Sit tight. MGC will be one of the market leaders in the Aus med cann industry.
We are so much better networked and positioned in the industry. We have a great business model and a clear strategy going forward.
I have been doing a bit of research for BuddingTech over the last few months, and although I bought in to MGC prior to starting that, and I haven't worked with MGC directly, I have not come across anything to erode my confidence in the company.
The current Aussie regulatory framework is convoluted and prohibitive, but it's baby steps for now and within the next few years we will have a proper industry. Public sentiment has changed profoundly within the last 2 years and we are still riding a progressive trajectory.
CBD Health is a relatively low risk strategy compared to THC based pharmaceuticals, with a larger potential market/application and greater ease of developing clinical trials to ensure efficacious products. This also equates to greater ease of navigating regulations etc.
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The downward movement at this stage is just cyclical IMO, and from Panax being slow. 44m valuation is puny considering where medical cannabis is heading.
The fundamentals remain strong and the potential upside is huge.
This is an LT play, not a get-rich-quick scheme.
4.1c is the SP off the back of a retrace and presents a strong buy opportunity.
As always, GLTAH and DYOR.
MXC Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
