RE:Auxly Cannabis Upgraded to Outperform at Raymond James davgro wrote: 2022-08-16 10:06:53 AM ET (MT Newswires)
10:06 AM EDT, 08/16/2022 (MT Newswires) -- Auxly Cannabis Group Inc. (XLY.TO) was upgraded to Outperform from Market Perform at Raymond James.
Analyst Rahul Sarugaser raised his price target on shares of the Toronto-based cannabis company to $0.15 from $0.10 following its second quarter results.
"XLY put together an outstanding quarter of top-line and bottom-line improvement, driven primarily by the company ramping up (and tightening up) its large-scale cultivation operation: Auxly Leamington," Sarugaser said in a note to clients.
"With continued capacity, quality, and yield improvements at its Leamington site, XLY, in our view, is primed for market capture in the flower and pre-roll categories through the back half of the year," the analyst said.
So let me get this straight. A week before Auxly reports Q2 the SP is trading at C$0.09 and trending upward. Just then the 'analysts' at Raymond James put out an extremely negative 'hit piece', downgrading the stock that gets picked up by Seeking Alpha and splattered all over place.
The positive momentum Auxly had approaching the Q2 report drops off and the SP drops.
Then Auxly Q2-2022 exceeds all analysts predictions. Raymond James analysts stand corrected and immediately upgrade Auxly to 'outperform' once again but this time Seeking Alpha says nothing.
Considering the level of influence and breadth of coverage Seeking Alpha wields, failing to follow up and report the changes made by Raymond James analysts following Auxly's Q2 is outright irresponsible and borders on negligence as it demonstrates a clear failing of objectivity on the part of Seeking Alpha. IMHO.
This is the kind of thing that highlights the manipulation that runs rampant in the markets. I guess it is a thing; the stock markets are about money and that has nothing to do with 'truth.'
Who's paying who, to do what?
It's all bloody BS !!
Auxly on track to break C$120mil NET Revs with only a C$62mil MC?? BS!!
Valens sits at twice Auxly's current MC even they have lower Revenues and half the market share of Auxly. BS!!
BS! BS!! BS!!!
cheers