RE:RE:XLY should be rising in price...I'm glad they get rid of FSD Pharma, It has nothing but huge empty building and dont / didn't know what to do with it. Watch how FSD Pharma deapear from the market among the first companies...
As for XLY share price - just look when stock market go down into intermediate cycle low and all canabis stocks with it. XLY will be in a " special" spot. I was in hope I do not see 0.70c CAN again. Anyway, sold 22k shares today, 4k left. Paid price for my stipidity do not sell when they pumping it...., after more then 10 yrs of trading still can't control my emotions. Good luck to all.
EbbFlow88 wrote: What's your thesis behind this price target? Momentum? Value?
The only reason this company has this market cap is because they are in the weed sector. They have no sales, large capex and SGA costs and writedowns. -67M!! 20M of share based payments, 7 M in interest cost and 9M in impairments, 5.5M on settlement of financial liabilities...
Also the dilution is real. 800M S/O fully diluted. They will need to continue to invest heavily to have a shot at having any market share in a very competitive space with commodity pricing. Atleast they are trying to differentiate with derivative products.
Also, I'm very curious to know what really happened with FSD Pharma. Regardless which party was responsible it doesn't look very professional.
GLTA but I wouldnt touch this with a 10 ft pole