Aleafia Stock Consolidates Ahead of the Q3 Earnings

Aleafia stock

Aleafia stock has been consolidating within a narrow range over the past few weeks as Aleafia Health (TSX:ALEF) (OTCQX:ALEAF) is all set to report its earnings next week.

The past few months have been a rough ride for the cannabis sector, and many companies have seen their stock prices plunge considerably from record highs. Hence, there is a lot of anticipation among investors and market watchers regarding the earnings season.

Key Numbers to Watch

One of the companies that is almost always closely watched by the market is Aleafia Health, which is going to release its Q3 2019 financial results on November 12. The announcement was made by the company back on October 24, and there is no doubt that many investors are waiting eagerly for the results next Tuesday.

According to the announcement, the results are going to be published before the opening of the markets at 8:30 am Eastern Daylight Time. In addition to that, the company will host a conference call in which the management will talk about the performance during the third quarter.

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Aleafia stock is trading flat at $0.72 on the TSX.

The conference call will be led by Geoffrey Benic, the Chief Executive Officer and by Benjamin Ferdinand, the Chief Financial Officer. This is a very important quarter for the company since back in September, Aleafia Health management projected that the company was going to turn a net profit in Q3.

If this turns out to be true, this will be the first time that the company reports a profit, and if it is able to do so in such trying market conditions, then it is definitely going to be a tremendous feat. That being said, Aleafia did not provide a range for the net profit, nor was there any specific revenue guidance provided.

Aleafia has not been particularly active with acquisitions like many of its peers and currently boasts of a cash balance of as much as $51 million. However, it goes without saying that if the company fails to actually turn a profit, then Aleafia stock could come under pressure.

What are you expecting from Aleafia Health’s Q3 results?

>> Read More Aleafia News

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