Zenabis Global Inc. T.ZENA

Zena Shares will convert to HEXO

[quinlash]

.... regardless of what the company did,  regardless of what managment did, what they get paid, who bought and sold what shares.. etc etc etc.. go get over all of that and move on.

The shares of Zenabis will convert over to HEXO at a rate of .01772 per Zena share if and when the vote for the deal gets approved by Zenabis Shareholders.  That vote is expected in apx 4 weeks (May 13th), upon approval the shares should convert within a short time afterwards (days, maybe a week or two).

Between now and when that vote occurs, the market will set the shareprice of Zena shares each and every day.  The most influencial factor right now on Zena shareprice is the price of HEXO shares and HEXO has been trending up over the last few sessions. 

If you are a Zena long and you are in the red, start doing some research on HEXO to learn about it's products, books and potential going forward.

GLTA

Q

[Jimmy713]

Does not matter how many times we remind people of the conversion rate, they do NOT want to understand ... It is like talking to a wall at this point. :-)

[quinlash]

They're traders that went short on the stock and are now looking at having to buy back over the price where they shorted Zena, they are praying the shareprice at least drops to where they went short... that's where just about every basher on stock forums come from.  This is an example of what happens when they get it wrong... https://www.marketwatch.com/story/help-my-short-position

[KaizenPG]

The only problem with your supposition is retail investors/speculators can't short pennie stocks - try it and let me know how it goes.

[Jimmy713]

Perhaps you are talking about the Canadian Banks, and you would be correct. However, other platforms would allow you to short pennies and trade at 4 digits basis points, which make Quinlash assumption very true and valid.

[Jimmy713]

@KaizenPG: Here is 1 month of short info trading ZBISF in the US market more than 90% of the trades last friday was short ... Just to close the loop!

[quinlash]

The way I see it, why the hell would anyone holding Zena shares vote against the deal to join HEXO?  together they will form the 3rd largest player in Canada and have top selling products across the country.  Each and every share sold between when the deal was announced and when it comes time to vote will be cast in favor of it proceeding.  I know a number of us who are long on HEXO