RE:RE:RE:News PredictionThe reason I posted $2.38 USD is that the magic number is $1.00 USD to remain on Nasdaq.
So yes, $3.28 CDN may sound better - but CDN doesnt really matter as the reason for the r/s would be to mainatin the Nasdaq listing and the sp only has to drop $1.38 IUSD to get back down to the minimum $1.00 listing requirement.
Cannabis 'nws' around the election may have some lasting impact some US cannabis stocks - the SAFE Bank Act for example - but with the election only 3 weeks away, it seems unliekly that much will be in eitehr House until after the election.
Hexo will get NO lasting benefit from something like SAFE - and after they report their disaster Q4/year end financials - only longs and
shorts will be buying Hexo
Rotaluceps - (10/20/2022 9:51:27 PM)
RE:RE:News Prediction
Keeler wrote:Year end financials are required to be field 90 days after year end (which is Jul 31/22 for Hexo) - so end of October (probably Friday Oct 28 after markets close).
Quarterly financials are 45 days after end of quarter (for Hexo, mid-December)
Sharehodler voted to approve up to a 14-1 reverse split, if Hexo stiks with that - it'll be the max of 14-1 as there's no point in doing an 8-1 or 10-1. THAT SAID, I've posted that it shouldn't surprise anyone if Hexo fidns a way to increase the r/s to something higher such as 20-1 without going to teh sharehodlers for approval.
It also quite likely that Hexo will NOT proceed with a reverse split at all - because it serves little purpose and gets Hexo nothing more than a bit more breathing room and continued Nasdaq listing. A 1401 reverse split on the current USD share price of .17 cents is only $2.38 - and that will be back to under a $1.00 in a short time.
Duster340 - (10/20/2022 10:07:54 AM)
News Prediction
end of year Q4 financials due out mid november 3 weeks from now. the band-aide will be pulled off, the long dreaded reverse split will be announced. i am thinking atleast a 10:1 split up to 20:1. when the stock resumes trading that is when the pain will begin, the stock will quickly lose close to half of it's new value. i have seen this happen a few times before, the latest was with TV mining it lost half of it's value after a reverse split. this is what happens to bad companies.
glta
Good point about the $2.38 US but $3.28 CAN psychologically looks better. I wouldn't bet if there is a R/S or not. Another POV is the news, the election and all the pumping about some cannabis laws that will lead to nothing for a long time but that will move the market.
One problem is the QR will be before the election which will lower the share price, but the news "will" keep Hexo and the sector alive. I consider the very big volume of Hexo and I don't think that Hexo will be at $1.00 anytime soon. The "after the election" news, and speech from politicians will put a lot of pumping.
Another point to consider is that the management will extend their pay check.