Overview
- The company remains unprofitable despite expanding beyond cannabis into hemp products and alcoholic beverages.
- Shares have fallen about 99% from the all-time high, reflecting investor frustration with the lack of sustained earnings.
- Management has pursued brand purchases since 2021 to lift revenue, but integration and financing costs accompany the deals.
- A steadily rising share count from equity raises and stock-funded acquisitions is diluting existing investors and weighing on per-share results.
- Prior strategy has already led to write-downs across every division, reinforcing calls for caution until earnings are sustainable.