The $50k Challenge Update 18 – 24/11/2020
Stock Code: EMD
Shares Purchased: 352,941
Share Price: 0.087
Reason for buying
- Low market cap of $18m with $2m in cash
- Board of Directors own 32% of the register
- Top 20 own 59% of the register
- No debt
- Cannabis sector just starting early phase bull market due to recent legislative changes.
- EMD undervalued compared to peers in the sector.
- A number of milestones due in first half of 2021 which if achieved should results in a much higher valuation