Harvest Health & Recreation Inc (OTCMKTS: HRVSF) is on the cusp of registering another leg higher after a minor correction from this year highs. The stock has been flying high depicted by a 90% plus rally since the start of the year. The spike has come on huge turnover of traded shares signaling strengthening investor confidence about the Company’s growth prospects.
Catalysts Fuelling Price Action
Some of the triggers behind the rally is the confirmation that the Company continues to enjoy robust growth in California following the opening of the first dispensary in Nap. In addition, the Company has embarked on an aggressive expansion drive having set foot in four East Coast States.
Solid financial results for the full year ended December 31, 2018, is another development that continues to excite investors consequently fuelling the upward momentum. In the recent past, the stock’s market sentiments have edged higher on the Company confirming the acquisition of Verano Holdings.
Harvest Health & Recreation Price Analysis
It thus does not come as a surprise that Harvest Health & Recreation is trading in a steep uptrend as investors react to a string of positive developments. A spike to the $10 mark has since attracted a form of correction, as the stock has pulled lower in what could be attributed to investors taking profits.
The $8 mark has since emerged as a critical support level from where the stock is likely to resume another leg higher, after a recent pull back. A rally followed by a close above the $10 mark should open the door for Harvest Health & Recreation to edge higher in continuation of the long-term uptrend.
Conversely, a violation of the $8 support level could give short sellers a leeway to push the stock lower as part of the correction phase. Below the $8 mark, the stock could make a run for the $6 mark from where it bounced off on its way to posting 52-week highs of $10.85.
What Does Harvest Health & Recreation Do?
Harvest Health & Recreation is a cannabis-focused company that cultivates manufacturers and retails cannabis and its derivatives in the US. Billed as a vertically integrated cannabis company, the firm boasts of one of the largest footprint in the U.S with rights to 219 facilities.
Why is Harvest Health & Recreation Skyrocketing?
Shares of Harvest Health & Recreation have taken the market by storm in 2019 as investors react to a string of underlying developments that underscore robust growth and long-term prospects. The Company started the second quarter on a roll by opening the first medical cannabis dispensary in Napa California.
The opening of the dispensary comes at a time when Harvest Health & Recreation is in the process of acquiring Falcon International Corp. The acquisition will accelerate the Company’s expansion in the state while providing access to one of the largest logistics network servicing more than 80% of dispensaries in the state.
“The acquisition of Falcon provides a home for our manufacturing and distribution businesses throughout California,” said Veda. “We look forward to taking the brands acquired and leveraging our footprint to quickly move them across the country,” said Harvest Executive Chairman Jason Vedadi.
The Vertically integrated cannabis operator has since entered into an agreement to acquire CannaPharmacy. With the acquisition, Harvest Health & Recreation will expand its footprint into Delaware, Pennsylvania, New Jersey and Maryland as part of the expansion drive. The acquisition should thus broaden and deepen the Company’s retail and wholesale footprint.
The expansion drive seeks to strengthen the Company’s financial growth profiles after setting records in 2018. For the full year, ended December 31, 2018 revenues surged 106% to $47 million as gross profit increased 135% to $24.6 million.
In keeping up with the 2018 growth momentum, Harvest Health & Recreation has entered into an agreement to acquire Verano Holdings. The acquisition should expand the Company’s national footprint as well strengthen its multi-state operations as Verano boasts of an extensive portfolio of premium branded products.
Harvest Health & Recreation is in a phase of robust growth depicted by expansion into new markets as well as the strengthening of the current product portfolio. Revenue growth complemented by an increase in gross profits affirms growth in the core business that should continue to excite investors.
That said the stock is likely to continue climbing the cannabis ladder after a recent correction from 52-week highs.
For the latest updates on HRVSF and other MJ stocks, sign up below!
Disclosure: We have no position in HRVSF and have not been compensated for this article.
Forget APHA and ACB, Buy GTBIF and TCNNF
There are a lot of misconceptions going on when it comes to US legalization. Many investors are buying Aphria (APHA) and Aurora Cannabis (ACB) hoping to bank on what’s happening in the US. However, they are Canadian Licensed Producers and have no business in the US. Investors are buying them because they trade on the major exchanges, but that is the wrong move. The correct move is to buy the US multi-state operators like Green Thumb Industries (GTBIF) and Trulieve Cannabis (TCNNF).
On Election Day voters in New Jersey, Arizona, Montana and South Dakota voted to legalize recreational marijuana. South Dakota and Mississippi voters also approved measures to legalize medical marijuana.
There’s also the prospect of a more pot-friendly White House with President-elect Joe Biden. Vice Presidential Candidate Kamala Harris said at the debate a Biden administration would decriminalize marijuana at a federal level and expunge criminal records of people with marijuana-related offenses.
Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which it serves.
Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection.
The company also owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 96…
Decision Diagnostics Corp (OTCMKTS:DECN) Explodes On COVID-19 Test Kit Opportunity
Decision Diagnostics Corp (OTCMKTS:DECN) is exploding higher after unveiling a new methodology for the screening of coronavirus. GenViroTM COVID-19 screening kit is the latest catalysts fuelling the stock’s price action activity in the market. Similarly, the stock has rallied by more than 300% as investors take note of the huge opportunity up for grabs as the coronavirus pandemic continues to cause havoc.
OTCMKTS:DECN Price Analysis
The ever-growing demand for coronavirus test kit presents a unique opportunity for the company to generate significant value. In return, investors have continued to push the stock higher even as the broader equity market continues to plunge into the bear territory.
OTCMKTS:DECN is currently trading in a steep uptrend after succumbing to bearish pressure in 2019. Given the strength of the upward momentum, the stock is closing in on its one-year highs as the break out shows no signs of slowing down. A rally followed by a close above the $0.08 mark should open the door for bulls to push the stock to two-year highs.
Similarly, the $0.05 mark is the immediate support level above which the stock remains a bull play. Conversely, a breach of the support level would leave Decision Diagnostics susceptible to further drops, probably back to the $0.03 level. However, given the developments on the global scene, the stock looks set to continue powering high on pullbacks.
Decision Diagnostics bills itself…
Is CytoDyn Inc. (OTCMKTS:CYDY) A Buy?
CytoDyn Inc (OTCMKTS:CYDY) has been making big moves lately, which have propelled the stock from December low of $0.270 to new highs. Notably, CytoDyn’s surge has come on significant volume as well, a clear sign of strong investor interest in the stock.
The excitement in CytoDyn stock that we are witnessing right now comes as the company has taken a leading role in the fight against the deadly Wuhan coronavirus. Moreover, investors have started pouring on CytoDyn stock as the company advances the development of its lead drug candidate as a treatment for about two dozen different cancer types.
Before we delve into the details, here is a brief profile of CytoDyn for those investors who may have just come across this company for the very first time.
CytoDyn operates in the healthcare sector as a biotechnology company. It is engaged in developing innovative treatments for a broad range of medical indications. Its lead product candidate is leronlimab (PRO 140). Clinical trials of leronlimab are ongoing for conditions such as HIV and multiple cancers with impressive results already attained. But CytoDyn is expanding its target conditions with leronlimab in the wake of the outbreak of the Wuhan coronavirus.
Here are some of the recent developments at CytoDyn that have excited renewed investor interest in its stock.
CytoDyn’s leronlimab under consideration as Wuhan potential coronavirus treatment
CytoDyn’s lead drug candidate leronlimab (PRO 140)…