No question in my mind that these are PP shares that are taking this down. The trend has been clear since they became free trading. It appears Cannacord bought into the placement and have been selling it down albeit slowly, in Canada.
Good point mentioned by someone about not wanting to pay the burn rate on two warehouses while waiting for HC to license. The Burlington joint with Enertopia has the best chance of getting the o.k. since it even has municipal approval. With that a steady rising share price would make dilution less onerous on any subsequent licences. Also next year the Liberal government in Canada which is leading in the polls is intent on making MJ recreationally legal. When that happens those with the best share structures will fly anyways. Patience here should be greatly rewarded in due time.
My reasoning is that whole sector lost the steam in the last 3-4 months. Many people who invested for quick bucks sellig as fast as they can to cut the loss further. I think we need some solid sector news, preferably from Canada. When sector picks up this is one of the stocks to rise most. One news I'm expecting early next year is that liberal party and Justin Trudeau leading the polls.
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