Perspective
Great comment I read and wanted to share with you..
-----
Perspective
In just over a month, SPR's ROR is over 90%. I know that is cold comfort to those that bought in after the news of a pending partner, but expecting a huge return on top of an already massive run is extremely rare, almost unheard of.
The way news of the partnership was disseminated has greatly contributed to the action we are seeing now.
First a leak of the partnership that drove up the price on huge volume.
Then a confirmation of a possible deal with a partner. IMO a strategic error on the part of management. Not so much because they said something was in the works, but using terms like 'major' and applying an arbitrary agreement date created a perfect 'sell on news' environment for those that bought in the.40-.70 range
Sell on news has been accompanied by panic selling by those who bought in unrealistically expecting an easy 3 bagger after the announcement
MJ market in general has been getting smashed the last couple days. Bad sector environment is especially harsh on small companies with no revenue
This 'sell on news' has resulted in a drop of approx 8 cents from the holding pattern we fell into while we were waiting for April 30 to approach.
I don't know how much further we have to fall, but we need to clear out all these gamblers before we build a new base. Volume is starting to dry up, signalling that we might be getting there soon. I am continuing to scale in as it dips
There is no revenue to support the share price ATM, so this will continue to trade based on pure speculation (read - unpredictable). I don't expect any meaningful revenue numbers until calendar Q2 2020 at least. Set your own expectations accordingly
Day-to-day gyrations of the market fuel emotional reactions if you let them. Most of us know that decisions based on emotion usually aren't the most wise.
If you are long, the bottom line is this: Share price aside, are you happier with the company today than you were this time last week? Do you feel they are executing their business plan and have attached themselves to the right partner? If the answer is yes, then strap in and buy more if you can!
GLTA
-----
