Acreage Holdings Inc (OTCMKTS: ACRGF) is an investment firm headquartered in New York City and has several operations for cannabis. The firm went public in November 2018 on the Canadian stock exchange.
Acreage Holdings Stock Price Analysis
Acreage Holdings has a market cap of about $2.5 billion and owns a portfolio of marijuana cultivation, processing as well as dispensing operations in the United States.
Acreage Holdings’ price has been going down (even though it was trading higher at $24.24 at the beginning of the year). Currently, the stock’s price stands at $18.86 although it’s inevitable that the price would start getting up
How Has the Stock Performed?
Year to date, Acreage has gained more than 18.3% which is impressive given the fact that the company is still on the move going forward. Currently, the firm has cultivation, processing as well as dispensing operations across 14 states in the US.
The company started 2019 with a bang with the stock going up, and later it qualified to get listed on OTCQX marketplace, which happens to be reserved for firms with massive financial standards.
Subsequently, the cannabis firm completed the acquisition of Nature’s Way Nursery of Miami which is a Florida-based marijuana company. All the developments contributed to its rise in stock at that time. Although the price is relatively down at the moment, it’s inevitable that soon it will again start the upward trajectory.
Who hasn’t heard of the Canopy-Acreage deal?
Evidently, more and more significant deals take place in the cannabis industry, and the latest one is the deal between Acreage Holdings Inc. and Canopy Growth Corp. It’s far too way challenging to look at Acreage-Canopy deal and fail to see CGC as the winner. However, ACRGF will welcome the deal as there’s an influx of cash.
What about the letter of intent?
Acreage holdings and green acreage Real Estate Corp. entered into a partnership whereby GARE would purchase as well as lease back the Acreage marijuana-related real estate assets.
Will Acreage Holdings Rise?
Acreage Holdings has shown robust revenue growth alongside plowing money back into business for future expansion. With total cash at hand of more than $74 million, the company has sufficient enough funds for additional acquisitions as it seeks to boost production as well as its dispensary footprint.
Besides, the general cannabis industry is on an upward trajectory in 2019, and Acreage Holdings is without a day on the same path.
To ensure that it continues to rise, recently, the firm began Form Factory operations in the new Oakland facility whereby it plans to manufacture both the internal brands like Natural Wonder as well as external brands.
As it looks, the company’s strategy is designed in that it stays replicable hence promising a smooth way for expanding operations so as to meet the ever-increasing demand for cannabis.
Towards last year the firm opened 3 new dispensaries in Q4, and by March this year it had ramped up several store openings with an additional five stores. In the next quarter, revenue is expected to grow by 20%.
Ignoring the Loss
In Q4 2018, Acreage Holdings realized a net loss of $218 million, but almost $200 million was from unrealized losses on the derivatives as well as non-cash stock compensation. In general, the firm lost $10 million on revenue of $23 million.
The consensus is that Acreage is well-positioned to turn the tables regarding the price and support consolidation of the highly-consolidated marijuana market that is promising stronger growth onward. Undoubtedly, the firm has strong management with the latest addition of John Boehner, former Speaker of the U.S. House of Representatives, to the board of directors.
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Disclosure: We have no position in ACRGF and have not been compensated for this article.
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Terra Tech Corp (OTCMKTS: TRTC) A Bounce Back Play As Net Loss Narrows And Gross Margins Expand
Terra Tech Corp (OTCMKTS: TRTC) has retraced lower ever since it clocked 2019 highs at the end of the first quarter. The stock has crumbled under soaring bearish pressure. Amidst the steep pullback, the stock is a potential bounce-back play as it is currently trading at the lower end of a tight trading range.
Terra Tech Price Analysis
A plunge to the lower end of the $0.63 to $1 trading range leaves the stock in a precarious position. A plunge lower could elicit further selling pressure while a bounce back could result in the stock making run for this year highs.
In our view, the stock could bounce back on investors reacting to a string of positive developments that affirm the Company’s prospects. For starters, Terra Tech is fresh from launching a legal cannabis delivery services as it continues to pursue growth opportunities in California.
The Company is also fresh from delivering impressive financial results that indicate gross margin expansion as net loss from operations continues to narrow. The sale of Blum Desert is another development poised to strengthen the company’s financial position.
Terra Tech commencing cannabis sales to the adult use market should continue to excite investor’s, ideal for fuelling an upswing in the stock’s price action activity. With the stock appearing to have hit the floor after the recent pullback, a correction higher could be in the offing at the lower end of the trading range.
Namaste Technologies Inc (OTCMKTS: NXTTF) A Bounce Back Play On Robust Revenue
Namaste Technologies Inc (OTCMKTS: NXTTF) has had to contend with wild price swings, as investors reacted to delays in the filling of audited financial results and ousting of Sean Dollinger as the CEO. That could soon change, as the Company has come through and filled results that affirm robust revenue growth.
Namaste Technologies Price Analysis
However, concerns over widening net loss could hurt the stock’s sentiments in the market, at a time when it is in dire need of, groundbreaking catalysts to avert further slides. While the stock has bottomed out, it remains engulfed in a long-term bear trend.
The descending trend line could attract short selling pressure on the filling of negative news that arouse concerns about the Company’s long-term prospects. A spike to the $0.65 level essentially means the stock is at a critical resistance level.
Failure to rally and find support above the resistance level could elicit some form of selling that could see the stock trading sideways. Immediate support on any pullbacks from current highs is seen at the $0.40 mark.
A sell-off followed by a close below the $0.40 mark could result in Namaste Technologies resuming its downtrend, as has been the case for the better part of the past year. Conversely, a rally followed by a close above the $0.66 mark should pave the way for the stock to make a run for the $1.20 mark, seen as the next…
Cannex Capital Holdings Inc. (OTCMKTS: CNXXF) A Long-Term Play Despite Price Slump
A strategic merger with 4Front coming on the heels of Pure Ratios holding acquisition affirms why Cannex Capital Holdings Inc (OTCMKTS: CNXXF) prospects can only get better despite the recent price slump. The transformational events expand the Company’s operations into six U.S states signaling push for market value in the burgeoning cannabis sector.
Cannex Price Analysis
While Cannex has taken a significant hit in the market, it is still up for the year after an excellent start that saw it rally by more than 200%. The stock has since pulled lower in what appears to be a correction phase.
The ongoing pullback has since exposed the stock to a crucial support at the $1 a share level. A breach of the support level would leave the stock susceptible to further drops probably back to the $0.80 mark, a critical technical level.
For the stock to resume its uptrend, it first needs to rise and stabilize above the $1.20 mark, the immediate resistance level. The stock rallying and finding support above the $1.2 mark would open the door for bulls to fuel a rally back to 52-week highs.
Cannex is a diversified company that leases real estate properties and sells supplies to cannabis cultivators. The Company also offers financial services as well as branding and IP services to licensed cannabis operators. It is also focused on premium indoor cultivation extraction and branding of edible…