TSXV:NDVA.H - Post by User
Post by
davgroon Jun 07, 2023 3:22pm
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Post# 35485053
NDVA Hits Another New 52-Week Low of C$ 0.03
NDVA Hits Another New 52-Week Low of C$ 0.03 Rumour on the street is that Indiva was suffering cashflow issues and having trouble paying Wana royalties which necessitated the sale of 20% of the company to WEED at bargain basement pricing. These same rumours mention that manufacturing issues with the new equipment still exist. It appears that the market is acting on these rumours even if they may be unfounded.
I suspect that the company will eventually be purchased in its entirety by Canopy for pennies or be forced into CCAA protection. This is dead money as anticipated changes in Federal edible concentration regulation doesn't seem to be on the current government's radar and company cash burn will continue over the coming quarters if cashflow remains negative.
Be cautious if you are considering starting a new NDVA position or adding to your current holdings. Dumpster 340 will continue to try and convince you what a bargain NDVA is at the current price since he is holding a huge bag of shares he would like you to buy. Keep in mind that the whole pot sector is burning and new 52-week lows are being set everyday.
Fire and Flower just filed for CCAA protection and you will see more consolidation and/or CCAA filings in the sector shortly. Indiva is not immune to the collateral damage happening all around it.