Post by
tamaracktop on Nov 26, 2022 9:58am
Seriously damaged by inexplicable fiasco
I've never seen anything like this in 40+ years of being actively involved in the markets.
Completely blindsided.
Not the only one.
I believe the analysts' consensus target was $1.90-$2.00 was it not?
And didn't the Scotia analyst initiate coverage with a $3.00 target? Or was it $4.00?
Even when Nortel went down, it traded all the way from $124.25 to one cent before being delisted.
Greenlane has recovered 11% from its recent low, yet is still trading at a market cap below that of Xebec when the company announced creditor protection.
How is it even remotely possible that the company was as transparent as required by law and yet the shareholders are left holding the bag when the company had a market cap of
$79 million as of the last trade?
I have no idea how this is going to unwind.
Comment by
robert41 on Nov 26, 2022 11:14am
As it turns out I was stuck with 5000 shares of xbc, I had forgotten I had a small position with my broker as well. He has never seen this either and can't explain it of course trying to get clarity from the company is impossible. I'm part of the bag holder club too just wish these shares were in cash accounts as the write off would be helpful.
Comment by
tamaracktop on Nov 26, 2022 12:16pm
Count yourself amongst the lucky ones. There are reams of people here with a shitload more than 5000 shares.
Comment by
ZouZS3 on Nov 26, 2022 7:25pm
I understand you have "no idea how this is going to unwind" T. But based on your own experience and the reports that are being published by Deloitte, can't you make sense of what's going on behind the scenes? From a scale of 1 to 10, 10 being very confident, how confident are you that this will end with a successful restructuring story?