RE:A Trend Reversal Here Too?? The mj space has fallen victim to a savage ravenging of selling pressure lately. Naked shorts openly and indiscriminately flung around. As much as 80% and more of daily trading volumes has become common place.? Not just Auxly. Throughout the sector.
So many expectations resting on the legislative machines that have repeatedly cast the question aside in so many jurisdictions. Repeated failings of expectations combined with shananigans a plenty, resulting weakness combined with opportunistic actions all culminating in a sector wide pull back.
AUXLY and many of its competitors have suffered significant reductions to their market capitalization.
Unlike its counterparts Auxly has NOT been relying heavily on the lofty promise of wide open boarders and world domination of a global mj market. As sexy as that may sound...
Instead, Auxly has successfully focussed on growing real market share in Canada.
Just the same, Auxly has not been immune to the bludgeoning currently occurring in the mj space. As a result Auxly remains significantly undervalued compared to its piers.
Auxly has cash in hand to help weather a storm and see it through to profitability.
The stock market may be depressed but cannabis retail sales numbers continue to rise in Canada.
Did you see this coming? Did Hugo and Auxly Management see it?? Thank goodness they financed when they did. Seeking financing in this environment might prove difficult, to say the least. Other LPs are completely cash strapped... Sucks to be them.
Hard to say exactly when this turns but it WILL pass. These things usually work themselves out.
This storm may not be over yet but AUXLY is on course to get through it.
Hold Tight Mates !!
cheers