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Body and Mind Inc (OTCMKTS: BMMJ) Targeting Fresh Highs



BMMJ stock

Body and Mind Inc (OTCMKTS: BMMJ) is a fundamentally attractive investment after a minor correction. The stock has been on an impressive run after an excellent start to the year that saw it rally by more than 400%. The stock has since corrected lower in what appears to be as a result of investors taking profits.

BMMJ Stock Price Analysis

The stock has once again started showing signs of bouncing back to 52-week highs on renewed investor interest. The upward momentum has received a boost on the company securing a C$10 million financing through private placement financing.

With the new finances, the company remains well positioned to expand production capacity as well as build out dispensaries. The management has also confirmed plans to expand operations, a development that continues to excite the markets.

The company has already set foot in Arkansas after inking a strategic partnership with in-state partner Comprehensive Care. Ohio is another cannabis marketplace that the company has set sights on having already launched retail cannabis operations.

While the stock has pulled lower in recent weeks, investors reacting positively to recent developments could as well indicate the stock is on its way back to 52-week highs. A bounce back from the $1.40 level has opened the door for the stock to make a run for the $2.7 level, seen as the immediate resistance level, standing in the way of further upside action.

BMMJ Daily Chart

A breach of the $1.40 support level on further sell-offs would leave Body & Mind vulnerable to additional drops in continuation of the downtrend.

What Does Body & Mind Do?

Body & Mind is a development stage company engaged in the production and distribution of medical and recreational marijuana. The Company’s cannabis product line is made up of dried flower, edibles topical as well as extracts and Lucid Mood offerings.

Why is Body & Mind a Bounce Back Play?

Body & Mind is a potential bounce-back play after a solid start to the year. The stock has rallied by more than 400%. A recent correction lower continues to attract bulls especially those who missed-out on the initial spike.

The company inking a deal for a $10 million financing means it is well financed to pursue initiatives that have the potential to accelerate growth crucial to strengthening market sentiments. The multi-state operator has already signed an agreement that paves the way for it to relocate its production facility close to the Pepper Lane cultivation facility.

The 7,500 square feet facility should be up and running within 90 days, poised to strengthen Body & Mind cannabis production capacity before the end of the year. With the new finances, the company intends to introduce new mechanization as well as automation equipment to support current product lines as well as SKUs and efficiencies.

Body & Mind has already started testing new edible, oil and extraction products that will be produced at the new facility once it is up and running.

“This is an exciting development for BaM as our production output has been limited by space constraints. The new facility will enable us to meet the increased demand for our products, allow us to serve our distribution partners better, and allow us to introduce new products,” stated Robert Hasman, President of Nevada Medical Group LLC and board member of Body and Mind.

The inking of a strategic partnership with Comprehensive Care paves the way for the company to open medical marijuana as part of an effort of expanding the retail network. Body & Mind has also submitted drawings and engineering of a proposed retail store that it intends to construct in the state as part of its growth and expansion strategy. Plans are underway to have the store up and running by the third quarter.

After commencing retail operations in Ohio, in February, Body & Mind has continued to register increased sales as margins also continue to improve on optimization efforts gaining traction.

What Next for BMMJ stock?

After a solid start to the year followed by a spiral downwards in recent weeks, BMMJ is likely to resume its uptrend. Recent developments signal a company in a phase of robust growth with tremendous potential that continues to excite investors.

As it stands, bulls are likely to continue buying on the dip as underlying fundamentals support further upside action in line with the long-term uptrend.

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Disclosure: We have no position in BMMJ and have not been compensated for this article.

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MJ Stocks

What Do Investors See In Medical Marijuana Stock (OTCMKTS:MJNA)?



Medical Marijuana stock

Medical Marijuana Stock (OTCMKTS:MJNA) has emerged as one of many investor’s favorite pot stocks in the legal cannabis universe in 2020. The stock is already up about 10% in 2020, demonstrating how investors have warmed up to the stock early on in the New Year.

Following a disastrous 2019, cannabis investors lost money but have also learned that their best bets are stocks with strong fundamentals. They are looking for companies that have positioned themselves well in the cannabis industry and have what it takes to go for the opportunities. That is why MJNA stock is catching a lot of investor attention in 2020 because of how it has positioned itself in the cannabis market.

Robust revenue growth and strong financial position have also helped put MJNA on the radar of investors hunting for quality cannabis stocks. Revenue at MJNA more than doubled from $26.5 million in 2017 to $60 million in 2018. MJNA is also not in financial distress as may be the case with other cannabis companies out there. The company finished the third quarter, the most recent reported period, with $5.5 million in cash reserves.

Moreover, MJNA has recently taken steps to expand into new international markets and invest in companies that are leaders in their segments. These prudent actions are helping lift Medical Marijuana stock as more investors learn about them.

About Medical Marijuana stock

Medical Marijuana…

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MJ Stocks

Is Tilray Inc (NASDAQ:TLRY) A Buy Or Sell?




For Tilray Inc (NASDAQ:TLRY) and the rest of cannabis stocks, 2019 was no doubt a bad year. But 2020 is shaping up to be a promising year for the stock. To start with, Tilray stock has already gained 8.35% year-to-date. If that says anything, it shows following the broad selloff in Tilray stock last year, we’ve got to a point where sellers are giving way to buyers in the stock.

There are several catalysts that should continue driving NASDAQ:TLRY as you’re about to see. First, below is a brief profile of the company we’re discussing.


Tilray is a Canada-headquartered global cannabis company. It is engaged in activities of cannabis cultivation and processing as well as marketing and distribution of cannabis products. Tilray already has several cannabis products brands to its portfolio. It operates across five continents through subsidiaries in Canada, Australia, Germany, and Portugal.

Following the broad collapse of cannabis stocks in 2019, investors are looking for cannabis stocks that can make a positive impact on their portfolios in 2020. Tilray stands out as an attractive cannabis stock pick in 2020. Here are some of the exciting things about the company.

Tilray CEO sees a bright future for the cannabis industry

On January 25, Tilray CEO Brendan Kennedy spoke on Bloomberg. In that interview, Kennedy framed a rosy outlook for the…

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MJ Stocks

Is Cronos Stock (TSE:CRON)(NASDAQ:CRON) A Buy?



Cronos Stock

Cronos Stock (TSE:CRON)(NASDAQ:CRON) stock fell 9.22% on January 24, marking its steepest decline so far in 2020. The stock plunge followed an important disclosure that you would only expect from a company that is trying to be straight and transparent with investors. Here’s what happened.

On January 22, after market close, Cronos made a regulatory filing detailing changes in its executive team. In that SEC filing, Cronos revealed that David Hsu and William Hilson have stepped down as its chief operating officer and chief commercial officer, respectively. Unfortunately, some investors read bad news in the executive exits and sold their shares in Cronos.

But a careful reading of the filing doesn’t seem to raise any red flags. Therefore, the big stock plunged points to investors panicking to the degree of responding to a mosquito bite with a missile.

There is no doubt that 2019 was a difficult year for cannabis stocks and Cronos Stock is no exception. But before the uncalled for reaction to Cronos’s regulatory filing, we had been at a point where sellers were starting to give way to buyers in Cronos stock. The stock has gained about 8.0% in the past one month. It had gained more than 13% year-to-date before the January 24 big selloff.

About Cronos Stock

Cronos Stock is a Canada-based global cannabis company. Cronos operates through subsidiaries and…

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