The problem with BXN is they are effectively a middle-man. They aren't growing the product and they aren't selling it directly to consumers. They buy imported product, turn it into gummies and then sell B2B. In other words they will be the first link in the chain to be cut when companies are looking to cut costs e.g a retailer could effectively buy product direct from a grower who also manufactures the product and save money. There is not much of a moat in the cannabis industry but there is even less for a company like BXN who is just a B2B manufacturer and doesn't even have their own brand out in market that consumers recognise e.g. they could stop operating overnight and nobody would even bat an eyelid.
Also, all manufacturers in Oz are GMP certified, so that's not a point of differentiation. I hope I'm wrong but I can't see this ending well.
BXN Price at posting:
1.3¢ Sentiment: None Disclosure: Not Held
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