Future Farm Stock (CNSX:FFT) (OTCMKTS:FFRMF) is likely to continue its solid performance after bouncing back following a harrowing plunge in 2019. The stock has bottomed out from one-year lows in what appears to be a change in direction. The bounce-back has coincided with an uptick in sentiments in the overall cannabis market.
Future Farm Stock Price Analysis
Renewed investor interest stems on the company confirming it is preparing Maine-grown hemp biomass and seeds for processing and market. The company is also nearing completion as part of ongoing harvesting in Maine. Management changes have also come into play as the company looks to take advantage of new ideas in what is expected to be a busy year.
The stock has since bottomed out from the $0.02 level and shows signs of edging higher in the wake of sentiments in the broader stock market turning bullish. A bounce back to the $0.03 level should open the door for the stock to continue powering higher ahead of the $0.05 resistance level.
Future Farm stock needs to rise and find support above the $0.05 level to reaffirm its break out credentials from all-time lows. Failure to take out the $0.05 resistance level could leave the stock susceptible to further drops given the underlying long-term downtrend.
In our view, Future Farm stock has reached a bottom and due for a correction high as short sellers continue to get squeezed.
About Future Farm stock
Future Farm Technologies casts itself as a leading supplier of hemp-derived CBD products. The company is currently engaged in the processing of hemp crop grown in Maine as it also continues to pursue hemp-related opportunities across the U.S. It is also involved in the development of cannabis strains in Canada.
Following the completion of the company’s annual general meeting, four new directors have been appointed to the board expected to impart new ideas. The directors who will hold office until the next annual meeting include William Gildea, Craig Stanley, and newly appointed Thomas Barrette. Mr. Barrette is a great addition as he joins Future Farm Technologies with vast experience in working with companies facing challenges pertaining to sophisticated financing and strategic partnerships.
When it comes to operational efficiency, Future Farm Technologies has completed the drying and curing phase of its hemp and seeds in Maine. The fact that the yields exceeded the company’s apparatus for seed extraction processing and storage points to what could turn out to be a fruitful year.
Maine Bumper Hemp Harvest
The company has since confirmed plans to acquire more robust seed extraction and cleaning equipment as it seeks to ramp up its cannabis extraction process. Future Farm Technologies is also planning for additional resources that will support storage as well as transportation of larger industrial scales.
“These early findings are great news for us, and as we look to meet the needs of our robust pipeline of carefully curated and diverse customers. The abundance of the product enables us to service the demand for seeds, biomass, oils, extracts, and contract manufacturing,” said William Gildea, CEO of Future Farm.
Future Farm Technologies starts the year with more than 5 million worth of high-quality Cherry Wine hemp seeds after a successful harvest late last year. In November, the company sent 25 acres of hemp to its Belfast facility for processing in preparation of three more cycles of harvesting hemp.
The hemp harvest positions the company to be one of the biggest beneficiaries following the release of new hemp regulations. The company thus remains well-positioned to pursue economic opportunities in new markets.
While things have not been rosy for Future Farm stock over the past year, they are starting to look up. The harvesting of 25 acres worth of hemp means the company is well-positioned to take advantage of strong demand for hemp seeds and other products this year.
Future Farm stock price action has already shown signs of improvement with the stock bottoming out from one-year lows on huge volume, signaling the building up of momentum players jumping in. In our view, the bumper hemp harvest in Maine has the potential to strengthen the company’s hemp production capacity, consequently strengthening market sentiments. Likewise, the stock looks set to continue its solid performance after starting the year on a roll.
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Disclosure: We have no position in Future Farm stock and have not been compensated for this article.
What Do Investors See In Medical Marijuana Stock (OTCMKTS:MJNA)?
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
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…
Is Cronos Stock (TSE:CRON)(NASDAQ:CRON) A Buy?
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…