This reminds me of how in March last year IHL announced its partnership with Cannvalate about the trials and the performance milestones up to 14c that would be given to Cannvalate in exchange for the latter paying for most of the costs associated with the trials. IHL had announced its intentions to move into the MM sphere and obtained the licenses to sell dronabinol, CBD and synthetic CBD only in Jan 2019. Market didn't seem to react for months, provided excellent opportunity. From what I have heard here, one of the old directors was also doing a lot of selling and when he exited the SP could finally run.
Later in the year when Impression started executing with supply agreements, creating INCANNEX in August, Regoing Trials etc we had a re-rate based on what the market percieved as execution into the sector. Feels like the same situation here, impatient stale holders and those who think mgmt wont execute are selling.
Sentiment drives share price movement at the end of the day, and I think in times like this it is prevalent for many to become stale or impatient. Story will repeat itself all over again when IHL commences a trial and gets results then sentiment will flip very quickly... then FOMO... so on. But if you genuinely don't believe in management execution despite evidence to the contrary, then best you sell now for peace of mind.
IHL Price at posting:
5.0¢ Sentiment: Buy Disclosure: Held
