Everyone, let's just put something bluntly - despite differing views on MGC, there is no need for anyone to ridicule or rub salt in the wounds of those suffering substantial losses.
I am not writing off points that have been raised, but EVERYONE market wide is hurting, ALL cannabis stocks on the ASX are bleeding.
Let's not use this fall as another means to attack the company and its holders, and vice versa with holders getting emotionally defensive. There is a sea of red, the price of Dow has copped a substantial beating.
Am I calm, no, am I worried? Of course. To be honest with you, the price right now does not concern me at all (I really do mean that). What concerns me right now is the ability and current financial position of stocks like MGC, and whether they can financially survive until this is all over.
The price will recover once/if stocks like MGC survive this nightmare - and of course, as the saying goes, big gains will be made. Lets not forget that even with massive selling pressure, there are plenty of big buys coming through.
Fingers crossed we raise much needed funds to survive this period and get on with business.
Furthermore, good luck to everyone who has their money tied up in stocks. For everyone's sake, and for businesses right across Australia (and worldwide), I hope this blows over soon and the economy can recover.
MXC Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
