Yes, if you bought at the very peak, sure you are down about 65% to today's levels.
Those who bought at that peak and the absurd 2 week run up to it though, clearly didn't do very much DD or homework.
Again, this company makes tens of thousands a quarter. Not millions, not hundreds of thousands. With the amount of common shares outstanding at that time, and a price of .14, the market cap was just about $81M - which is wildly unsupportable. That valuation was, and still is, ludicrous.
Using today's outstanding shares and price, the market cap is closer to $14.5M. Again, still absurd, given if we average and annualize 2018 revenues (I'll assume they do 300K this year in rev) - that's a revenue multiple of 48x. Crazy.
The current price today reflects the optimism of the future. It's baked in. What you can hope for as a long, at today's levels- is that the OTCQB application gets accepted successfully, that the Farm Bill passes industrial hemp legalization, that management (Medico) continues to avoid dilution and retire more shares, that the distribution network continues to grow, and net profits continue to rise while COGS stay about level.
VATE's future is potentially very bright, but this is also the pink sheets, and anything can happen for no reason at all.
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