RE:RE:Thinking Positive here......They have no more money to make more deals at this time.
They have a healthly cash balance but funds on hand are needed to complete the current deals they have in place and for general operations going forward.
New deals would mean the need for new money.
Up to now XLY has raised the money on hand at $1.40-$1.50 per share so I do not think that have any desire, nor would I want them to issue more shares at these levels to raise more money.
I think they have a lot on the go and need to get the existing deals to the point where revenue is coming in and that as the company earns money look for opportunites to reinvest those earnings.
They have a busy 2019 ahead.
I think organic growth from here is best and XLY may be in a position to help facilitae megers and aquistions from its current parnter base as well.