It is certainly disheartening seeing the SP decline for no substantiated reason. However to stipulate that it is to do with the acquisition is wrong IMO because:
- You're ignoring the fact that almost all medical cannabis stocks on the ASX have suffered similar SP movements in the past 2 months. CAN, AC8, THC, CPH to name a few. To me its clearly a more industry pull back as opposed to any specific company.
- If the acquisition is that bad, how did they raise $30m on its merits? The capital raise was literally done for the acquisition, so this is what they would have presented to institutions, brokers and the like. If the experts didn't think it was a good idea they wouldn't have been able to raise the $30m.
But everyone has their own theories. That's what makes a market.
It is certainly disheartening seeing the SP decline for no...
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