Sometimes holders get impatient and want to sell out as they may see a better opportunity elsewhere. Nothing wrong with that. However fundamentally nothing has changed with AC8 which could have explained the "downtrend".
In my opinion AC8 is probably one of the safer companies I am holding in for a longer term for the huge potential gain I expect it to make.
It is also one of the few companies out there that now has the full set of licences to cultivate, manufacture and supply Australian produced cannabinoid medicines to patients. Below was from the actual announcement:
AusCann is now one of a few Australian based medicinal cannabis companies that can cultivate, manufacture and supply Australian produced cannabinoid medicines to patients.
The Licence follows the Australian cultivation licences that have been granted for the Company’s site in Western Australia (announced 5 May 2017), and in Tasmania through its strategic partnership with Tasmanian Alkaloids (announced 11 July 2017).
The Company and its strategic partner, Tasmanian Alkaloids, are awaiting the outcome of a further manufacturing licence application for the proposed operations in Tasmania.
In combination with the Company’s existing cultivation licences, the recently granted manufacturing licence strongly positions AusCann with one of the first complete and fully Australian supply chains to provide medicinal cannabis products to patients.
AC8 Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
