Shares of Green Organic Dutchman Holdings Ltd (OTCMKTS: TGODF) are powering higher after a minor correction from 2019 highs. A build up in the upward momentum could as well signal a bounce back on improved market sentiments.
TGODF Catalysts and Price Analysis
A bounce back in share price follows the confirmation that the Company has secured approval for the opening of a second legal cannabis retail store in Jamaica. The Company’s extraction processing services provider has also received organic certification, setting the stage for The Green Organic Dutchman Holdings to start delivering high-quality cannabis organic oils.
The Green Organic Dutchman Holdings has also secured a Health Canada license for the sale of cannabis oils, marking an important milestone in the race to diversify the current product line. The license approval comes on the heels of the Company commencing distribution of certified organic cannabis to medical patients in March.
A string of positive news helped catapult the stock to highs of $4 a share in March. While the stock did pull lower, in what appeared to be as a result of investors taking profits, the uptrend remains intact.
The Green Organic Dutchman Holdings has bounced off the $3 support level, waiting to see if the upward momentum has what it takes to fuel a rally back to this year highs. A rally followed by a close above the $4 a share resistance level, should see the stock turning bullish, with vast prospects of making a run for 52-weeks highs.
Conversely, failure to hold above the $3 support level could result in the stock plunging to where it started the year at the $2 level.
What Does The Green Organic Dutchman Holdings Do?
The Green Organic Dutchman Holdings casts itself as a cannabinoid-based research and development company. The Company produces organic cannabis products including organic dried cannabis, cannabis oils as well as edibles and seeds for medical applications.
Jamaica Expansion Drive
The Green Organic Dutchman Holdings is a potential bounce-back play as a string of positive development continue to strengthen the stock’s market sentiments. For starters, the Company is in the process of expanding its footprint in Jamaica following the approval of a second retail store.
The new store is located at the Montego Bay, a popular tourist destination, where the Company remains well positioned to generate significant amount of sales. In partnership with its Jamaican partner Epican Medicinal, The Green Organic Dutchman Holdings intends to open additional herb houses in the island, to service the strong demand for cannabis products.
“Our Kingston location witnessed increasing sales volumes; setting the stage for the grand opening of an Epic a Herb House in Jamaica’s largest tourist hub. It is an important milestone toward further expansion for Epican and TGOD in Jamaica,” commented Brian Athaide CEO of TGOD.
Organic Certification Milestones
The Green Organic Dutchman Holdings has also received a significant boost on its bid to develop and make available a wide array of cannabis products. Its extraction processing services provider Valens GroWorks Corp has secured an organic certification.
With the certification, the extraction service provider will now be able to supply The Green Organic Dutchman Holdings with the much-needed cannabis extracts for developing high-quality organic oils.
In addition, the Company’s European acquisition HemPoland has also secured organic certification from Authorities in Poland. The approval opens the door for The Green Organic Dutchman Holdings to enhance extraction and formulation of high-quality hemp oils from certified organic raw materials.
“We are incredibly excited that Hem Poland’s facilities, production, and processes have received organic certification within Europe. This is a major point of differentiation that offers consumers a premium experience. We are proud to continue to deliver and execute on our global organic strategy,” added Mr. Athaide.
What Next For the Green Organic Dutchman Holdings
The current share price does not accurately reflect The Green Dutchman Holdings potential. A pullback from this year highs might as well have presented a fundamental investment opportunity for investors who missed on the initial spike.
Expansion into new markets, as well as the unveiling of new cannabis products, position the Company to generate significant revenues thus shareholder value going forward. That said the stock is a fundamental pullback play after the recent correction.
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Disclosure: We have no position in TGODF and have not been compensated for this article.
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