Elixinol Global Ltd (ELLXF)

[ShtockMahket]

Last two quarterlies have been extremely weak. Sentiment is going to be consistently pessimistic as long as this is the case and it's unlikely ELLXF can follow broader sector rallies. That's why we're down 50% from ATHs instead of rallying strongly back toward highs like certain other stocks in this space. Nothing to preclude a short-term pop near oversold levels right now, but the days of cannabis companies managing to maintain insane valuations and rally on weakness are over. The sector is returning to reality and so is ELLXF. Best case as I see it is extreme chop until Q3 earnings... if top line growth accelerates a bit and they don't burn as much cash, maybe a more sustainable rally toward previous levels can occur. For now, I'm not seeing it, personally.