Ecofibre Appendix 4C | Has this Diversified Hemp Company Become a Buy?


ASX diversified hemp company, Ecofibre (EOF), released their Appendix 4C on April 27. After EOF listed on the ASX in early 2019, there was a fair bit of hype around this company. Arguably, fairly so, as receipts were growing and they were OPCF positive by between $3-4m for two quarters. The share price reflected this positive sentiment, increasing to nearly $4 by the end of 2019.

However, business has turned around, receipts are dropping and the share price has fallen off a cliff (currently around 55c). In saying all that, volume has rapidly increased in the last few weeks suggesting the market is possibly seeing value at these prices.

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