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Buyback of common shares

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JP
 JP
(@jpynestergmail-com)
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Joined: 1 year ago
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D. H. Taylor
(@dhtaylor)
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@jpynestergmail-com

I have been wanting to get into this stock, Ayurcann.  They just printed up some decent numbers, but they also have not seen the stock move at all.  At the same time, buying back stock usually drives a stock upward.  Nope. Nothing.  


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JP
 JP
(@jpynestergmail-com)
Estimable Member
Joined: 1 year ago
Posts: 86
Topic starter  

@dhtaylor most stocks are going downward...or briefly go up, then down. Sundial also announced buyback awhile back and the stock is only going down. At least Ayurcann is of now staying steady at the bottom.

Let's not forget, Sundial is buying back shares and what's the stock doing? Noseediving. Nothing makes sense with this market. When talking to folks who have been in the market for decades, they say they haven't seen such corruption in all their years if investing, compared to this last year. 

I pulled this out of one of the articles:

"On any given day, during the NCIB, the corporation (Ayurcann) may only purchase up to 15,000 common shares, which is equivalent to 25% of the average daily trading volume of 60,000 calculated based on the trading volumes on the CSE over the past 12 months and may purchase once per calendar week, in a block trade, a greater number of common shares."

I don't see that making much of a difference on a daily basis? 


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D. H. Taylor
(@dhtaylor)
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@jpynestergmail-com For those that are patient, the eventuality is that these stocks will go up and with valuations where they are, the upside is enormous.  I have read article after article where everyone agrees that most cannabis stocks are 95% undervalued.  That would mean a move of 10x the current prices of some of these.  And, if we start to see that kind of movement, people who have no idea that cannabis is even being legalized will rush in and push prices up well beyond where they should be.  


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JP
 JP
(@jpynestergmail-com)
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Joined: 1 year ago
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Topic starter  

@dhtaylor I'm with you on that, just making a point that I am not worried about Ayurcann that has held its own so far. Believe me, dude, I've been loading up on all my investments, especially the cheaper ones like Lowell Farms, Tilt, Ayurcann, BioHarvest, and about to add to my Planet 13. I'm biting the bullet on Planet 13 as I wait to see if it drops to my strike price of 2.50 Canadian which is about 1.96 US.


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