SEED Innovations are trading near all-time lows after a string of uninspiring updates by portfolio companies eroded the value of the company.
SEED Innovations shares were trading at 1.71p at the time of writing. The stock is down 34% in 2023 and 89% over the past five years.
SEED Innovations was previously known as FastForward Innovations before changing its name in 2021.
The cannabis-focused company has released a number of updates on portfolio companies in recent weeks, none of which have sparked a sustainable bid in the stock.
SEED shares were little moved last week despite portfolio company Little Green Pharma’s revenue jumping 89% to A$19.9m. SEED Innovation holds a 2.45% stake in Little Green Pharma.
Another portfolio company, AQUIS-listed Yooma Wellness had its shares suspended recently after failing to make annual filings.
Ed McDermott, SEED’s CEO, commented at the time:
“It is disappointing to see Yooma’s shares suspended from trading on the CSE and Aquis today. Whilst Yooma expects to make its Annual Filings as described above, this follows the widely reported very poor operational performance in recent months.”
SEED recorded a 1.18x return on investment in South West Brands as the brand agreed on a sale to OTO International Ltd. SEED invested £500,000 and made a £90,000 profit.