APHA is overvalued, will resume shorting itWith a market cap of $1.7B (enterprise value ~$2.2 billion) and normalized annual revenues of about $400 mill, and continuing dilution, I think the share price isn't going anywhere anytime soon. Clearly, the overall growth rate for this sector is quite low and I suspect all the competitors will compete on price (OGI recently announced 12 "value" SKUs). I am now fairly hedged (long in one account and short in another using options). I will go net short beginning Monday.