Cannabis Growth Opportunity Corp investors getting rewarded (CSE: CGOC)
Cannabis Growth Opportunity Corp. (CSE: CGOC) had a nice pop on Friday rising 12.5% to close at $1.80 per share. I haven’t been able to find a specific event to account for the stock price increase.
Perhaps investors are waking up to the fact that CGOC is a true, value opportunity. The chart above shows that even after a healthy bounce, the shares are still trading at a discount of over 42% below Net Asset Value. This is about the level that prevailed in January, April and June and still a larger discount that the shares traded at in February, March and May. It is still nearly double the 23.0% discount in July one year ago.
My expectation is the shares can trade at an even more attractive discount than July 2018. If that happens, today’s investors will be well rewarded.