This post first appeared on Micro Cap Daily
Auxly Cannabis Group Inc. (CVE: CBWTF) stock price is once again seeing growth, after experiencing a decline in mid-April. The price has been relatively stable in 2019, at least when compared to large, sharp ups and downs seen in the previous year. Its behavior has been much milder in 2019 so far, with the price mostly fluctuating between $0.6 and $0.8. CBWTF approached its resistance several times in January, followed by mild corrections each time.
In February, the price dropped below its support level at $0.6, although it surged back up in mid-March, reaching $0.8 once again. The surge was followed by another correction in the final days of March, which was followed by yet another growth to $0.7 in mid-April. The fluctuations appear to be getting smaller and smaller, with the price approaching stability.
About Auxly Cannabis Group
Auxly Cannabis Group is a Canadian vertically integrated cannabis firm, born from the desire to help cannabis license applicants reach proper financing solutions. However, while this was the original idea, the company evolved in time, and it became a platform spanning the entire cannabis value chain.
Auxly has grown its’ business a lot since the early days, and it currently operates on an international level, with a business model that adapts excellently to cannabis space. Its flexibility, and economic resiliency act as a guarantee of providing value to long-term shareholders.
The company itself was led by visionaries and professionals — those who recognized the industry’s potential early on, and who dedicated their lives to improving it. The value created for their partners, shareholders, and the industry itself is one of the main products of their expertise and effort. The company’s employees are part of a massive, international community that includes product innovators, cultivators, developers, and distributors — all committed to expanding the industry and making it better.
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Auxly’s recent progress and moves
Like any other company, Auxly has had its ups and downs. In the past 12 months alone, the company has seen a lot of development, and while some of it was negative, there was still enough positives to allow it to prosper.
The company’s stock price provides a clear picture of these developments and moves, and it shows two massive price surges in the last nine months. The first one came in mid-August 2018, just after the company announces receipt of Dealer’s License for Dosecann Facility. Soon after that, the company partnered up with Cannabis OneFive, which was likely the main reason for the stock price boost. It also completed the acquisition of KGK Science, which only helped the growth.
The company’s efforts did not stop during September and October, either. Auxly partnered up with Delta 9, as well as Aphria, Lotus Ventures, Aneh Bosm Biotechnology Inc., and finally — FSD Pharma. However, the partnership with FSD Pharma was the one that soon became more of an issue than a benefit to the company.
After the partnership was established, Auxly discovered several contractual breaches made by FSD Pharma. The other firm’s facilities were not up to the standard that Auxly demanded, and the company pointed it out, asking for FSD Pharma to react and resolve the issues. With the other company failing to do so, Auxly had no choice but to terminate the agreement.
They did it regretfully, and allegedly with no material damage, despite making a large initial investment. However, while Auxly’s report was meant to calm the investors, many saw the termination of a partnership as a bad thing, failing to see that Auxly avoided potential future scandals by acting early. The move affected its stock price, which dropped down significantly, and it never made another attempt to reach the previous heights.
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However, Auxly seems confident enough in their business practices, and the firm continued with its partnerships, acquisitions, and license obtaining. The stock price had seen several positive moves since then, as mentioned earlier. Investors can witness one of them right now. The company’s stock price has just started its new growth, with the price going up by 1.43% in the last 24 hours. At the time of writing, the price sits at $0.62279, although it is likely to once again approach $0.8, and potentially even break this resistance — making this the perfect time to invest. We will be updating on Auxly when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Auxly.
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Disclosure: we hold no position in Auxly either long or short and we have not been compensated for this article.
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This post first appeared on Micro Cap Daily