Why Auxly Cannabis Group Stock Grew ~6.75% on January 25

Stock performance

On January 25, on the OTC markets, Auxly Cannabis Group’s stock price closed at $0.72, which is ~6.75% higher than its close of $0.67 on January 24 and reflects ~8% growth YTD (year-to-date). The stock grew from $0.69 on January 18 to $0.72 on January 25, representing ~3% growth in the week ended January 25.

The company hit a 52-week high of $1.92 on January 29. Its peers Vivo Cannabis (VVCIF), Cann Group (CNGGF), and Hexo Corp (HEXO) grew ~27%, ~8%, and ~49% YTD in January.

Why Auxly Cannabis Group Stock Grew ~6.75% on January 25

On the Toronto Stock Exchange, Auxly Cannabis (XLY) stock closed at 0.95 Canadian dollars on January 25, which is ~7.95% higher than its prior day’s close, a ~58% premium over its 52-week low of $0.60 on December 24, a ~60% discount to its 52-week high of $2.36 on January 29, 2018, and ~4% YTD growth in January 2019.

On January 24, the company entered an agreement with Curative Cannabis, after which the stock saw steady growth. To learn more about the transaction, see Auxly Cannabis Group Enters Agreement with Curative Cannabis. On January 9, Auxly completed its acquisition of Inverell.

Financials in a nutshell

Analysts expect Auxly Cannabis’s net revenues in fiscal 2018 at around 3.35 Canadian dollars. In the first quarter of 2019, Analysts expect Auxly Cannabis to generate revenues of 4.2 million Canadian dollars. Analysts also expect the company’s net revenues in full-year 2019 at around $112.38 million.

Auxly generated net revenues of 512,000 Canadian dollars over the first nine months of 2018. The company’s net cash and cash equivalents amounted to 236.9 million Canadian dollars at the end of the third quarter of 2019.