I agree with you and he's using a one time catalyst as a bench mark for what will happen this time. I will admit he's got it right on the government intervention though. If you were short a stock and they limited your gains and conversely up on a day trade, that's wrong. He does have an interesting point with excessive licensing. That said there are way to many positive things coming short term to hold this down. 5 million sq. feet growing, sleeping pill announcement I think is imminent, there's going to be several more JV's or outright acquisitions before Summer. I could go on and on but I think you can see my sentiment is very bullish.
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