RE:RE:RE:RE:RE:RE:The big reveal is a DUD!! Jupiter: hindsight is always 20/20, the governance in most penny stocks has been questionable, m sure you will agree on that, the insiders are involved personally in pump and dump. Insiders buying doesn't mean anything coz they buy symbolically to induce the retail into buying and then start dumping. This has been don't over and over by most penny stock promoters.
the track record of Monty sikka, Andrew grieve and a few other chaps is also very murky. I don't say zenabis is the only odd one out, there are many more out there currently trying new ways to trap new investors.
zenabis has good production facilities, a brand name and the new ceo will bring in a few breath of ideas and discipline hopefully. As always we have seen it that cannabis stocks are only good when traded before or after earnings, dump before earnings and buy after a few weeks of earnings when the fizz is out. Look at ogi, aphria, canopy growth , canopy rivers, tgod and see each of those have bled over 30-40% from pre earnings.
being a penny and weak on balance sheet cash, arbitration dispute pending with Tilray, zenabis still needs another round of price shaving by 20-30% and add in the selling momentum we will see price around 7 cents +/-
what can contain the sell out is if they put out a press release on the drinks by Monday and some numbers to back it up, also the sale of BC asset will help the price and support around these levels, else I see this slow bleed to the 52 week lows for the next few weeks
how the market responds in the next few days/ weeks is anybody's guess but holding a debt laden co with increasing cost of production, decreasing selling price and contractual dispute with one of its biggest client and substantial payment obligations before end of the year is just not a wise hold
gamble if you need to at 7 cents not at 10-11 cents range, there is much downside yet
GLTA