Actually the sp is up substantially from its 52 week low of .0348 hit last week. If you were buying shares in the 3's and mid 4's those shares are now in the money. Your average may be .20 but that doesn't mean all your shares are underwater.
Yes something would be terribly wrong if NGW was the only cannabis company down at this level, but that's not the case. All of my cannabis micro caps without exception have come down to this level, but I still believe that my micro crafts will rebound and thrive in the upcoming quarters so I continue to add. That's a personal choice we all must make for ourselves.
The best way I've found to ease your nerves is to be constantly DDing your companies. With cannabis companies it's really quite easy to see how a product is selling using the dispensary websites.
Checked the Have a Heart website this morning, and found Slurricane back in stock, and still with the highest THC% available. Now I know Slurricane sold out, but was immediately restocked. Tells me NGW's supply chain is working well, and Slurricane is a fast seller.
I also see that the SDC GMO Cherries is gone in three days, and will wait to see how quickly it's restocked. Also the Fire OG pre-rolls are tops for THC so we'll see how long they last. There are many ways to be proactive rather than waiting and wondering what's happening.
Like with the highly anticipated Q4 report. We know they recently broke $1M in revenue, and $650K was announced in the current quarter. That leaves $350K minus approx $130K revs reported from Q2 & Q3 leaving approx $220K to be reported for Q4. Could be higher if some of the $650K came in during Q4. Better guidance than you get from most, and appreciated on my part.
What is unknown are things like expenses, cash flow, costs to produce, selling price per gram, total kg's sold, gross margins, biological inventories, cash on hand, and other important metrics. Also material events since Q4 will need to be reported for more guidance into Q1.
What also has me intrigued is the announcement that the Hart Luck CBD inhaler sold $20K units on its first day of availability. With CBD sales at record levels during the crisis have sales gone up since. If they average $20K per day in sales that's $1.8M per quarter in gross sales for CBD alone.
Would like to see them push to get their CBD products in all the Columbia Care dispensaries across the country. Same with Heart and Health with their big expansion plans in California and other states.
My take is cannabis stocks hit a rough patch that caused investors to flee to the tech sector for better gains while cannabis valuations came down to earth. Believe they well overshot the mark, and now cannabis is coming back into fashion as the essential products consumers demand.
NGW appears to be rapidly filling that demand. Can't ask for much more than that from any cannabis company. imho gl
Posts are my opinion only, and not advice of any kind. glta
