A Tale of Two Cannabis StocksI have been watching the tumultuous collapse of AYR.A shares hitting new 52-week lows daily. So I decided to read the limited posts on the AYR.A bullboard to try and gain some perspective. Low and behold, HEXO's resident basher states he bought shares of this floundering US MSO on December 21, 2022 when the stock closed at C$ 1.75.
https://stockhouse.com/companies/bullboard/c.ayr.a/ayr-wellness-inc-sub-ltd-vtg-shs?postid=35186207 Today AYR.A stock is trading at C$ 1.02. Based on my rudimentary calculations that is a 58% decline in under 3 months. In that same time frame HEXO has appreciated 27% based on today's share price. I did not see any posts from this member since his original post on buying stock and I can't rightly assume that he is still holding a position but I would have expected a negative critique on how poorly AYR.A investors are doing. Hmmm.....
And while this stock continues to sell-off analysts are still rating AYR.A a Buy with the average target price of C$ 18.07. Just goes to show that many cannabis sector pundits really don't have a handle on what is happening in this sector.