VALUATION IS BEYOND INSANE - My post from a few weeks ago...already -22%. The company is a complete joke.
CANV is even more compelling than PHOT as a short and I warned you all about PHOT a few months ago. CANV shares will return to intrinsic value of $1.00-$1.50 range within 6 months.
34m shares x $18/sh = $612m market value. Annualized revenues = $10m; TRADING AT 61x SALES Annualize earnings (assuming $0 interest expense) = $0.04 EPS; P/E ratio of 456
Multiple recent secondary offerings at $1.00/sh vs $18/sh current share price = MASSIVE DILUTION!!!
Dozens of competitors entering the market = upcoming share loss
CANV is a disaster waiting to happen. Just wait until the millions of restricted shares hit the market in less than 2 months time and the stock will absolutely collapse.