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Agree CGC news is good for all other MJ companies, they were growing way too much. I didn’t realize it was 2 1/2 times what all Canada consumes legally though. And since they don’t have a 100% market share (of course) think of the mass amounts of flower they are sitting on. Over supply can bring prices down which could in turn sway people away from the black market and increase legal product sold. The main issue is still out there though with a major shortage of dispensaries. May be a longer road than many thought with only the big 3 or 4 companies surviving.
Most of Canadian MJ stocks are up today, this must be slow to react to the sector with the minimal volume.
Share count isn’t crazy and don’t see it jumping up lately. Took a position on hopes volume picks up and we start seeing some gains.
If you feel that was smart spending then we agree to disagree. But one thing we can all agree on is they diluting the crap out of this stock.
There is massive dilution going on here, which is the definition of overextending yourself.
They should not have paid $15 to $50 million for a chocolate line with dilution.
What a nice surprise 30% jump, just sold half of what I bought last week. Couldn’t resist the quick cash and with folks here saying the PSF deal wasn’t good really made me think this could be headed right back to where it was.
Must be good to put that to rest though, that has been bad press for VFF and Emerald for a while.
I’d like to see massive amounts of their Linelight strain being produced. That was a great success in their limited time offering for it.
Listen to the attached audio, Greg Engel says $50 million and I believe he said it twice over the 30 minute interview. So is Engel misquoting himself lol. I believe they just fed us a line of BS originally and what they thought would be $15 million ended up costing them $50 million.
Give me a breakdown of how long you feel it will take to make $15 million (actually $50 million) in profit from that chocolate line. Realize the cost of goods are not free either so just because they provide the THC input doesn’t mean it was free. The cost to grow the THC goes against the chocolate profit. Then tell me how many years you think they could of contracted out the production till it cost them $15 or $50 million. They literally could contract it out for over 20 years and most likely still not paid even $15 million in production costs. Also why the heck do you need a machine that produces 60,000 pieces of chocolate a day. The line may run on avgerage 1 or 2 days a month. Just a complete waste and overkill. Plus they don’t even know if chocolate will be a big hit yet. You don’t just sink that kind of money into something that your just hoping is a hit because you have an executive that knows chocolate.
Yeah used some money I got flipping another stock so can be patient on this but hoping the pure sun farms deal does not go belly up. Or if there is a big run up I may exit.
Yeah I thought it was only 10 million and was saying that was too much. When I heard Greg Engel say they spent $50 million on the chocolate line in the interview I was shocked to say the least.
Read/listen to this. OGI spent $50 million on that chocolate line.
What the heck were they thinking, how long will it take to make 50 million in profit from the chocolate line. I don’t see them making that back in 10 years even. 10 years would mean they are pulling 5 million of profit off the chocolate line per year. There is not a chance of that happening. What is the logic behind investing that much on a product that you don’t even know if it will be a big seller. Engel says in the interview it may be one of the best chocolate lines in the world and that’s out of all chocolate producers not only infused chocolate producers. What the heck do they need that high producing line for, the fact is they went on a spending spree with shareholders money by hitting the ATM hard. This really irks me money could of been way better spent. Greg Engel AKA Willy Wonka.
Some good info in the interview too.
https://www.newcannabisventures.com/organigram-bets-big-on-chocolate/
Let’s hope they partner with someone because we don’t need a $10 million dollar drink line built in Moncton, lol.
I really like the powdered mix hopefully that will be a big selling SKU.
We should see a big jump in revenue for the next two Q’s with the launch of their vape pens and chocolates, they will ship tons of product to load the dispensaries up. By years end we will know how sales are going for the 2.0 products as that will be all about reorders not initial stocking.
Damn got in yesterday and down almost 20% already, what a welcome.
What are the chances they keep their share of Pure Sun Farms?? Anyone have any solid info?
More red coming not a good time for a market crash when all MJ stocks were near their 52 week lows when the crash started. Stocks are on sale though if there’s any positive.
Nice, yes ending green would be fantastic!
We will see it’s always a gamble, thanks good luck to you too.
ITS BUY TIME!!! Pulling the trigger all day today!
Thanks, I wonder if this deal is still in place.
https://www.zenabis.com/zenabis-announces-cultivation-agreement-with-tantalus-labs/
Tantalus has a top rated strain so wasn’t sure if that would help ZBISF. I guess if the deal is in place it can.
This could be really bad https://www.google.com/amp/s/www.cbc.ca/amp/1.5471558
Someone dumped a large amount of shares around noon today.
I would buy this product, this definitely could help boost sales and has everything you want. Dispensaries won’t need much shelf space for it, should have a long shelf life and no need for refrigeration. Hope they have the formulas right and it does what they say.
Think they have a powdered alcohol now too wonder how that sells and if sales will be similar.
Wonder why this is such a below the radar company volume is extremely low here. Want to take a position but not sure with some of the reports I read with quality control issues at their main facility.
Also do they own Tantalus labs?
Brutal day for OGI, was a terrible time for them to start diluting a few months ago and shareholders are paying for it big time.
Weak THC counts on majority of SKU’s, two Class action law suits, $10 million spent on a chocolate line that will sit idle 99% of the time and massive dilution.
