RE:RE:RE:RE:MJ sector premarket is on a tear....Canuck30 - (2/10/2021 9:48:56 AM)
RE:RE:RE:MJ sector premarket is on a tear.... If they let this ride for a few more weeks, they would've have issued less shares to get the $15 million. Totally inept management. Killed the entire momentum. This thing hit .175 while everything is up substantially.
Hate to rub it in - but Sundial is up .65 cents today. (hello reddit).
I'm wondering why they went with this ATM vs a standard type financing - and my guess is that they would have had to price the offering at a such a low share price - like .06 cents, to raise $15 million and the market research told them the interest just wasn't there to be able to do it.
So - they got a bit creative and went with the ATM - we all know they had to do something - and like I said, I really wonder how serious those merger talks were with another Canadian LP.
Why would they raise money if they are on the verge of a buyout or merger?
Unless there is some major, major event coming up - they may just end up selling the $15million at .06 cents anyway and issuing 200 million shares