB. I also regularly suggest to all my family and friends to keep some ACB/CGC shares in their portfolio for the future.
But as for short to medium term gains, I simply do not see any rush to "load up the truck", because all signs and metrics point to more downside.
Supermariog wrote: Legalleafs May I partially agree with your post ? You are certainly very right short term. I'm still wondering if it will still be true when medical/INDUSTRIAL CBD (we are the largest in Europe) and few DIN's numbers (Drug Identification Number - means prescribed by doctors) plus few gummies :-) get into calculations. If I think that in 5 years from now (let's say 7 years after the end of prohibition) I could get ten times the money even let's say 5 times. Any better place to park retirement money ? When GW Pharma got the first DIN, shares got up $ 25 in a day if my memory doesn't lie. GLTA SM
legaleafs wrote: 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.