This is an interesting stock that gets exposure at times. A Royalty based Cannabis stock that claims to be the leader in cannabis Royalty partnerships. One would have to review filings to discover the possible potential or ... risk. The partners page on the website has disappeared.
The charts are setting up for a highly positive turn around from these support levels to retest the resistance in the $1.01-$1.08 region. Although chart purist might claim we have broken support. On the fundamentals, Imperial Tabacco has purchased at least 20% of the company via secure investment announced this summer and completed in September (convertible to shares at market depressed prices). The market has not seen this as positive but as royalties start flowing in, it should be interesting to see what happens. If the royalties underwelm, this will be a 5-25 cent stock before retrending up. The CFO has purchased half a million dollar shares in the past months following the tabacco investment deal so unless that was all backroom dealing, CFOs tend to know the numbers and no other cannabis stock CFOs are buying. $OGI (Organigram is also a notable CFO buying exception)
The low cost money is exactly what Auxly needed. The next big milestone should be the merger with a much better named company and ticker symbol. Uplisting from the lower ventures to the TSX and US big boards would surely be the catalyst this train wreck needs to get back on track.
It's highly notable that it's one of the few cannabis stock to have head its summer lows. There is strength in this weakness if you want to convinced yourself this highly speculative stock is worth it here. Could be a very easy ride to the $1.00 small pullback and taking off for a quick 2x or 3x. Longer term will be dictated by the earnings release. The projections were grandiose - let's see if this is all "smoke and mirrors" or the real cannabis royalty leader in this space.
The charts are setting up for a highly positive turn around from these support levels to retest the resistance in the $1.01-$1.08 region. Although chart purist might claim we have broken support. On the fundamentals, Imperial Tabacco has purchased at least 20% of the company via secure investment announced this summer and completed in September (convertible to shares at market depressed prices). The market has not seen this as positive but as royalties start flowing in, it should be interesting to see what happens. If the royalties underwelm, this will be a 5-25 cent stock before retrending up. The CFO has purchased half a million dollar shares in the past months following the tabacco investment deal so unless that was all backroom dealing, CFOs tend to know the numbers and no other cannabis stock CFOs are buying. $OGI (Organigram is also a notable CFO buying exception)
The low cost money is exactly what Auxly needed. The next big milestone should be the merger with a much better named company and ticker symbol. Uplisting from the lower ventures to the TSX and US big boards would surely be the catalyst this train wreck needs to get back on track.
It's highly notable that it's one of the few cannabis stock to have head its summer lows. There is strength in this weakness if you want to convinced yourself this highly speculative stock is worth it here. Could be a very easy ride to the $1.00 small pullback and taking off for a quick 2x or 3x. Longer term will be dictated by the earnings release. The projections were grandiose - let's see if this is all "smoke and mirrors" or the real cannabis royalty leader in this space.