Namaste Technologies Inc (OTCMKTS: NXTTF) has had to contend with wild price swings, as investors reacted to delays in the filling of audited financial results and ousting of Sean Dollinger as the CEO. That could soon change, as the Company has come through and filled results that affirm robust revenue growth.
Namaste Technologies Price Analysis
However, concerns over widening net loss could hurt the stock’s sentiments in the market, at a time when it is in dire need of, groundbreaking catalysts to avert further slides. While the stock has bottomed out, it remains engulfed in a long-term bear trend.
The descending trend line could attract short selling pressure on the filling of negative news that arouse concerns about the Company’s long-term prospects. A spike to the $0.65 level essentially means the stock is at a critical resistance level.
Failure to rally and find support above the resistance level could elicit some form of selling that could see the stock trading sideways. Immediate support on any pullbacks from current highs is seen at the $0.40 mark.
A sell-off followed by a close below the $0.40 mark could result in Namaste Technologies resuming its downtrend, as has been the case for the better part of the past year. Conversely, a rally followed by a close above the $0.66 mark should pave the way for the stock to make a run for the $1.20 mark, seen as the next substantial resistance level.
What Does Namaste Technologies Do?
Namaste Technologies operates as a cannabis e-commerce Company. The firm retails vaporizers as well as smoking accessories through its e-commerce site that is available in 26 countries. The Company is also involved in product design as well as manufacturing activities targeting cannabis products.
Namaste Technologies price action activity is poised to receive a boost on the posting of the much-awaited financials results. The stock has come under immense pressure as investors reacted to delays on the release of financial results for the past fiscal year.
The financial report indicates that the Company’s revenues for the fifteen months ended November 30, 2018, totaled $23.8 million, more than double revenues amounting to $10.98 million reported for the twelve months ended August 31, 2017. The cost of goods nearly doubled to $17.7 million compared to $9.6 million reported for the 12 months ended August 31, 2017.
Amidst the revenue growth, Namaste Technologies reported a wider than expected net loss of -$41.6 million for the fifteen months ended November 30, 2018, compared to a net loss of -$17.4 million for the 12 months ended August 31, 2017.
The filling of the financial results comes on the heels of Namaste Technologies, confirming the appointment of new members into the management hierarchy. According to the interim Chief Executive Officer, Meni Morim, the new members bring strength and oversight at a crucial time when the Company is exploring strategic initiatives
Pursuant to the changes, Andy” Wilczynski is to join the board of directors as Faraaz Jamal assumes the role of vice president of marketing and strategy. Andrew Buckman has also been appointed to the Advisory Board.
“We have added strength, oversight, experience, and vision to increase our capacity to achieve our corporate milestones and regain our focus on growth. These three individuals each bring a wealth of history and operational excellence with proven results. These individuals bring new energy and will be instrumental in reinvigorating and reshaping Namaste’s future,” said Mr. Morim.
Namaste Technologies has not had the best of runs in 2019 if recent price action activity is anything to go by. Wild price swings, up and down, has been the order of the day as investors continued to question the Company’s long-term prospects.
The uncertainty could, however, come to an end following the filling of audited financial results. The appointment of new members into the board, with vast experience, is another development that should continue to prop the stock’s sentiments among investors.
The stock has started rebounding from all-time lows following the exit of former CEO. With the focus now shifting to pursuing growth in the cannabis sector, the future can only be bright, as the stock appears to have hit the floor. Namaste Technologies is likely to continue bottoming out on rallying and finding support above the $0.66 level.
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Disclosure: We have no position in NXTTF 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…