What a bloodbath... I’m down a fair chunk of cash ATM. Cann lost more than the equivalent of Aurora’s share today, so maybe market is factoring in a sell off, or maybe it is Aurora already selling? I keep analysing what’s happening here and I think most of the nervousness and trepidation stems from international markets. Aurora/canopy performance. Everyone has tried to grow too fast in my view. Including Cann. It’s always going to be a risk with something so new and we’re in the midst (hopefully near the end) of a global correction of the market. Doesn’t mean it’s dead.
I really do believe in the benefits of medicinal cannabis as an alternative to opioids along with the size of market both globally and in Aus. The fundamentals are still there for me at Cann, whilst it’s bloody disappointing they let this facility finance get to this point. Would have been good to wait for more revenues and finance approval but speed to market would have weighed heavily in decision to push things forward. I’m strapping in, holding and hoping the board can redeem themselves and get us back on track.
Seriously though, how the f&@$ does the govt give out that many licences? Whilst making it as convoluted and difficult for patients to get their hands on the product... setting business up to fail. Incompetence on so many levels.
CAN Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
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