RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Share price valuation Sound reasoning Smash, and that's all I originally was trying to get across by posting original comment.
No financial info and it's 5 months since IPO. Further I can't find anywhere what the public share float is they have out, does anyone? That made it sketchy for me almost right out of the gate whether to stay in or bail with a nice profit, easy choice the more DD I did, further beware the Venture exchange at the best of times, it is full of shady companies, looking for suckers, here today, gone tomorrow.
So, let's have a quick look at the CEO, who looks and talks like a used car salesman. I don't have the full insiders history but anyone can go to canadianinsider.com and look at 6 months for free where one can find that Pat Morris CEO has sold 30k shares in the last month to the tune of over 90k off a 7500 stake at .25 a piece.
Uglier again Robert Kang Director of Investment for EATS has sold 90K shares in the public market in the last 2 months for a tidy return of 210K on a 20k stake not bad., who needs to work with a gig like this lol.
Hardly a confidence builder for an investor wanting to take this company seriously.
Look at the signing of their most recent partner Plant Power Fast Food, lol, fast food, 7 outlets and a food truck in California, a FOOD truck, okay that signing should instill a lifetime of confidence for any investor researching the company looking to invest... ......not.
Like I suggested smoke and mirrors, if you made money on the run-up guard that profit carefully if still invested and green, then go looking at all the similar sector plant based food companies that became public about the same time these guys did. All big runs from the initial IPO, and all backing off, but likely better off on retrace.
The only legit company in the fold is The Very Good Food Co, and they ARE a public company, seems to me if you believe the plant based food industry's growth potential and it being the wave of the future, then wouldn't it make sense to buy this company's shares for a longer term investment not some possibly quick buck artists with a ponzi scheme built on a house of cards? MInimal investment in the company in return for offering them more exposure.
Good for Very Good until they no longer need this type of exposure and that's likely coming sooner than later, IMO.
Hey, new listing IPO's are always fun and you can make a decent profit on most of them if in on the opening run up. That's how I came across this one and road the wave till it showed weakness and got out.
I personally believe in plant based food, my wife has a degree in food sciences with a naturopathic bias after being a food caterer etc. most of her adult business life. I further believe it is the wave of the future, so after getting my feet wet with EATS and doing some serious DD into the plant based food industry, I have found a number of companies in for the long haul but for me more so at the grass roots.
I listed the top ones here earlier and found one in particular Burcon Biosciences at a share price range I am comfortable with. After building multi time frame charts I see great opportunity in it and have begun to buy a little at a time on dips. Toppy now so there is better opportunity I believe, to expand the stake at better prices as it establishes a new floor of support.
Why you ask? Well here are the list of credits for a real plant based company ground floor.
20+ years experience in plant protein extraction
282 protein extraction patents
Partnered with JV Merit Functional Foods for a new 100,000 sq. ft. processing facility (almost completed) to service it's recently signed big agreement with Nestle, the world's largest food and beverage company, to supply them all their plant based proteins, pea and now canola proteins, as Nestle expands it's plant based food and beverage product lines.
And finally listed on the TSX and Nasdaq OTC board.
Simply no contest, and again I have no stake to promote BU.T or BUROF, but certainly will going forward.
My example offered for doing due diligence no matter what you look to invest in.
For novices that come to stockhouse looking for advice or opinion:
Short term trades, do your homework, make the buy, set the target and sell if and when it gets there and don't look back, because tomorrow is another day and there's hundreds and hundreds of companies out there to choose from.
For long term trades, look for strong fundamentals, this is key research, a must to hopefully be sure, or stick to blue chip stocks with a proven history only.
No rocket science just good basic common sense.
Good luck and cheers.