I'm a hardcore fan of profit, not AC8.
AC8 has always been a speccy stock (along with all the other cannabis companies). I knew this before I bought. It's risky. Risk means the share price can go down dramatically. The share price has gone dramatically - I hoped it didn't after I bought but I knew it could, so I'm not surprised.
Canopy as a major shareholder did provide some 'feeling' of comfort, no doubt. Yet, for the duration of the relationship between the two companies, there was no real tangible benefit that has led to major successes? I think the CR without Canopy might not of been as successful but that is now in the past.
I am choosing to trust what Auscann has said in recent times. I am choosing to believe them. Others don't.
We will all know by the end of the year (2.5 months).
If another company was firing in this industry and chomping through market share, it would be a different story. Nothing has been lost yet, the stories are just changing and most importantly, the cash is still there.
This stock is slightly more riskier in my own head now that Canopy has exited, but, I also think that the benefit of Canopy (in getting the funds) is probably over anyway, so, maybe their job was done anyway.
As I said, what happens next is very important. I choose to wait and I understand those that do not. I have bought more to average down and on no news and if the share drops further, I will go again.
Of course all the shares that are being sold are also being purchased. DYOR and make your own decisions.
When I put my thoughts on HC, I do so to show the results of my research and what I think but I also want to see/hear others thoughts and look at their research etc. so I can form a view for myself.
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