If you look at OGRMF which SPRWF tracks well with, it peaked at $4.37 on Jan. 24 and then finally bottomoed at $2.72 on Apr. 9. It took about 2 months to get there. SPRWF capped out at $2.62 on Jan. 3, and by Apr. 9 it was $1.20, only it kept cratering, hitting lows of $1.18 on May 8 and all the way down till Aug. 14 when it hit $.98. That was when the rally happened in anticipation of legalization, which just peaked in the $1.70s. Honestly, since much of the investing was speculation in anticipation of legalization, this result should not really be surprising. Going forward, revenues and market share should dictate stock valuations. Could SPRWF be undervalued? That really depends on revenues and market share relative to its competitors.
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