Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team Can you please comment on CXL - and your participation in the SPP @ $4.55 given the shares have fallen today to a low of $4.30 following news of the Govt's cancellation of Grants. Also, can I have your view on Cann Groups SPP @ 22cents Regards Debbie
Hi Debbie,
As you say CXL did initially dip to $4.30 on worries around the cancellation of Govt. grants but with it trading ~$4.52 at 3pm on Friday we have no major concerns towards our participation in the SPP @ $4.55. The message from labour in its budget was confusing as it talks big on green initiatives and then pulls grants, which may well get reinstated through a new mechanism that was announced.
NB We still have 2-weeks before the SPP closes so will decide at the time. Our general rule of thumb is we like a 5% benefit to participate given we need to send in the full amount of the funds and then scale back generally occurs etc.
As for medical cannabis company Can Group (CAN) its not really one for us after the stocks fallen from $1.80 to 23c over the last 2-years, for now the fad sector has gone the same way as crypto currencies.
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