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

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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

Is Neptune Wellness Solutions Inc (TSE:NEPT)(NASDAQ:NEPT) A Good Bet Right Now?

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Neptune Wellness Solutions

There is no doubt 2019 was a tough year for the hemp/cannabis businesses. However, there are a few hemp/cannabis stocks that still managed to make their investors proud. Neptune Wellness Solutions Inc (TSE:NEPT)(NASDAQ:NEPT) is one of those stocks. Investors who put their bet on Neptune at a time like this saw their investment increase 130% by July of last year.

Neptune Wellness Solutions is already off to a strong start in 2020. The stock has gained more than 15% in the past week alone. Looking at how Neptune has positioned itself in the hemp/cannabis market, you cannot dispute 2020 is shaping up to be a great year for the stock. Then you notice that Neptune insiders are deeply invested in the stock. Insiders own more than 17% of all shares in the company. The company’s market cap of $280 million shows that insiders alone have sunk $48 million in the stock.

You are about to find out more reasons why Neptune Wellness Solutions looks to be a good pick right now. But first, here’s what you should know about the company we’re discussing.

About Neptune Wellness Solutions

Neptune Wellness Solutions has been around since 1998 and is headquartered in Laval, Canada. It is engaged in the extraction, formulation, and packaging of value-added cannabis products for both Canadian and global markets.

This is shaping up to be Neptune’s year for a number of…

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Is Tetra Bio-Pharma (CVE:TBP) (OTCMKTS:TBPMF) A Smart Pick?

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Tetra Bio-Pharma

Investors will remember that 2019 wasn’t a great year for cannabis stocks, especially Canadian stocks. Issues from uncertainty over Canada’s national elections to shortage of cannabis retail stores in Ontario greatly weighed on Canadian cannabis stocks last year. These problems are largely out of the way and investors can now spot cannabis stocks with a promising outlook in 2020. Tetra Bio-Pharma (CVE:TBP) (OTCMKTS:TBPMF) is one play poised for a big breakout in 2020 as its drug products go on sale.

Tetra Bio-Pharma is one of the most promising cannabis stocks in 2020 and investors have really warmed up to the stock. At $0.50, Tetra stock has already gained more than 60% year-to-date. But that is just the beginning and we feel there is a great story to tell here. First, however, it is important for investors to understand the company we’re discussing.

About Tetra Bio-Pharma

For investors who may have just come across Tetra Bio-Pharma for the very first time, this is a Canadian cannabis company. It is focused on developing cannabis-based drugs for a variety of conditions, including cancer.

Tetra Bio-Pharma about to begin commercializing its drug products

As a drug company, Tetra Bio-Pharma is insulated from many challenges that face conventional cannabis companies. For example, companies that make adult-use cannabis products must cope with cutthroat competition in the market. Moreover, Canadian cannabis companies have Continue Reading

MJ Stocks

Why Investors Are Warming Up To Fire & Flower Holdings Corp (TSE:FAF) (OTCMKTS:FFLWF)

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Fire & Flower Holdings

The disastrous 2019 taught investors the importance of carefully screening cannabis stocks for great picks that can withstand industrywide shocks. That explains why investors are warming up to Fire & Flower Holdings Corp (TSE:FAF) (OTCMKTS:FFLWF) in 2020.

Fire & Flower Holdings has positioned itself to take full advantage of the recently expanded cannabis market under Cannabis 2.0. Investors are realizing that FFLWF is one pick that can make a huge difference in their cannabis portfolio. Fire & Flower Holdings has already gained more than 25% year-to-date, a testament to the strong investor interest in the stock in 2020.

About Fire & Flower Holdings

Fire & Flower Holdings is a Canadian cannabis company. It operates as a cannabis product retail chain. It operates a network of dozens of cannabis retail outlets in Canada. FFLWF currently has licenses to operate cannabis retail stores in Alberta and Saskatchewan provinces. In addition, it runs a cannabis distributor business in Saskatchewan.

Investors will no doubt remember that 2019 was a tough year for the cannabis sector, with a widespread collapse of many cannabis stocks big and small. That shows why in 2020 investors are looking for cannabis stocks that can deliver excellent returns and make them forget the pain of the past year. FFLWF has emerged as one of the favorite cannabis stock picks for investors early on in 2020. There are several reasons behind that and here are…

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