$IXHL Hello everyone. As we head into what could be a life changing week for many including myself, here is my final thesis which is bullish. These points are listed in the order of priority for my mind and my trading. As always this is just an opinion and I am not offering any financial advice.
Why I am a long term buyer of $IXHL
1. The company is a good company with solid and innovative offerings. Unlike a lot of biotech, it has multiple medications progressing through the approval process. There is a very friendly administration who is signaling administrative support based on literature for utilizing cannaboids and hallucinogens (microdosed). These medications have a very wide set of conditions for which they are useful, and the literature, theory, receptors targeted with these medications all very much so make clinical sense to me. It has an unusually wide moat for a stock this size, and it all looks promising.
2. The balance sheet is improving and fairly clean at this point. Understanding the dilution required for having liquidity for the tight spots where cash is an issue, while not liking being diluted, it is reasonable to understand why it was done. More importantly, share buyback having been initiated, as well has having phase 3 fully funded seriously reduces the risk of investing.
3. Technical analysis over the last 90 days is solidly bullish. Higher higher and higher lows. We have some superb technicians on this board. While I believe technical analysis is importsnt, to be it helped me confirm my conviction. It is difficult to trade on technical factors alone. In the case of this stock, the technicals are falling in line with the leading indicators. Remember technical analysis is only able to look at the past. Still nice to see significant uptrend.
4. From a strategic standpoint it looks like company leadership is foreshadowing what is to come. Stocks that are iffy or dead in the water are not moving to international hubs know. For both wealth and major names in the same city. Particularly since Dubai has Particularly zeroed in on biotech.
From fundamentals to financials to the trend on the chart to upcoming events I believe all elements are aligned and the fast tracking of its first drug certainly is turning heads. FDA wants this drug on the market briskly.
In some ways I thought this week would never get here. But here we are. The work is done everyone is in a position they think is best for themselves including me.
To best of luck to all this week. I am sure Tuesday night into Wednesday morning until PM I will be hyperventilating. Maybe we should have an overnight party as the AGM progresses. I will bring the Disoranto or the 21 year old Irish whisky and hope to toast all bulls with a shiny new 1.xx handle on the tape.
Be well.
