We Liked it at $3.50, we Love it at $2.25.
Down but not out. Now trading below the cash they have in the bank, this is elevated to our new ‘favorite.’ You can price and time stamp that call, and come back in a year to see where we are. We could be wrong but we’re pretty sure it won’t be anywhere under $5.00.
Just look at the chart and then look at the cash in the bank, and how could anyone (except for orphans and widows) NOT own this stock. Everything we’ve been taught since we were a runner on the exchange floor in 1974, tell us this is the type of thing you just have to own. Valuations like this don’t come around too often!
If you have only the tiniest bone of ‘bargain hunter’ in your body, this situation simply cannot be ignored. Really. Do as you choose, we choose to dance. “Cause your friends don’t dance – and if they don’t dance – well, they’re no friends of ours.”
First look at the chart..
Then look at the cash..this isn’t a mirage!
Here’s the math for the mathematically challenged (including us): 3.1 million shares outstanding, times $2.25 = a market cap of $6.9 million. We repeat, this is not a mirage.
Any bit of positive news could send the share price spiraling higher, like it did on December 30th, when presumably no one was watching (including us) on the last day of the year! It traded as high as $6.56 (up 135%), with an eyebrow raising 23.4 million shares trading hands. Boo and Ya.
Our thesis (theory, guess) is one day this will pop on FDA related news and then stay there. In the meantime, sit back, have a beer and relax.
We’ll work on a full report going over their portfolio and pipeline, to try to determine what in particular, has the best chance of doing the safety dance with the FDA.
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And By The Way…
Yes, we are well aware of the performance in the sector (beyond dismal) which is actually another reason for our optimism in Silo Pharma. Buying a cheap stock in a beaten up sector, is a time-proven technique, just saying. Been there, done that.
The AdvisorShares Psychedelic ETF is down 80% right out of the gate! And yes, we think that’s funny (tragically funny). But at the same time THIS is when you go hunting.
ADVISORSHARES PSYCHEDELIC FUND (PSIL)
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