Post by
BCStock on May 05, 2022 5:11pm
Maven Brands still there with plenty of shares
Checking in for a yearly peak at True Leaf/Maven whatever to see if any progress. The long term faithful shareholders have been rewarded by a 1 year return of -84% . Yup, one of the worst performances in all collapsing public cannabis ventures. No filings found covering anything that happened in 2022, other than an announcement rewarding the contract CFO and CEO with lots more shares for their super performance. Not sure how their attempts to sell off land assets on their floodplain has progressed, but those proceeds would be grabbed by the property mortgage holders anyways. Very sad situation for the local Lumby citizens who invested their hard-earned savings into this venture. With all salaried staff laid off in January 2022, I am not sure how this place is moving forward. The massive overproduction of cannabis and the over saturation of legal and illegal sales outlets is collapsing the "non-licenced" retail prices down below the $50/ounce mark, which is heading into non-profitability. No way Maven can pull their own margin from the little dope producers by acting as a middleman. Maybe Maven should just turn a new leaf and focus on the medical needs of senior citizens who are hesitant to shop at illegal non-licenced stores.