Lumpy,
I agree with you that one to two years from now this stock will be higher. But it would not surprise me to see this stock flounder for a bit right now. The last qtr was a bust, information from the company is dismal and the news releases are not really meaningful right now. IMO, I do not see the benefit of a relationship with a food distribution company when CBD food product is prohibited by the FDA. If someone can change my mind I am happy to listen.
If you look across the spectrum of CBD and MJ stocks, valuations are coming down, a lot. I just think that the hype and early speculation is behind us. We are moving to The phase of rewarding stocks when they actually make money. Let all face the one reality that seems to be out there, the CDB industry is catching on slower than we had hoped. That’s ok with me as I am still a believer that the industry will grow big time. I mean, Gronk just announced his own CDB line, that has to be a good sign right?
I think the smart move right now for all the longs that believe in the company is to set some alerts at some price they are willing to add, if they are willing to add, then otherwise forget about this company for a while. They have a lot of work to do to just to justify the current market cap of about 65million which is about 40-50 times 2019 likely sales. If the company can execute, they may be able to get sales up to $5-10 million next year, then I think we can see the stock start to move.
A while back someone suggested that the company had an offer of $1.20 a share. I wonder if we as shareholders have a right to find out if that is true? If it were true, why Todd would have turned that down is beyond me, and I am not sure I would trust him anymore to lead the company. That would have placed the value of this company at close to $500,000,000. Almost 10 times the current value. I personally doubt it was a real offer.
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