In this vicious selling trend, I see again today that there was a little pop in the morning with low volume, then selling came and it dropped again. This is the continuation of 1-2 up or flat day and several down days with the share price ended down for the week. Nothing but real honest and positive developments will change the direction. In creative writing, they have the idea "SHOW, Don't TELL". A picture shows a thousand words. AusCann management has tried to be "creative" with "telling". Of course, this is doomed to fail when investors start to become suspicious. When are they going to be back to the school basics and "show" for a change?
Also, I wonder why AusCann would limit itself to medical cannabis when the size of this market is small here (and other markets have way more advanced players already). It would make sense to do research also into the beverage market. I know they talk about the difficulty of timing the effect of the chemical to produce a similar effect to alcohol. However, I think that a sensible approach is use cannabis to supplement alcohol to allow the alcohol content to go down to around 3%. That would reduce the negative health aspects of high alcohol content and keep some of that instant effect that drinkers like.
AC8 Price at posting:
35.5¢ Sentiment: None Disclosure: Not Held