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Yep that was good news, things should get much better once they stop diluting too which should be soon. I would imagine it’s half gone if not more. I would guarantee next Q shows they exhausted the offering using it completely. They added a huge % of shares to the base, sucks this would of stayed around $4 if they did not do that offering.
CGC just got upgraded this morning, and MEDIF is getting a bounce back day after almost a 20% crushing yesterday which was caused by HEXO defaulting on an 8 million dollar payment to them. MEDIF filed a lawsuit against HEXO. Also OGI took about a 7% hit yesterday too but has not even recovered that back with the gain today.
So I would say OGI is getting a little bounce back from yesterday and the last week of heavy selling. In about 3 to 4 weeks financials will be released from some big MJ players. If those financials are similar to recently released APHA then we are going to see some significant drops sector wide in MJ.
Longs are embarrassed they are supporting such junk, seems the cheerleaders have gone into hiding as the stock plummets day after day. It may have a Green Day today but that’s one day. The company is in trouble and had to raise millions and millions through dilution just to keep the business going.
They can’t even get a conventional loan anymore because they are so far in the red. Massive loans and debt looming over OGI.
OGI dilution machine is running full throttle folks. So disappointing that they were forced to take the same route as all the other failing MJ companies in Canada. The offering and then them using the offering and continuing to use the offering proves they cannot even survive on the revenue they make. They are millions and millions short to keep the business alive. Luckily they have a strong shareholder base that are long and do not care if the company dilutes the heck out of their money. Any company would love to have as many blind investors as this one has.
What’s worse is folks here have been telling people to buy since it was at $6.00 US. Ouch.
Interesting, is OGI heading down this path?
https://finance.yahoo.com/news/hexo-company-raised-enough-cash-173520486.html
OGI selling shares again as soon as you see they started using the offering you have to be selling. Plus what better time to sell than the recent jump up with a RSI at 70. A lot of folks were gobbling up shares over $3.25 thinking here comes the big run. Actually that was the time you should of been selling especially knowing the dilution machine was turned on. Any dilution of this size will cause huge share price drops prob heading back to low $2
Sold a bunch when RSI was above 70 and waiting now for the RSI to be around 35. Forgot who commented on the RSI is meaningless but sure played perfect on the last run if you followed it.
Great stuff but meaningless while dilution is rampant. The whole reason they needed to do an offer and dilute is because they are not making money and obviously can’t get a conventional loan. So yes this 2.0 better work for them or they may be taking OGI to under $1 with the massive share selling. And definitely will be another offer if things are not fixed by end of year which dispensary wise doesn’t look to be happening fast enough at all. I don’t know enough about the Canadian government but they screwed this up big time and cost thousands of investors billions.
Wonder if any government officials friends and family shorted MJ stocks last year???
Favorite flower does not equal sales!!
I challenge anyone here to find a list that is for flower and shows any of OGI’s flower is a top SELLER anywhere. I’ve searched and never found one. Those awards are meaningless they pay to be on those lists!
All that matters are sales numbers.
The OGI pump and dump running well today. That ATM they have is awesome just feed it shares and it spits out cash.
Many MJ stocks up and OGI puts out good news but is down on the day, perfect example of a company that doesn’t give a damn about their shareholders and will push good news out just to dilute more shares. All shareholders are now paying for the company to stay alive and losing their money.
Gonna get a lot cheaper than this looks like.
How many shares will OGI dilute today???
Looking like it’s heading back under $3
https://finance.yahoo.com/news/aurora-cannabis-acb-fade-bulk-203246888.html
Dilution at its finest, OGI @ the ATM again today.
Massive dilution here, started last Q no sign of it stopping.
OGI’s 60% vapes won’t sell unless all other options are sold out, most all others are better quality but same price!
The company sold 2,600 kg at an average price per gram in the high C$3 range. For this reason, gross margins were only 37% in this quarter versus 60% back with record revenues in the February quarter.
As much as OrganiGram attempted to talk up the wholesale revenues, the impact on the bottom line as seen via EBITDA is noticeable. The company generated FQ2'19 EBITDA of C$13.3 million and the number dipped to C$4.9 million in the last quarter despite similar revenue streams.
More at:
https://www.google.com/amp/s/seekingalpha.com/amp/article/4317801-organigram-not-impressive
You missed the point their oil is testing at 60% because they sent crappy flower to be converted to oil. And it won’t sell because there are so many better ones for the same price. And your comparison to beer and hard alcohol makes no sense your comparing apples to oranges yes both are fruit and both are alcohol but completely different. The comparison should be all beer to all beer or flower and then all hard alcohol to hard alcohol or vapes.
So let me ask you when it is time to buy some whiskey would you buy a 60 proof or 80 proof if they were the same price. I think we all know the answer and of course you buy the 80 proof just like most all would and same with the vapes.
