Wildflower Marijuana CEO William Maclean gave the vocal equivalent of a shrug when I called him today to ask about his stock’s wild day, in which the share price dropped from $0.60 to $0.45 (at the time of writing).
After several days coasting in the $0.70’s last week, and a spike that hit as much as $1.24 shortly before that (up from $0.33 at the beginning of April), long holders have enjoyed a wild ride in both directions.
Maclean isn’t losing sleep over it.
“We’re not in a position where we need to do a financing, we just had nearly half a million dollars in warrants come in, and frankly if you watch the ups and downs of a stock each day you’ll go nuts,” he told me Wednesday morning. “Long holders are in the money at the moment and I think the market just needs time to understand the machine we’re putting together.”
No news preceded the big downward swing, which the CEO says hasn’t come from insiders.
“The long time guys, they’re all holding,” he said. “We have a lot of work to do and we’re focused on that. The market will move up and down and it will find its level as news rolls out.”
Wildflower’s most recent news involved a deal with a US-based third party logistics firm that the company says can get SUN.C’s CBD and vape products into stores across the United States.
— Chris Parry