Oh MrF weren’t we going to 4c last week. Sour grapes will get you every time, I topped up at 11c!
It will continue going up in my view. Especially when you understand the reasons why it went down, which I’m sure you don’t.
Once upon a time there was a US fund that owned a substantial amount of IHL, this fund was called ETF MJ, this is a passive fund in that it buys on market GLOBAL CBD stocks purely based on market exposure and cap.
I understand this fund held as many as 70-80m shares at one point and from what i can deduct from their website (they post daily holdings) they got into some sort of redemption/liquidity crisis on one of their other funds, maybe associated with the banking crisis? Who knows!
But the ETF MJ GLOBAL fund liquidated around 50% of all their stock holdings to buy a massive amount of units in their other US CBD ETF fund. I can only assume they we’re trying to hold the unit price on the US Fund to stave off redemptions maybe.
So every stock in their GLOBAL MJ fund became collateral damage including IHL.
I check their website everyday and after selling tens of millions of shares in IHL it appears their crisis is over, they have stopped selling shares not only in us but across the board.
These sorts of mechanics create buying opportunities in my opinion. The company is well cashed up and working on plenty of news.
As the great Buffet says! Buy when others are fearful.
Glta dyor
IHL Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
