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McCusker Asks… Are We Seeing A European Cannabis Bubble?

Sounds like a perfectly reasonable question to us

He writes in CBE

Crazy’ Valuations 

On February 26, Cellular Goods listed and within a few hours of trading it had soared to over 20p from its launch price of 5p giving it a Market Cap of over £100m – with zero revenues.

Its subsequent fallback to a little over 10p has been disappointing some of the 6,000 retail investors it attracted to the IPO.

It’s fair to say the reaction of Geremy Thomas, interim CEO and founder of the UK’s Sativa WellnessGroup, is all together different.

He returned to a hands on role in Sativa last month and feels frustrated by recent events. “We are undervalued if you compare us to the newcomers to the LSE who have values of £100m whilst we are still lurking below around £20m.

“We still have lots to do and I am on to it – but why should they be £100m and me be £18m when I’ve got a proper business with a proper structure, one that is making stuff?

Worth a read in full if you have the time

Who’s Next For The LSE – And Are We Seeing A European Cannabis Bubble?

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