Still can’t believe they wasted so much money on that chocolate line that produces 60,000 pieces in 8 hours. How long will it take them to make the $10 million back from that. Just like they have done in the past though before even testing the market they go all in. Why spend that much before you even know if chocolate will be a big seller. It’s not in the US and prob won’t be there either Gummies are actually the biggest sellers for edibles. One of their biggest issues is them deciding on products with no research of what sells in a mature market. It’s obvious they didn’t and still don’t do research of sales to decide their products. It literally could take them 10 years to see a profit from that $10 million spent. And that’s profit not just revenue. Guess OGI doesn’t care how much it costs because anytime they need cash lately they just go to the ATM and dilute themselves up a few million dollars. Engel may need to be replaced if he’s not smart enough to bring in someone in with knowledge of the cannabis market
It’s just strange that they never formed a partnership. Engel is an extreme control freak from what I gather, hence everything under one roof, stubbornly trying to keep selling trailblazer that he knows no one wants but because it was their idea they are reluctant to let it go. At this point they should be growing only top selling SKU’s. Oh wait that may only be one or two strains, lol. Ok they need better genetics flat out. However back to your point yes they need a beverage partner and we all would benefit greatly from it.
Glad I sold some last week, big red opening for MJ stocks.
Surprised the new year sector run never started like the previous years. Can’t play it the same every year. Gotta bob and weave speaking of... what a great fight Saturday night, Tyson Fury fought an almost perfect fight.
Good luck with your theory I have thousands of free shares using my plan.
Stop worrying about what I’m saying or doing and focus on facts and why OGI is not doing as well as they should be.
Lol, thanks Yoda
And I hope you all saw they actually listed the THC content in their release today. What do you know they used better flower and got a much better oil with avg. counts at 80% THC.
Don’t tell me my emails went unnoticed by the company. You all should be thanking me for pushing the company to do better not bashing me. Though bash away I kinda enjoy playing devil’s advocate lol.
Anyone that is not pissed or complaining right now either knows little about the company other than what OGI spews or could care less about their investment.
Have owned OGI for awhile, originally things looked great but was wrong and they didn’t have their product offerings well thought out. So after many missteps from OGI and a sector drop the stock lost 80% from its 52 week high. Not wanting to take a loss here so waiting for a sector improvement to exit. In the mean time just trading back and forth to accumulate as many free shares as possible for when I sell.
However they could turn things around with better genetics too. Their limelight strain (which was a limited time offer) that came with humidity packs got good reviews and has decent THC counts above 25%. Need more like that and if they do then the dilution will go away because they will be getting many repurchase orders and increasing revenues. So there may be a limelight at the end of the tunnel too where its not a dump on the next big run. But for now they are making all kinds of mistakes costing everyone here money. Guess I’m the only one letting them know though.
You happy with the massive dilution?
How about growing flower that no one buys? Trailblazer...waste of rooms, lights, and $$$.
How about their new vapes that are 20% less THC than 90% of the others available at dispensaries.
Or their $10 million chocolate line that can produce enough in one day to supply all of Canada for a month or more, was that overkill with shareholders money?
They need to fix these things and until they do they will need to keep diluting and paying bills with shareholders money.
This recent run up has me wondering if this is the start of sustainable movement everyone has been waiting for.
It didn’t rocket up and crash back down and didn’t gain 75% in two days either, both seem to be good signs in my eyes. However will wait till the end of the week before any buys are put in. May miss out on some gains but don’t want to jump in early and find out it was just a temp bump up.
This relates to whole industry: “Monday, with MKM analyst Bill Kirk highlighting an issue that was overshadowed by Friday’s headline numbers: inventory. Since the end of 2017, Canopy has grown 115,000 more kilograms of cannabis than it has sold, he said.
On an annual basis, the entire Canadian legal market is ~180,000kgs (run rate), suggesting Canopy carries >50% of industry wide needs for the year (some may be CBD inventory in U.S.),” Kirk wrote in a note to clients. “Assuming Canopy ceased all growing operations AND maintained current market share, it would take ~2.5 years to sell this product in Canada.
Adding to the gloom, Canopy indicated that its current inventory levels may not have peaked, suggesting it has a lot of product that consumers just don’t want.
We expect large write-downs/destruction/price concessions,” said Kirk. “Canopy doesn’t want to participate in price competition, but to unlock cash from this inventory balance, they may have no choice. Net sales growth is unlikely to accelerate enough to match current production levels, so facility closures are also necessary.”
Seems it comes down to who has the best product will get sales. Ogi better start filling their rooms with top of the line product only because the trailblazer brand isn’t worth crap and most likely will be written off for a loss. Their vape sticks suck too and won’t sell unless they start using better flower to make it.
Red with big volume :( OGI
That was a lot words and I own a lot of shares. Some I trade back and forth but the majority sits. Still feel will get them back cheaper next week.
Just sold some, sell when it’s up buy when it’s down. Seems logical but for some reason I bet a bunch of folks were buying at it’s high today. 9 out of 10 times a stock goes up 18% in two days your getting a retraction.
Good day to sell some shares and buy back cheaper next week!!
I would say OGI had an 8% gain yesterday and premarket looks strong.
OGI forgot their pin# for the ATM lol. Shareholders got a break from the relentless daily dilution.
Is this what can happen without dilution?
Maybe $1.90 - $2.00 U.S. seems about right.