Tucows Inc

TCX remains entrenched in a Stage 4 downtrend after a decisive support failure, and recent upside extension above declining EMAs is likely unsustainable. With no mean-reversion eligibility and continued distribution on down-moves, the medium-term bias stays bearish. Given the short-term extension, timing favors selling now on signs of resumed weakness.

• ↑Q1 net revenue +2% YoY to $96.7M; Think Internet segment $19.4M (+19%).
• ↑Operating cash flow turned positive at $3.5M vs -$11.3M last year.
• ↓Q1 net loss $18.1M ($1.63/share) vs $15.1M last year.