My Insights on ZenabisA few insights I wanted to share about my Zenabis holdings and what gives me confidence to keep holding it over the next 90 days in anticipation of a min price range of 25-30 cents and an ambitious target of 50 cents + based on the momentum formed when 25cent price is achieved.
-When Zenabis vetted the CEO for the role, the former President of Mc Cain would also have made sure the co has enough resources to survive the turbulent pandemic times, this is a plus. Altman is joining on Sept 1 and as a CEO, he would do his groundwork before he joins and has a blue print of how he wants to steer zenabis into the crowded canadian cannabis landscape.
-Over 23 million raised at 13 cents and I am of the opinion that warrants at 16 cents and broker warrants will also be used to raise additional capital
-The launch of drinks and edibles is another 5-10 cents gain in the next 90 days frame window.
-Selection of kamala Harris as Biden's running made for Nov 3,2020. This would be good coz she fully supports legalisation and would be an imp catalyst.
-The quarterly result should be good in terms of both domestic and international revenue and cash burn would be less than the previous quarter. EBITDA positive in next 2 quarters.
I hold a lot of shares of Zenabis currently and will hold it till after Nov elections. I always go with a plan of my entry buying price and target selling price along with the time frame.
At current 12 cents, I am quite confident 100%ROI is very much possible. As said earlier we need a 40% day followed by a couple of momentum days.
My decision to hold and keep invested in Zenabis is based on the assumptions as discussed above, hope it helps.