40 cents it is.
Tomorrow is when it starts to freefall?
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Apparently these boys operate on an 'understanding' so the sellers today would mostly be those who thought there was a stag in this.
Given that there's no escrow & shares are zero for the original shareholders and 8.6c for the promoters, there will be selling soon enough when the company starts pumping out the 'good' news.
Plus SMS, SeaDragon & Snakk anyone?
IMHO current S Hers should get out now as Im picking that this is as good as it gets !
So does anyone know anyone of the 1400 " investors " who put their hard earned into this outfit ?
Im wondering now if they would pile into it at .40 ?
Up to $0.41 this morning. Wonder if the publicity of listing bought in a new round of punters??
I've completely stayed out of this and didn't bother researching until today for a bit. I don't need an answer to this but how the hell did this get valued at $50m??
Now that I got it out of the system I move on to better things.
Director Ho bought a bundle of shares
Buy when insiders are buying they say
Sp at 36c one week after listing and the cannabis-induced investors who paid 50c are down 28% :eek2:
Much more pain ahead as those who obtained their shares for 0c, 6.7c and 25c will look for every opportunity to lock in their gains.
At 36c, those who git their shares at 6.7c are still sitting on 437% gain - but how many will they be able to sell before those who paid 50c wake up from their cannabis-induced hypnotic state of mind? :scared:
http://nzx-prod-s7fsd7f98s.s3-websit...688/302469.pdf
Page 17 - IPO publicity photo which never made it to the NZX website or media. Wonder why! :D
slip sliding away ( again ) imho CBD will drift down to its real value sub .10 it might take a while but who would buy this cr@p with no real numbers !!
Reminds me of 42 Below, issued themselves millions of shares at re 2 or 3c from memory then sold out early screwing most of the shareholders that had supported them.
https://www.fool.com/investing/2019/...h-in-july.aspx
While investors in other Cannabis stocks are making money, the Cannasouth investors who paid 50c are down 34% in one week!
At this rate, it will be 10c by year end as those who obtained stock at 6.7c continues to sell down to lock in their gains whenever there's an opportunity.
This is ridiculous to say the least..
1.No Escrow period for the shares bought at 6.7c...
2.Cannabis stocks funded through crowdfunding or through NZX are all in gestation period.So will take a while to see real money.
3.The referendum also may have an impact on these companies.
4.NZX was so desperate( I guess..) to get new companies on board and it ended up getting this mutt.
5.I still recollect companies like Hirepool was pulled from listing because of its price...Those times were different...
Out of interest and not trying to mock but does anyone have a list of the worst IPOs? CBD has lost nearly 50% of its IPO price in next to no time.
Sp now 28 cents and heading towards 7c in a big hurry as it's clear that those who got their shares at 25c are bailing out while they can.
So question is when those who got their shares at 6.7c join in the selling before it's too late for them!
At 28c, the cannabis-induced 50c IPO punters have lost 44% and now needs the sp to rise 79% to break even,
What they are up against is that those who got their shares at 6.7c are still sitting on 318% profit.
Very clear where the sp is heading - and it's not back to 50c!!~!!!
I read something the other day that Callaghan Innovation are going to be granting them some money. So not only are these guys destroying (new post-IPO) shareholders' money, they are also robbing the taxpayer.
http://www.scoop.co.nz/stories/BU190...an-funding.htm
Fourth grant. First harvest only 2 moons await, its all a happening!
Plant material from Cannasouth’s Waikato-based cultivation facility will be used in its Waikato Innovation Park laboratory to extract cannabinoid compounds for the proposed projects. The first harvest of plants growing in the facility is expected in the next two months, it said.
The desperation of the incompetents at the NZX is laughable but in the end, tragically is destructive for the future of the NZX. Another 1454 mugs to the slaughter, courtesy of the misfits at the NZX.
"Despite this, there is investor appetite around the sector, and according to the CBD chairman 1454 new shareholders who took part in the IPO process, implying an average holding of $6,800.
This is a good time to mention a major flaw in CBD’s IPO structure - there is no escrow to stop major shareholders from dumping their shares.
Usually in IPOs there is a commitment for major stakeholders to hold on to their stock for at least 12-months."
You'll recall another IPO that suffered (partly) from the same fate, of foundation shareholders cashing in big time, Balance. DIL, but then look what eventually happened there? 7c entry might be worth a dip of the toe
Agreed - case of monitoring developments to see what happens.
Never get too negative or too positive about any stock.
DIL became a BUY when the Americans move in with additional capital & their connections.
Brian Henry will be regretting to today his decision to sell out when the sp moved back to 38c from the lows after the Americans bought in.
He only left $7.01 per share behind!!!!!!!
Long way to go for Cannasouth sp to go down to - no product, no market, nothing!
If you were one of their suppliers, what credit terms would you have them on?