I hope the Edison ones test much higher than 60% they need to be at least 75% if not 80% to be a top seller.
You asked for a source https://www.newcannabisventures.com/how-to-measure-cannabis-extraction-efficiency/
Below is cut from article:
“This percentage, or the commonly referred to “yield,” is a practically meaningless number. Here’s why: Products made using material that has been extracted are measured and often sold based upon the amount of THC content. The “yield” does not measure THC content in any way. Thus, the potency, the amount of THC, is the most critical number to be concerned about.
The amount of THC in the extract is directly related to the amount of THC contained within the feedstock and how effective the extraction process is in removing and collecting it. Feedstock can have THC potencies that range from 0% to as high as 30%. Assuming the extraction process can obtain all of the THC in the feedstock, feedstock with higher THC content will result in higher THC extracted oils compared to feedstock with lower amounts of THC content.”
Garret holds a PhD and MS in Chemical and Biological Engineering from the University of Colorado in Boulder and a BS in Chemical Engineering from Lafayette College.
I think I believe what the guy with the PhD, MS and BS says over what you thought you knew.
That’s incorrect just look at a Canadian menu, the trailblazer vapes are the lowest other than THC/CBD mixed ones. Where did you get a 65% cap that’s hilarious almost all concentrates like sugar, badder, crystals, wax (all the dabbing stuff) are well well over 60%, most are in the 80’s and when you get something in the 90’s it’s real special.
They will figure it out by sales numbers just surprised they were not smart enough to know that out the gate. When you send 10% THC flower to turn to concentrate expect a 60% product back and yes the THC in the flower directly impacts the THC level of the oil, look it up. They were trying to use up their junk flower that didn’t sell by turning it into vapes but now will be left with a bunch of vapes that don’t sell.
60% would be the lowest count on most menus unles it was a THC/CBD mix, the cresco liquid live resins in the US are mostly high 70’s with a few in the 80’s. But it is what it is we’ll see if they sell, my guess is we won’t see trailblazer vapes as a best seller now or as long as they remain at 60%. Folks that buy vapes to puff on every so often may prefer a lighter oil but users that vape it everyday want a more potent oil. And you want to appeal to the everyday user that’s buying one or two cartridges a week not the once in a while guy that purchases one cartridge a month.
Really, how do you know what I’m doing? Since you commented on it I will tell you, I have a base of shares I do not touch as I also see this as one of the better MJ companies though not as good as it was now that they are also diluting shareholders value with their ATM. I also have a chunck of shares I buy and sell with and as the price was driven down recently I was buying and the last two days have been selling. If it hits the $2 range will be buying again.
With all that said almost all complaints I post here are also sent to OGI, pushing them to be better can only benefit us all.
Hopefully they increase the THC counts on their vape oil soon and we will all be much better off.
You will see $2 something again before you see $4 that’s in US dollars.
Then by all means keep buying right now, if that’s your opinion. At 70 most are starting to sell.
Shoppers Mart has 12 other suppliers, the only marijuana sales are done online and it’s medical only. That all being said it’s not a huge achievement better than not having but doesn’t seem to be a huge deal. Here is info on Shoppers Mart.
https://www.leafly.com/news/health/medical-cannabis-shoppers
Also RSI is at 70 right now, that’s high.
Yes definitely, and shoppers mart already has suppliers they are just adding OGI to the mix.
OGI probably has a max per day on how many shares they can dilute or I mean sell and guaranteed they maxed out that amount yesterday and today and will each big volume day till it’s all cashed in. This prob would of went to $4 without their dilution. Despite them still a decent run now let’s see if it holds or heads south again.
Agree, they are moving in the right direction other than that ATM they are blowing through.
Also wasn’t happy they thought the low THC flower would somehow make good vape oil. They will figure out after the market is saturated with vape pens the 60% ones will have trouble selling. Now everything is prob being sold out vape wise since it’s so new.
Hunchback you see that they actually have started diluting though you claimed the offering was just a precursor and probably wouldn’t be used well they sold quite a large amount in 3 months, worth 22 million all pure dilution and it played a part in the drop from $4 to $2.
Then the one product they stated they are trying to produce more of is their highest THC flower Limelight which you claimed THC doesn’t matter. Well clearly it does and oh yeah did you read the majority of their returned product was oil and of course a low THC flower that wasn’t selling.
Your facts when you do provide any are usually wrong and most your comments are based on your over love of OGI, they are not perfect by any means but having a hell of a day today.
Congrats to those holding shares and just because I post criticism doesn’t mean I’m not holding myself.
Greg alluded to them earlier, Limelight, which is a high THC strain, which is sold out in our kind of limited offers that we've had in Nova Scotia and Alberta historically.
Huge dilution by OGI last Q here is the info right from their financials. And folks kept saying oh they won’t use the offering, what a joke and what foolish thinking.
