Loofman is out makin' Jugs!
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I see...
1. safe banking
2. Completed Tilray merger
3. A better financial report next quarter
4. Probable acquisitions
...in the not too far off future.
Then decriminalization or full legalization in the next 2 or so years.
In the meantime, I’m building up my war chest!
Jmo
This sounds like a hedge fund hit article to support shorting to me.
Jmo
Tilray Lowers the Bar for Merger With Aphria -- Barrons.com
Mentioned: APHA TLRY
Max A. Cherney
The Canadian cannabis operator Tilray may be struggling to reach the threshold of shareholder votes required to complete its proposed merger with Aphria, a Canadian conglomerate that sells alcohol and weed, and distributes medical drugs in Europe.
In December, Aphria (ticker: APHA) and Tilray (TLRY) announced a plan to merge the two businesses. Aphria would effectively conduct a reverse takeover of Tilray, taking its corporate name and its listing on the Nasdaq, with a 62% interest in the combined company. At the time, the reception to the merger was generally positive.
This week, however, it appeared as though Tilray may be having difficulty getting enough votes to approve the deal. Early Thursday, the company postponed the vote for two weeks. It was originally scheduled for Friday, but Tilray moved it to April 30.
People familiar with the matter said Thursday that Tilray had yet to garner enough votes for the deal to go ahead. In response to a query from Barron's, Tilray said it was moving the vote because the company has a large retail shareholder base, and needed time to ensure they had "every opportunity to have their voices heard and support the transaction."
Data from FactSet shows that 70% of stock is held by investors who have not disclosed their holdings. That group includes institutional investors with smaller stakes, but in the case of pot companies, many unidentified holders are retail buyers. According to Bloomberg, investment advisors hold 46% of shares outstanding, while individuals, including insiders, have 37%.
Early Friday, Tilray made a second move that will move the deal toward completion. The company issued a press release that said the board of directors was reducing the number of shareholders required to hold a special meeting to one-third of the total voting power from a majority.
Aphria shareholders overwhelmingly approved the deal Thursday.
Tilray's largest shareholder is Chief Executive Brendan Kennedy, who owns more than 10 million shares, or about 5.7% of those outstanding, according to Bloomberg data. As with many cannabis companies, several exchange-traded funds have significant stakes in the business.
Kennedy, along with Christian Groh and Michael Blue, founded the cannabis-focused private- equity company Privateer Holdings. When Tilray went public at $17 in 2018, Privateer held a controlling interest in the weed company, through its Class 1 shares. The shares held by Privateer are slowly being unlocked and released to Privateer's own investors.
Blue and Groh hold respective stakes of 2.6% and 2.2% in Tilray. The California Public Employees' Retirement System, the state's pension fund, also has a small position in Tilray, as do several long-short hedge funds, among other investors.
Shares of Tilray ticked up 0.3% Friday to $16.99, as the Cannabis ETF (THCX) fell 0.8%.
Aphria stock advanced 2.7% to $13.96 in Friday trading, but fell 15% this week after it reported disappointing fiscal third-quarter results. Most of Aphria's quarterly revenue came from its drug-distribution business. Management reported revenue of C$87 million ($69.58 million) for the segment, while Aphria sold C$51.7 million worth of cannabis and logged alcohol revenue of C$14.8 million.
Write to Max A. Cherney at max.cherney@barrons.com
(END) Dow Jones Newswires
April 16, 2021 16:12 ET (20:12 GMT)
Copyright (c) 2021 Dow Jones & Co
I’m hoping for $5-6 by next week. We can all load up then even mote and if we’re lucky we can load up even more at $3-4 the following week! Very exciting to see cheap shares getting cheaper!!
Regarding the Tilray vote postponement...
I wonder if the short squeeze that the Reddit Wallstreet group played has anything to do with this. So many shares changed hands in such a short period of time. Makes me wonder if they needed the extra time to figure out who the remaining shareholders are and how many shares they still own? Maybe they had a very small percentage of votes to give a fair result?
Jmo
70% of Americans want legalization now...
https://news360.com/article/553593890
IMO, I think we are sitting on the ground floor of an explosive market for cannabis. $14 a share looks to be a bargain for those who are willing to take risk and don’t mind being patient for our day to come. Aphria/Tilray appears to be a force to be reckoned with now and into the future. They are in a great position to buy up complimentary businesses that will expand the company’s growth prospects in the U. S. and the world. When the day comes for legalization in the U.S., I look forward to holding a large position and seeing it go parabolic in a grand way. I believe $60-$100 a share in the next couple of years is very possible.
Jmo
Got my 13s!
Can’t wait for 11 and 12s...
Got my 14s!
Woo hoo
If the merger were to have happened today...
1000 shrs APHA x $16.28 = $16280.00
1000 shrs APHA x .8381 = 838.1 shares of TLRY
838.1 shrs TLRY x 19.85 = $16,636.29
That’s a whopping 2.19% premium for APHA.
Not that great IMO
My guess is $12 low end of bottom to $15 high end. Possible upside catalyst ahead is quarterly and merger. I also would love to see an acquisition announcement in the next 3 months. Throw in another short squeeze play anytime and maybe we’ll see $30 again.