Another glowing article:
https://www.stuff.co.nz/business/mon...ash-of-its-ipo
This is the saying it reminds me of.... https://www.youtube.com/watch?v=pG0yq2ATWbc
The proposed regulations, out for consultation now, are part of the work the Government is doing to establish its Medicinal Cannabis Agency (MCA) ahead of the Medicinal Cannabis Scheme anticipated to come into effect in 2020.
https://www.stuff.co.nz/national/hea...nabis-products
submissions open now
Never under rate hype and market sentiment. It can be worth more than product and market capability. At present the North American gold explorers cannot raise funds because so many investors are putting their money into cannabis stocks. Which further adds to the incompetence of NTL making an issue just after the CBD IPO.
Someone asked me about investing in this industry. I think its a good case of the old addage "sell the shovels to the miners"..... ASX:HRL gold star to the one that figures out the connection..... P.S. is there a 'Monsanto' equalivent for cannabis? That'd be a better punt.
https://finance.yahoo.com/news/canna...142214171.html
One way to get global exposure instead of this CBD NZX mickey mouse rip-off BS.
Horizon's Marijuana Fund (HMMJ.TSX) performed well for me, but they're a Canadian outfit. Nicely diversified acrid the North American industry.
I sold out about a year ago, but in 18 months before that they'd gone from CAD9 to CAD22. Think they're about CAD17 now.
Some of us did well on the" Medicinal Marijuana " ASX thread started in 2016.Paid to be in early tho (and out too ,for most).
.......interesting research on the National Programme this morning. Purely as an Analgesic, medical marijuana rated as giving very little (if any) benefit. 23 out of 24 participants suffering from chronic pain experienced less than 30% improvement in pain symptoms. I'll stick with the Tramadol I think.
think it depends on the strain of weed you use. just like pills they are developed for different illness.
Today, chronic pain affects more people than cancer, heart disease, and diabetes combined. Chronic pain is the most common cause of long-term disability in the United States.
The researchers found that participants preferred indica strains for pain management, sedation, and sleep while they would opt for sativa strains to improve energy and mood
https://www.medicalnewstoday.com/articles/322051.php
Thailand’s Unlikely Embrace of Cannabis
https://www.bloomberg.com/news/artic...d=premium-asia
It’s not the only nation rethinking cannabis. Malaysia and Laos are considering legalizing medical use of the crop, and the Philippines’ lower legislature has passed a medical cannabis measure
wow NZ better hurry the world is moving into this space
https://www.nbr.co.nz/story/data-rev...asouth-sellers
Those who got their shares at pre-IPO bailing out.
Thanks for coming, mugs!
Surprising the buying support helping these scumbags unload their pre-ipo shares at multiple bag gains.
Sigh, is this what share investing in NZ new ipo’s has devolved to? Disgraceful, NZX has become a willing vehicle for the clever and informed to get rich at the advantage of the ill informed and inexperienced.
No product, no revenue, no profit … just a cool story dressed up in a promotional prospectus (even with all the ‘you could lose all your money caveats’) sucking in the inexperienced, filling the coffers of the very experienced.
It’s like NZX is trying to move on the VC market? I disagree with Snowy, because the investors this type of listing appeals to are mainly those who have none of the skills required to figure out whether it will ever make them some money!
Really takes me back to the 80's?
All those oil companies listing and their wells were all going to be good ones :)
A positive update?
https://www.nzx.com/announcements/339063
I feel like I have to defend CBD. Take it from me these guys are first class humans with ideals and a passion for developing this exciting and as yet unproven industry. For those that have been knockers and only a view for a quick buck you are entitled to your view, but it is misplaced. Who knows how it will turn out but we do know it is a growing industry worldwide and almost certain solutions will be found to get medical marijuana to market. For investors in the case of CBD it is all timing of entry. Those who participated in the IPO may be feeling a bit hollow at present but only time will tell if holding on for the long haul is the correct decision. Don't forget the float at 50c provided CBD with initial funds to get on with their research. Below is a recent item from their website which is worthy of reading.
Disc not held.
https://www.cannasouth.co.nz/2019/wa...cannabis-wave/
Buying into the IPO was voluntary, individuals did so with the knowledge CBD had no product, no trading history and were in early development/trial stage and should have been obvious to all if CBD was to be a success it was going to take time. You sound like you were one of those looking for a quick buck,but of course I don't know if that's so. It's called investing, not speculating.
Quick buck?
You got that one BANG ON - just apply it to the backdoor merchants & the Derek Handley copy cats.
We do not need apologists for their type of behavior - but you are welcome to uphold their highly questionable corporate 'integrity & morality' - will not blame you as their snake & canna oil must be rather intoxicating? :t_down:
[QUOTE=kiwitrev;768676]I feel like I have to defend CBD. Take it from me these guys are first class humans with ideals and a passion for developing this exciting and as yet unproven industry
You been smoking the good stuff mate? The promoters of the IPO should be locked up....classic pump and dump type dealing
potential competitor starting up
Former Nelson mayor Aldo Miccio behind plans for medicinal cannabis facility
https://www.stuff.co.nz/business/115...nabis-facility
good to see more people entering this space , the industry will be huge in the future.
