RE:This board needs to change.Pointing the finger at anyone doesn't make any sense.
Everyone who bought shares of XLY, bought shares of a company that does not generate revenue.
If we attempt to value this company based on projected revenues, then sure we are very undervalued, minus the fact that we don't "currently" generate a large yield of cannabis..."yet"
Any company with high valuations that have been priced in based on projected revenues are companies that have actually produced cannabis. See Auxly investor page for ramp up schedule. I believe when they ramp up thier cannabis production in Q4 here, that a valuation can begin to be formed.
I hope that when the deal at $1.40 was stamped by BMO, that people waited for the stock to dip, shorts to cover and that they bought in at a great level. This short play that we saw nto too long ago, could be repeating itself again. Be cautious of this and be sure to have cash on hand to average down.
So yes, we can point fingers at management, but they are doing what they said they would do. Just proves that most people aren't patient. Even more so that companies with a similar cannabis yield had outperformed.
Buy, hold long.
12 month target: $2.64
24 month target: $8.00+