I am a firm believer in Cann Group, but the recent surge was a classic pump and dump.
AFR posted their story with way more information than they should have had access to. They gave no source or evidence to verify their claim of a $4.50 valuation. Buyers pile on as expected and push the share price up.
Cann Group confirmed only that Aurora was in preliminary talks about a transaction and denied that it was for a takeover bid. Share price keeps climbing anyway.
Cann Group releases ASX response to officially counter the AFR story. Share price falls dramatically, as expected.
I doubt there will be any further announcements on an Aurora transaction in the immediate future and as the quick-money buyers lose patience the share price will make a slow march back to its previous level.
Aurora may eventually takeover Cann Group completely but I suspect a 4-5% increase in their holding to come first. Based on my own research I believe this is the transaction they were in preliminary discussions about, but time will tell and only true insiders really know.
I hate seeing games being played with genuinely valuable companies but I took a great profit during the recent surge. If it falls as much as I expect it to I’ll be rebuilding my long position but the current price is based on blind speculation and I don’t trust the rumour mill for a second.
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Last
1.6¢ |
Change
0.002(14.3%) |
Mkt cap ! $10.42M |
Open | High | Low | Value | Volume |
1.5¢ | 1.7¢ | 1.4¢ | $36.02K | 2.388M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 180865 | 1.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.7¢ | 66534 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 180865 | 0.015 |
8 | 1051218 | 0.014 |
7 | 2932291 | 0.013 |
4 | 1231499 | 0.012 |
3 | 2818000 | 0.011 |
Price($) | Vol. | No. |
---|---|---|
0.017 | 65700 | 2 |
0.018 | 1723335 | 4 |
0.019 | 2461953 | 3 |
0.020 | 56726 | 5 |
0.021 | 303316 | 2 |
Last trade - 15.59pm 11/07/2025 (20 minute delay) ? |
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