Almost back to IPO price...
see helen clark our former prime minister is now a big supporter of legalising cannabis. she used to be a doubter but now relises criminalising people for something they gonna do anyway is dumb
Helen Clark: New Zealand needs legal weed
https://thespinoff.co.nz/society/03-...ds-legal-weed/
After a disaster IPO @ $0.51 19/6 and a fall 55% to low $0.28 2/7 CBD knocking on IPO price again, now $0.495 up 77%.
Nice if you got in around the low SP.
I'm new to investing (and sharetrader, hi! :)) - backed these guys on sharesies about a month ago, seems to be going well so far! not sure why everyone here is so negative about them?
ha, fair enough!
I guess its speculative as its based on the upcoming industry - but they do seem to be getting their ducks in a row
highly speculative , if they get it right could do well , if they dont probably lose all your money
actually i should have said if you got in around the lows of 35c odd your currently well positioned ( up 100% now lol ) now to take some of the table and be free carried now on the rest of your holding. ( free carried means selling some to get your initial investment back and seeing what happens with the profits in the future) not advice just a strategy some people use.
Welcome to the forum and welcome to Share investing. Good luck with your investment.
Many investors here have seen companies like this come and go before. The 'negative' comments that may concern you are made because until this company proves itself with a regular revenue stream and regular profits it is viewed by many as an extremely 'risky' investment.
While none of us can predict the future, it is likely that it will be several years before profitability is reached and in that time there is strong risk of share price dilution via the need for additional capital raising (not to mention all the other risks of market crashes, lack of product sales, competition, take overs, etc etc)
If you have picked this company well and it moves quickly into profitability you may well become very rich.
In the meantime some of us prefer to have our money elsewhere in 'proven companies' where returns are more certain and less risky. However you can be sure that when/if this company ever moves into profitability many of us will re-evaluate it and possibly join you.
You also have to consider just how much competition is out there, and the fact that these guys are starting from a long way back. There's other Aus companies already up and running and bringing in revenue, plus all the Canadian outfits. That's not to say that CannaSouth won't at some point come up with a competitive product but really just how much can they differentiate themselves? It's going to get pretty crowded over the next year or so and I don't like the chances of a late entry startup.
Goodness, look at that for price action! Amazing what market sentiment can provoke regardless of any fundamental basis. There will be winners and losers, I hope those folks buying this rally have the wherewithal to know how to manage their position. Great for the promoters and insiders, I expect another announcement soon regarding who’s feeding the buying frenzy.
SP action without much fundamental means worrisome sleepless nights unless you think you know exactly when to be in and out.... This reminds me of KTD on asx about a year ago... GLTAH
80c on fire 1 dollar soooon lol must be a wicked strain of weed they developing eh
another lesson there when you get a price enquiry normally spells the end of rally , esp when its based on nothing
What goes up must come down!
That is truly bizarre price action - I hope the regulators have a decent look at that given the names behind this company have previously brought us Blockbusters including Plus SMS, QEX, Truscreem, Promisia and the like !
you are on to it OGG, just look at the names behind it (Preston, Sorenson et al) and you will see recurring theme
lol thanks for a big laugh CBD. You made my day.
Hope retail gullible investors didn't get sucked into this pump n dump.
For a second I thought I missed something cause NZ stocks are barely ever pumped and dumped to this degree, but now that we have platforms like Sharesies where every newbie and their dog can start investing, pumps and dumps will start to look normal. Too much hype on trends, not enough research and far too much FOMO by new investors looking to make a punt then later blaming the market for being risky when they lose. Its a bit of schadenfreude watching it, but I do feel for the ones that suckered in, fundamentals please everyone! Though some people made some good gains, so maybe its not stupid if you can make profits, its just a stupid decision when you lose though!
roughly 8m shares traded last 5 days so some people made good gains , funny it started ralling after helen clark says she supports legal weed ..... they say these days social influencers have a big effect on people buying stuff. just look even nz is paying social influencers now millions of dollars to promote NZ.
helen clark is probably one of the biggest social influencers from the political scene i reckon bigger than ardern or key
https://www.nzx.com/announcements/340631
Edit: never mind. Just realised it's old (yesterday's) news.
How does one delete a post btw? I can't see any delete option anywhere.
Click on "edit post" and when you are in editing mode click on "delete".
Edit - oops - this used to work but it appears the moderator (or whoever) removed this option. So I guess, you only can edit and remove the content, but not the post.
Stupid.
heading back to highssss soon ?
patrick gowers doco on weed last night was good. nearly made me cry his guilt on not helping his mum with her pain.
https://www.stuff.co.nz/entertainmen...for-his-mother
yeah that was a really touching moment - can see why there is so much interest in this - pretty sure most people would have someone in their life who could benefit in some way from medicinal cannabis
Australia’s capital city legalizes marijuana
https://www.cnbc.com/2019/09/25/aust...marijuana.html