Well that logic could also be applied to this stock - I'm sure many holders would also be in heavy red on this stock at the current SP and would be reluctant to sell. The significant SP decline in this stock was caused by the SPP at 40c - I think that SP discount took the market (incl. myself) by surprise. Also worthwhile noting that this SPP was to build the factory at Mildura so it was mainly for capital works. Now that we've moved past from the SPP, I'm optimistic there's good opportunities in this space. For example, there's a referendum on medicinal cannabis in NZ in 2 months time (now that election has been pushed back). Like this stock, QAN and WEB might also further decline in SP (despite some recent bounceback) if vaccine trials etc. don't go well or get delayed or if domestic border openings get delayed (which is currently happening) and that may also require further CR. I reference those stocks because I don't understand the discrepancy in your argument. Even if one is in heavy red, and further losses are likely in the short-term, logic over emotion would dictate that the stock would be best sold. On CAN, I don't think they will require another CR in the short-term given the excess cash they've raised as part of the current raising and their current levels of WC. Of course, they will most likely require further CR in the future as they grow like many small caps but by that logic one would never invest in small or micro cap biotech stocks (e.g. IBX, IMU, even MSB). Anyways, good luck with QAN and WEB. I'm sorry to hear about your losses. Every loss hurts, especially the larger ones. I hope you're able to claw back those losses with your other investments!!
CAN Price at posting:
44.5¢ Sentiment: Hold Disclosure: Held