“As of the date of this press release, the Company had issued 7,302,600 common shares for gross proceeds of approximately $22.9 million at a weighted average price of $3.14 per common share, leaving about $32.1 million available for common share issuance under the ATM program.”
They played a huge part in taking the stock down from $4.00 to $2.00 with that massive dilution. And that was only about 35% of it and guaranteed they are using the rest real soon. Shareholders are now paying for much of what they do. Think of that they had to infuse 23 million into the company last Q to keep the business going.
From OGI financials, “partly offset by a $1.1 million provision for product returns and price adjustments.
The provision related to two slow-selling products sold to the Ontario Cannabis Store — a lower THC dried flower and THC oils”
Like I said many times low THC flower doesn’t sell and above is proof, they are going to find the same thing out with their low THC vape pens no one wants 60% when many others at same price are 80%+.
I didn’t read whole report, they diluted 23 million in stock?
That was good revenue they reported 25 million. I was impressed with the wholesale and overseas being 9 million.
Oh it’s not me playing the same song, investors dumping shares is the only song I keep hearing. I’m simply commenting why folks are dumping. OGI used to stand out from their peers but no longer does because all the missteps such as cloning issues, growing low THC flower that will not sell and the massive dilutive offering they have initiated.
What junk shorters are killing longs as longs are the ones running for cover after 80% losses from the 52 week high. Don’t be surprised if there isn’t another class action law suit against them for deceiving shareholders with news like this.
https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=OGI&pageno=&storyid=201910030830PRIMZONEFULLFEED7725761&provider=PRIMZONE&product=FULLFEED&
and then only 1 month later this
https://eresearch.fidelity.com/eresearch/evaluate/news/basicNewsStory.jhtml?symbols=OGI&pageno=&storyid=201911111835RTRSNEWSCOMBINED_FWN27R17S_1&provider=RTRSNEWS&product=COMBINED&
And in between those conflicting articles filed for 175 million dilutive offering.
These are not signs of having your shareholders best interest.
And they are going to start diluting soon, not good.
Reply from OGI on my low THC email to them.
“Sorry to hear. We have made Limelight a core strain and introducing it (average 24% THC) to all markets (currently exists in a number of provinces) after it has had excellent success as a limited time offer previously. We are absolutely looking at new genetics.
Please let me know if there was anything else specifically I needed to address. As I am sure you can appreciate, it is sometimes challenging to address all questions in short order with over 40,000 individual investors.
Best,
Amy”
Those here saying the genetics currently are fine are wrong, read what Amy wrote they made their highest THC strain available for a limited time and it had “Excellent Success”.
We will all be better off when they have improved strains available. Let’s not kiss their butt and think they are perfect they need opinions from investors and customers to improve. Irk’s me it has taken them this long to figure out high THC sells better.
Canada 2.0 did nothing for any companies so the hype going into that was just hype no gains. Here is some positive news though I was searching the Ontario Cannabis store and there is only one trailblazer strain available which is good the less of that junk flower out there the better. The other 7 by OGI were all Edison which is better flower but not as good as other growers top strains in the same price range.
Many MJ stocks up big today, OGI down. Are they starting to dilute already or are people guessing that the dismal financials will drop this to $1.50 U.S. Not a good sign when you see red for your company in a sector that had a green day.
Shorters are cashing in they made massive money on this and other MJ stocks in the last year. I hope they move on and clear the way for some big sector swings up. Shorters didn’t create this downturn though it was the horrible rollout for recreational shorters just took advantage of it. They were smart to see it.
Sure is, could see this drop to $1.85 as next low and when financials are released plus dilution hits this could go under $1.00 U.S.
Many of the MJ suppliers supply all 10 provinces now, when OGI first did they were one of 4 I believe but now there are plenty. Even Supreme Cannabis at 0.42 cents U.S. a share supplies all 10 provinces.
https://www.newcannabisventures.com/supreme-cannabis-expands-retail-cannabis-distribution-to-all-10-provinces/
Originally when MJ just became rec it was a mad dash to supply the country with product and sales were not an issue cause they were taking everything anyone had, it was more of how much can you grow and how fast can you ramp up to grow even more. However because of the slow dispensary rollout and not the best plan they ran into an over supply very quickly. At that point and moving forward now the only companies that will survive and succeed are the ones constantly selling out their product. We will find out who those companies are very quickly, what I do know is I search top sellers listed by brand or company and never see OGI with one. Not even in their home province which amazes me. I invested a bunch with these guys and they have a great facility, now they need to step up and get better genetics and then I am all on board. I bet you hear soon from them soon if not on Jan 14th that they are looking to improve genetics and get higher THC counts. If they do not do something soon I am afraid we may be in for a rough ride.
The only other thing that may save them is the chocolates or powdered drink mix because the majority of the current flower and vape oil is weak and won’t sell.