The streets are talking. To us. Wall Street and Bay Street that is.
We normally speak with a number of instiutional investors every week. Below are filtered and redacted summary notes from this past week about what we have talked about to a limited number of institutional investors.
This is not an entire list and includes only our coverage universe. I filter for things that have the potential to have been said to push a position in a stock. I redact information that can be deemed as sensitive for the investor in any way or that can lead to a more unattractive trading price for them. This includes any future decisions they may take. All identities of individuals and firms we speak with are fully redacted.
The purpose of this is to show that we take into account the strategies and thought process used by major institutional buyers and sellers of the stocks we cover.
Aphria (APH-TSX) – Three Canadian institutions (two $1 billion+ and a $100 million+ AUM firms) exited their positions earlier this year/end of last year due to *Redacted* and *Redacted*. One stated that they can see APH being the leader in wholesale pricing, it’s just a matter of *Redacted*. They were also surprised by the opposite end of the trade we took on the stock call. Two investors asked about the *Redacted* market and the opportunity there, as a number of producers have already made announcements with this. We disagreed as to the future materiality on profits from these strategies. Another institution believes that after researching the market more that estimates for *Redacted* are too high. The stock reminded them of *Redacted*. For that stock, after the catalysts played out in *Redacted*, *Redacted* happened.
Netflix (NFLX-NASDAQ) – One $100 million+ AUM firm stated that we are valuing it the same way they do, in terms of *Redacted*. A $10 billion+ U.S. firm stated they have good visibility on metrics such as *Redacted* and look at it on movement here.
