Taking Stock (part 1)16 Nov 2020 10:59
I don’t know why the SP has fallen these last 2 weeks, others on here have suggested shorters, profit takers, lack of news and the absence of projected sale figures are to blame. I do know the average daily SP (over 2 week cycles starting Mon 27th) are as follows: 9.95p, 16.8p, 18.93p, 20.27p, 24.01p, 40.65p, 41,32p and 37.1p.
These numbers show a continuous rise in SP over the first 7 cycles and on 2 occasions the rise from the previous cycle was over 50% and the overall rise in those first 14 weeks was over 400%, a remarkable performance. Good news to explain this rise included the proposed sale of oil to solely focus on CBD, the signing of 2 international distribution deals and the start of the roll out into US stores. In cycle 8 the average SP dropped but it was less than 10% of the all time average high. Is this just proof that shares don’t go up in a straight line? Bad news from the company to explain this drop - none! For me, you either believe in the CEO’s strategy and their ability to execute it or you don’t. In their recent presentation they gave their good reason for not publicly sharing their expected sale figures. Is this just a blip or the start of a downward spiral? I don’t know and while it can never be wrong if you take profits and are satisfied with your returns, I am going nowhere. I believe the journey has just begun but that is my opinion, do your own research, make your own choice and good luck with your outcome.