Short-seller Andrew Left of Citron Research sounds off: take profits in Aphria, short Cronos Group

Famed short-seller Andrew Left of Citron Research was taking profits in Aphria Inc (NYSE:APHA) while shorting Cronos Group (TSE: CRON) on Friday. 

Markets didn't seem fazed by the news, with shares of Aphria up 8.7% to $9.50 USD

in afternoon trading while Cronos Group (CRON) climbed 8.5% to $21.35.USD

In a tweet, Citron Research said it was focusing investing effort on US cannabis stocks, having decided that "Canadian weed" has "run too far". 

Aphria shares also saw a boost, thanks to a Bloomberg report saying that Green Growth Brands is flexible and open to negotiations about its unsolicited bid for the Canadian cannabis company. Under the deal’s current terms, Ohio-based Green Growth has offered Aphria stakeholders 1.5714 shares of Green Growth stock for each Aphria share.

CIBC focuses on handful of players 

Left pointed to a report by CIBC released earlier this month that said it expects only a handful of players to end up dominating the global cannabis market.

“We believe Canopy and Cronos are likely to be two of those winners,” the authors wrote in the report, which was titled “The Beginning Of A Global Seismic Shift.”

“We view Aphria as a manufacturing and automation expert but believe concerns about capital allocation and corporate governance could deter investors," said the report. 

https://www.proactiveinvestors.com/companies/news/213836/short-seller-andrew-left-of-citron-research-sounds-off-take-profits-in-aphria-short-cronos-group-213836.html

Hexo Buy And Sells

House Positions for C:HEXO from 20190201 to 20190201

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
79 CIBC	2,756,529	20,847,043	7.563	1,995,376	15,089,170	7.562	761,153	-5,757,873
7 TD Sec	1,237,836	9,360,266	7.562	1,053,598	7,949,029	7.545	184,238	-1,411,237
65 Goldman	61,002	460,232	7.545	2,245	17,051	7.595	58,757	-443,181
35 Friedberg	36,267	272,757	7.521	0			36,267	-272,757
39 Merrill Lynch	337,547	2,553,177	7.564	311,477	2,350,358	7.546	26,070	-202,819
99 Jitney	123,700	934,685	7.556	106,200	804,951	7.58	17,500	-129,734
19 Desjardins	218,123	1,646,263	7.547	210,984	1,589,363	7.533	7,139	-56,900
74 GMP	61,300	459,026	7.488	54,300	407,650	7.507	7,000	-51,376
85 Scotia	408,229	3,091,524	7.573	404,915	3,059,020	7.555	3,314	-32,504
57 Interactive	10,096	76,747	7.602	7,718	57,573	7.46	2,378	-19,174
124 Questrade	120,048	908,627	7.569	118,339	892,352	7.541	1,709	-16,275
76 Industrial Alliance	2,400	18,125	7.552	900	6,768	7.52	1,500	-11,357
143 Pershing	5,973	45,231	7.573	5,684	43,482	7.65	289	-1,749
89 Raymond James	1,300	9,826	7.558	1,500	11,140	7.427	-200	1,314
36 Latimer	4,733	35,630	7.528	4,989	37,688	7.554	-256	2,058
15 UBS	0			300	2,268	7.56	-300	2,268
22 Fidelity	0			1,000	7,500	7.50	-1,000	7,500
72 Credit Suisse	0			1,400	10,570	7.55	-1,400	10,570
70 Manulife	1,650	12,423	7.529	3,550	26,432	7.446	-1,900	14,009
59 PI	0			2,000	15,000	7.50	-2,000	15,000
14 ITG	5,450	41,057	7.533	8,400	62,812	7.478	-2,950	21,755
48 Laurentian	1,000	7,600	7.60	4,255	32,213	7.571	-3,255	24,613
62 Haywood	0			4,700	35,553	7.564	-4,700	35,553
88 Credential	36,091	272,347	7.546	41,520	314,032	7.563	-5,429	41,685
90 Barclays	0			5,600	42,117	7.521	-5,600	42,117
5 Penson	155,552	1,176,086	7.561	167,536	1,269,405	7.577	-11,984	93,319
28 BBS	7,603	57,829	7.606	22,291	168,549	7.561	-14,688	110,720
53 Morgan Stanley	6,371	48,015	7.536	25,000	188,549	7.542	-18,629	140,534
9 BMO Nesbitt	215,991	1,625,628	7.526	246,184	1,862,455	7.565	-30,193	236,827
80 National Bank	221,394	1,673,544	7.559	299,772	2,272,040	7.579	-78,378	598,496
13 Instinet	136,890	1,034,221	7.555	215,595	1,632,599	7.573	-78,705	598,378
2 RBC	519,075	3,914,787	7.542	664,808	5,032,719	7.57	-145,733	1,117,932
33 Canaccord	22,255	171,432	7.703	238,897	1,809,076	7.573	-216,642	1,637,644
1 Anonymous	993,145	7,511,467	7.563	1,476,517	11,166,111	7.562	-483,372	3,654,644
TOTAL	7,707,550	58,265,595	7.56	7,707,550	58,265,595	7.56	0	0