Elixinol Global Ltd (ELLXF)

[ANIA77]

I see the news that they are going to exit Japan market.. not a big deal. They were making less than $1 mln over there and they own only 50% so it's going to have zero impact on sales.. but instead could rise some cash for them from selling their 50% of ownership..
Also I see that yahoo says they are crashing because they may get hit with lawsuit that they label products diatery supplements.. oh well, they would be just one of many cbd companies in the same boat.. they will just have to join forces and fight this ridiculous suits simply blaming that based on FDA info about supplements, they do qualify for just that.. and since FDA is not rush to tell CBD companies what they should be label.. then FDA is the one to blame here..
At the end of the day $ volume is very very little.. so it's not major selloff.. probably a few people cutting losses for a tax break before year ends.. I think selling pressure will ease once this is done.. there could be really good opportunity to add if it goes lower.. Hemp industry is not going anywhere.