RE:RE:RE:Stock price opinions by end of year 2020?I'm just dumbfounded as to why the sp is still dropping. I've been holding and buying for the last two years, impressed with all the progress and products and news of things still to come, all while rationalizing the declining sp and confident of the bounce back, but I can't make sense of it anymore and after reading the article Shooter shared, it felt like it had WEEDMD written all over it.
Honestly, I haven't been too impressed with upper management, and I'm wondering if they don't have someone on the inside doing the same thing as this guy did. A majority of staff and management with WEEDMD could be 100% ignorant to the fact that this is even going on.
What else explains dropping 90% of value all while making significant strides? I understand the sector components, but 90% just doesn't make sense...
These are all from the article.....
While one hand is offering up private placement money, the other hand is shorting the same company by a far greater amount (even in Canada that is illegal).
Kassam and Spears used naked shorting techniques, convertible debt and share loan agreements to make this short strategy worked.
They completely destroyed Zenabis, taking it from a $950-million market cap company all the way down to around $50 million over dinner and drinks.
They sought “friendly financing” from giant Tilray, which had also been the victim of an Anson Funds scheme (which failed). They asked Tilray for help in fending off Kassam. At the time, that “friendly financing” was referred to as “non-dilutive financing” ($30 million) in the form of a supply agreement.
He basically has these structures to hide short positions or take the fall in the event something goes wrong.