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Friday, April 08, 2022 4:19:33 PM
There's been no news or revenue that makes it worth more or less from one day to the next.
Boustead Securities priced the offering at $4 because their thorough research determined that's what the shares are worth right now. They didn't intentionally underprice the offering by 50% (16 million dollars).
It receded back a quite bit this pm (almost down to $8), but recovered 40¢ before the close.
Income from Akanda is as fictional as its namesake; they haven't even planted a crop yet!
A buck or two from this venture isn't enough to save me from this sea of red ink - that's like tossing me a marshmallow as a life preserver.
I don't believe the story that Canadian shops are "making money" either. Not long ago they were losing money, now suddenly they're generating so much revenue that Ryan wants to open more?
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