RE: More good news9 Dec 2021 12:44
This is simply going to keep dropping until more contracts commence.
Where the bottom might be, who knows, its hard to value, but looking at assets, debt, current sales, Mcap, shares in issue, I think we are somewhere in the ballpark of fair value now. Negative sentiment may drop it a little lower but I think 2p is about it, anything lower and its starting to look a little undervalued.
That said its mostly PIs invested and sentiment can therefore magnify SP movement disproportionately either way.
I think there are a lot of very naieve and inexperienced investors in MXC, it won't take much to make them jump ship.
I suspect a lot of experienced and institutional investors who mat have cannabis related stocks on their watch list will not make any move until positive news starts to materialise into physical sales.
MXC is in a new arena which many will be wary of and its also a fledging pharma stock which experienced investors will know is a money pit where tradionally a lot of pipeline products never make it to the market place.
Its no surprise its burning through cash way faster than its coming in, and its efforts may come to nought, but they have made substantial progress over the last 18 months.
I personally am still uncertain how this will play out, and very uncomfortable with the current losses and direction of the SP.
But if I keep emotion out of the decision, I think holding what I have is the wisest move for me.
I only hold 481141 shares at an average of 3.01p and while its going to hurt, if I lose the lot its not terminal as I'm well invested elsewhere.
Would I buy now, no absolutly not, I'd do what the institutions do and watch and wait.
Will I double my holding in the future, maybe, it depends on how it plays out.
Sign In
Follow the stocks