Jmo
I’d say we’re being subjected to max pain with the retraction in price leading up to earnings report and merger events.
Jmo
Interesting roller coaster ride APHA is going on lately. Up in before and after hours each day. Then driven down throughout the day on relativity low volume. Are we seeing;
Consolidation?
Day trading?
Shorting?
Price being manipulated to let a big position in?
Company selling shares?
Combination of the above?
Comments and opinions appreciated.
Jmo
I believe legalization may still happen in the next couple of years. There are many eyes on the 16 states and watching carefully how it goes. Other states will be pressured to get in on the tax revenue bandwagon they are missing out on.
The CEO of Aphria/Tilary thinks the same thing!
Jmo
Loofman to
Craziness...sold a bunch in premarket for $19.90 and bought back at $18.00 today. She’s churning
You could be absolutely right, but there is the merger in a couple of months. Profitability is just around the corner. US Senate leader Schumer is pushing federal marijuana legalization as priority. The marijuana industry is consolidating big time. Plenty of buyout opportunity for the new Company.
Strong world presence. And the list goes on...
Many catalysts sitting before is to shoot the stock price to new highs in the near future, IMO.
Jmo
Yeh, like a helicopter with no landing gear. You’ll know it when you see it!
Lol
Jmo
I see next point of resistance at $12. Is this potential bottom or does the price dismiss merger and growth expansion going on now and into the future. I see and feel pain right now but that is usually my indicator to start averaging down. Anyone else agree?
Jmo
I’ve read recent analysts opinions and a couple say that Aphria won’t get the benefit from the US market if legislation is passed. But, the CEO of Aphria said in his recent interview that the company is well positioned to jump into the US market if the regulations are friendly towards foreign companies.
I’m thinking Aphria very much believes the US market will be theirs for the taking and they are ready for it.
This is why I am heavily invested in this.
Jmo
I’m thinking this may take some time to get back to $25. IMO, it’s going to take some significant PR/news to make it move. Maybe another Reddit event too. I’m sitting on a big investment here and have high hopes and expectations, but it’s going to be a wild ride getting there. Any other opinions on this?
Jmo
Appreciate your contributions FUNMAN...
I’ve been in APHA for a couple of months now and have a sizable investment. I’ve done a good bit of DD and see real potential for significant growth over the days and months to come. This investment is a volatile one but it does give us opportunities to buy and sell to improve our positions. I see the potential to hit $35 in the next month or two. So much interest is out there now.
Jmo
Loofman
Article about the CDMO market
https://apple.news/AaNhKyNDASXiOSuAc_a1_4A
Howdy everyone. I am pleased with CDMO’s steady climb into legitimacy. It’s also nice to see how many of you stuck with your guns and have been rewarded with a nice consistent price climb!
I am in with a few shares, but I’ve gone from OLD LOOFMAN’S PURE KENTUCKY KORN LICKER to makin LOOFMAN’S INDIANA HOOSIER CURE TONIC.
Let’s keep on makin money and stayin cured of all that ails us in 2021!
Jmo
Loofman
Ever since I quit makin’ Old Loofman’s Pure Kentucky Korn Licker, this here stock has gone up almost double. That’s got to make someone happy!
Jmo
Loofman
Chart wise this looks like a decent point to start buying some again.
I need to start building a new shack. Sold the still to feet my goat.
jmo,
Loofman
Sold most of my shares @ $7. I plan on buying again when/ if the price gets under $5.
It’s been a long haul for me on this stock. 11 years, 4,897 jugs of Old Loofman’s Pure Kentucky Korn Licker, Tessi May left me twice, 1 destroyed shack, a couple of goats. 3 dawgs, a few failed trips to infinity and beyond, and a small profit of about $150.
God bless y’all
Loofman
Thanks PD, sold it again at 5.69. Lol
Hoping for a gap later, maybe tomorrow to reposition.
Jmo
Loofman
Yes it was. Sold at the ask.
oops I forgot I had a GTC @ $5.65 on 30% of my position. I had set it months ago and they took me out before I was able to set it higher today. Oh well, I bought it back @ $5.25 lol.
Good luck to everyone in the days ahead.
Jmo
Loofman
Definitely improvement this quarter. Getting closer to profitability.
Hopefully this trend will continue and start moving the share price.
Jmo
Loofman
Oversold imo.
Very good progress. eom
I layed out in the freezing weather to make snow angels hoping the angels might bring a miracle to Avids stock price.
Please send help, I’m frozen to the ground and can’t get up!
Loofman
Wonder if H.C. Wainwright is still standing by it’s $11 price target? It’s almost a 3 banger from this point.
Sell you car, kids, wife, dog, house and gold teeth if they are “Wright”! Lol
Jmo
Loofman
Just one decent contract announcement will fire things up perty dang good imo.
Loofman
Share price is down 26% since October. I have a feeling we actually might be approaching the under valued range.
Jmo
Loofman
They need to do a bit more PR imo to keep investors interest and help prop the share price
Jmo
Loofman
Just whiling away the time watchin’ my investment whittle away as well. But like my momma always say’d, patience is a virtue.
Loofman