Post by
HightideHippie on Apr 04, 2021 3:46pm
Institutions buying hard, read.
Marketbeat, in Q1 alone, hedge funds and mutual funds poured a net amount of $190 million into Aphria, and this numberis most likely an underestimate. Yahoo finance has Aphria’s institutional ownership at 19%, up from about 10% a month ago. Rapid increases in institutional ownership are almost always a bullish sign. This change in institutional ownership is unprecedented, and too significant to ignore. While Aphria has already seen a major influx of institutional capital, at 19% there is still a lot of room for institutions to come in and scoop up shares. As this happens, shares will become scarce, and demand will be greater than the supply, and the share price will adjust itself accordingly. With a price to sales ratio of 9.87 and price to book ratio of 3.6, Aphria on a valuation basis is attractive when compared to its peers.
Comment by
tracker11 on Apr 05, 2021 6:53am
https://www.barrons.com/articles/fund-bought-up-marijuana-stock-aurora-cannabis-mastercard-sold-visa-shopify-51613142795
Comment by
K2money on Apr 05, 2021 9:55am
The article is from Feb 15. Not relevant right now. another friggin bloodbath for this go nowhere POS.