OTCQB:VVCIF - Post by User
Comment by
LongTermWinneron Jul 09, 2020 7:13pm
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Post# 31248637
RE:RE:RE:RE:RE:RE:We are Professionals not Cowboys says CEO at last AGM !!!
RE:RE:RE:RE:RE:RE:We are Professionals not Cowboys says CEO at last AGM !!!I'm not apologizing for him. All I said was I don't understand the confusion about what he's doing. It wasn't "selling to drive the price down so they can buy more low" or anything like that. It was pretty simple - he had more shares than he knows what to do with, so he cashed out a small % of those shares at garbage prices.
Was it obnoxious for investors? Absolutely. Was it selling low? For sure. The guy is great at growing cannabis, probably doesn't know much about investing or running a publicly traded company, and was thinking that his preauthorized year of sales was a good idea probably thinking the price would magically go up while he's selling.
If you want to suggest that they overpaid for CannaFarms I won't argue. I just don't think LaFlamme gives two sh*ts about investors, and figured if he wants to sell a few million shares why not, they're his shares.
Hopefully it's in the rearview mirror now, and hopefully we can get some insider buys in the coming months to help reaffirm this turnaround story. Support has been holding up, good news has been piling up, EU-GMP license coming, 2.0 sales looking great, Shoppers Drug Mart agreement really exciting, Vertosa partnership a boost long term, etc etc. I've got a cost basis for 22 cents, so the downside risk seems pretty minimal considering the potential for growth ahead. Hopefully LaFlamme can stop being the company's #1 antagonist and stick to do what he does best - growing premium buds.
Good luck.