Notice
Notice how the chatter on the board is over a totally immaterial and nonsensical item like the Hope facility. I mean, fine, liquidate if it's not being used but honestly, I don't much care, not even a little. Will it help with operating costs, sure, but this kind of decision is what you'd expect ANY mature leadership team to make so really, again, who cares.
What everyone should be focusing on is SP and why it isn't moving and what leadership should be doing to make it move. A share buyback is the only meaningful immediate term thing they could do to make existing shareholders very happy while at the same time announcing that this business is the real deal and ready to make hay. Keeping the power dry for another aquisition is NOT what this business needs right now. If we're shuttering a GMP plant in BC, capacity is clearly not an issue. So the effort would be about buying revenue, which is fine, but this business isn't mature enough yet. Wanna be Biovail, I'm good with that, but the SP needs to appreciate and immediately for this team to continue to have my trust.
I don't expect LABS to follows necessarily with the ebbs and flows of the sector, but I do expect it to slowly sawtooth itself up over time, like the dumpster fire Canopy has been able to do. If they can, why not LABS?