Auxly Cannabis Group Inc. (OTC: CBWTF) provides financial services to the growing cannabis industry. It offers, banking, investment, and broad financial consulting services. The company has been able to capitalize on the growing cannabis market, particularly in its home country of Canada. As more producers enter the North American market, Auxly could capitalize on their growth.
The company has extensive experience in financial services, having been founded in 1987. The company has made strong vertical investments in the cannabis industry in North America and Uruguay. Its investment chain covers cultivation, research and development, and distribution platforms.
Auxly stock dipped heavily in 2018 and it had a rough start to 2019. Cannabis stocks have not expanded as some investors had hoped, which has left Auxly being sold for bargain prices. That creates an opportunity for investors who are willing to take on some risk. The United States has recently legalized the hemp industry on a federal level, which could create new opportunities for Auxly.
The company continues to invest in expansion and currently has more than $200 million of cash and cash equivalent assets. With continued strong fiscal management, this will be one cannabis industry stock to watch.
- YTD Price Growth: -1.37%
- 3 Month Price Growth: 78%
- 1 Month Price Growth: 96%
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