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Namaste Technologies Inc (OTCMKTS: NXTTF) To Resume Uptrend After Positive Corporate Update

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Namaste Technologies

Namaste Technologies Inc (OTCMKTS: NXTTF) has had its fair share of controversies but appears to be coming through, if recent price action activity is anything to go by. The stock has posted tremendous gains in recent weeks on the Company announcing plans to invest in technology and infrastructure to cater to domestic and international licensed producers.

Namaste Technologies Price Analysis

The company has also made a string of changes, mostly targeting the management, as it seeks to strengthen the business and the foundational technology upon which it was built on. An advisory board has already come into place, tasked with the responsibility of providing additional expertise and strength to compliment the board of directors.

Shares of Namaste Technologies have since jumped from lows of $0.39 to highs of $0.72 in recent sessions. While the stock has pulled lower, the pullback appears to be a minor correction pending further movements on the upside.

NXTTF Daily Chart

Standing in the way of the short-term momentum turning bullish, in the wake of the recent crash, is the $0.72 resistance level. Namaste Technologies needs to rally and find support above the resistance level to affirm its break out credentials further.

Above the $0.72 mark, the stock would be well positioned to make a run for the $1.20 level, which is the next resistance level. A rally followed by a close above the 1.20 level should bring to an end a sell-off wave that had threatened to plunge the stock to all-time lows.

What Does Namaste Technologies Do?

Namaste Technologies operates as an e-commerce Company mostly focusing on cannabis products. The company’s core business revolves around connecting medical clients with health care practitioners for the issuance or renewal of cannabis prescriptions.

Why is Namaste Technologies Bottoming Out?

Namaste Technologies has started showing signs of bottoming out after issuing a corporate update with respect to management appointment as well as echoing a new corporate strategy.  The company has been under immense pressure in recent weeks on failing to post audited financial results for the fiscal year ended November 30, 2018.

The company has since applied and secured a management, cease trade order that bars the CEO and CFO from trading the company’s shares until such a time financial results are made available.

Corporate Update

The management reiterating the corporate strategy as well as confirming a new appointment to the board of directors and providing corporate updates continues to revitalize investor sentiments in the stock.

Namaste Technologies has since confirmed the appointment of Kenneth Jones, an experienced business leader, to chair the audit committee. The appointment follows the formation of an Advisory board that the company hopes will provide additional expertise and strength to the board of directors.

“We’re making the necessary changes to strengthen our business, our Board of Directors and the foundational technology upon which the Company was built. Ken brings a wealth of experience and financial knowledge to enhance Namaste’s overall practices and governance as chair of the Audit Committee. We are honored to welcome Ken to our Board of Directors,” stated interim CEO Meni Morim.

Corporate Strategy

The Chief Executive Officer has also confirmed they are in the process of making changes internally to deliver results externally. The management expects the changes to have a positive impact on the company’s short term and long-term outlook.

In relation to the corporate strategy, Namaste Technology continues to invest in technology and infrastructure all in the effort of catering to the needs of licensed cannabis producers, cultivators, and ancillary device producers.

Namaste Technologies has also made several important changes to its CannMart website as it looks to strengthen the primary distribution channel for its cannabis products.

Bottom Line

While Namaste Technologies remains engulfed in a long-term bear trend, it has started showing signs of bottoming out. Market sentiments have inched higher in response to the recent corporate update that suggests the management is working round the clock to reinvigorate the company’s long-term prospects

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Disclosure: We have no position in NXTTF and have not been compensated for this article.

MJ Stocks

What Do Investors See In Medical Marijuana Stock (OTCMKTS:MJNA)?

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Medical Marijuana stock

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

Medical Marijuana…

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MJ Stocks

Is Tilray Inc (NASDAQ:TLRY) A Buy Or Sell?

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NASDAQ:TLRY

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.

About NASDAQ:TLRY

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…

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MJ Stocks

Is Cronos Stock (TSE:CRON)(NASDAQ:CRON) A Buy?

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Cronos Stock

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…

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