I have posted once before re BXN.
I suspect that after such a sterling run, there are serious profit takers at work.I hope they are not just panicking., I feel compelled to dispel a little confusion there is with some other posters.
1 - The comparison with Vitura and ECS is wrong. Vitura is focused on patients and clinics.
They also have had a very public spat. with the senior shareholder selling out and litigating.
2-Ecs really is a farmer. That brings potential high overheads in Australia- A Capital hungy model.-growing and selling a specific brand.
3- The only real comparison is Australian Cannabis Group. Reputation???
4- BXN is really a story about COGS,scale and efficiency.. They will do a good job with white labels and brands.
Plus you get the international aspect of the business . I think there will be major movement there in the next 2 years.
My understanding of the market is that Australian clinics and middlemen have been crying out for a local, reliable Australian supplier.
It will be interesting to see what the Company reports for H1- results. They should be out soon.
I do agree that the enthusiam of the market may have got a little ahead of itself, however they are now a screaming bargain in my opinion.
I continue to hold.
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