RE:RE:Management buying back “undervalued” stock I may be wrong but I sense a tone of frustration & committment with the mj sector and with Rivers in your response to my post.
As perhaps the only pure/public mj venture capital company and with their close partnerhip with Canopy/Constellation, Rivers has unlimited potential. As Geographies continue to expand, consumer product verticals are expanded/rolled out, retail outlets are opened, science-based breakthroughs are identified, Rivers is especially well positioned and supported to take full advantage of this early stage industry.
In their news release, I would have liked to have seen specific references to the developments of their core group of investment partnerships. These companies had been carefully filtered from a couple of thousand presentations to be the best in their field-LeafLink, TerrAscend....
For Rivers to make this positive statement, to commit to repurchase shares, while further expanding their business model speaks volumes about their current confidence and future success. However, trading in the week since their announcement, to me suggests, that if management is going to blow its horn, blow it loudly enough for the message to be better heard, understood and reacted to. Still very long Canopy & Rivers. GLTA
The NCIB reflects management's position that the current share price does not reflect the Company's underlying value and future prospects.
"With our strong cash position, launching the NCIB gives us the flexibility to purchase back our stock," said Narb Alexandrian, President & CEO, Canopy Rivers. "However, we continue to have a robust deal pipeline and maintain our focus on making investments that we believe will generate value for our shareholders."