TSXV:NDVA.H - Post by User
Comment by
davgroon Feb 23, 2023 3:42pm
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Post# 35301758
RE:RE:NDVA Hits Another 52-Week Low of C$ 0.08
RE:RE:NDVA Hits Another 52-Week Low of C$ 0.08QCINDIVALUVIN wrote: Isn't the cannabis act under review since september for up to 18 months? Thanks.
It is but that still leaves up to a year before any decisions are made in that regard. Knowing how the federal government works they will push their review right to the 18-month wire.
In the interim the whole cannabis sector is declining. Several smaller players have gone into bankruptcy recently and others are being bought out for pennies on the dollar. Discretionary spending is on the decline as is evident by year over year declines in cannabis revenue from most of the LPs in Canada.
I also worry that more LPs are getting into the edibles game which will inevitably take some market share away from NDVA. The black market for edibles in Canada is still thriving since they aren't governed by 10mg/package limits. The next earnings report from NDVA will be really telling for the share price after several disappointing quarterly reports.