Newstrike Brands Ltd NWKRF

Buying Opportunity in HIP

[TopMJplays]

I will say this but it needs comfirmation through a house position list.  If this was indeed a cross, which it looks like it was, it is very likely the CMED shares being crossed to a willing buyer.  The discount (@$0.91) is likely what the buyer was asking for to take such a large position.  I'm curious who would take so many shares in one shot, an interested buyer or future takeover?

If management is smart, and I think they are, there will be an announcement shortly saying that CMED/ACB is now out of the company (or it may come from ACB directly to say they've raised cash through a divestiture).  

So in fact, this is a good event because it removes the overhang of shares that ACB clearly didn't want (or they would have made an offer for HIP while pursuing CMED).  IF that overhang is gone, 24 mill shares sounds about right, then the selling pressure should abate and the share price should rise.

GLTA

[Seagrind]

Thanks TopMJplays. I think you might be on to somthing and totallly agree that this is an excellent buying opportunity. I had some shares at 1.46, so going to average down on this play.

[deet]

My thoughts exactly. If it was ACB/CMED responsible for this morning's sell-off, it's good to have them out of the picture so we can move forward. ACB/CMED still holding HIP shares have indeed been an "overhang."

[gutfelt]

This post has been removed in accordance with Community Policy

[deet]

I fully agree. Watch out though. People are gonna start calling you a cheerleader too.

[gutfelt]

This post has been removed in accordance with Community Policy

[deet]

It's obvious to everyone except for the resident bashers who are flaming me for being upbeat on this play.

[VeritasVern]

Deet you are a cheerleader. Problem is you have been urging those on here to buy at $1.40 and all the way down. Nice to see your recommendation is costing those lost opportunity to by at lower rates "like others on here have been suggesting"... You provide zero analysis besides saying things will be good six months from now and $3-4 valuation.

[Ggeeman]

move on already with your constant blaming and nagging. If you're not invested in any form seriously, on behalf of the bullboard , stfu