It is a New Year and now is a great time to pick up pot stocks that can put good money in your pocket. There is no doubt 2019 was a disappointing year for cannabis investors, with many cannabis stocks crashing to multiyear lows. But there are cannabis stocks that look primed for a powerful comeback in the New Year and Namaste Technologies Stock (CVE:N)(OTCMKTS:NXTTF) stands out as one of them.
About Namaste Technologies stock
The cannabis stock universe is vast and so there is a good chance some investors may be learning about Namaste Technologies stock for the very first time. Therefore, a brief introduction to this company will be in order.
Namaste Technologies is engaged in the supply and distribution of cannabis products and related accessories. It runs the world’s largest cannabis e-commerce network that consists of more than 30 websites across more than 20 countries, including the United States, Mexico, Brazil, Australia, and the United Kingdom in addition to Canada. Namaste operates through subsidiaries and its product offering includes vape pens and CBD products. The company serves both medical and recreational cannabis markets.
Namaste Technologies stock starts 2020 on a high note
Namaste started the new year on a positive note, with the stock gaining 35% on January 2, the first trading day of 2020. Before that, the stock had a positive close to 2019, gaining 5.0% on December 31. The gains indicate improving investor sentiment on the stock in the new year. But there is more to come as investors learn more about Namaste.
In November, Namaste tapped investment advisory and financial consulting firm Stonebridge Partners to work on its investor awareness campaign. Namaste handed Stonebridge a six-month contract to enhance its investor relations efforts.
The hiring of Stonebridge for the investor awareness campaign comes as Namaste has been expanding and diversifying its business to both boost sales and create more shareholder value. Now Namaste is investing in making prospective investors aware of the investment opportunity in it. Increased investor awareness should increase demand for the stock and contribute to the bounce back.
Major recent developments at Namaste Technologies
There have been a number of notable developments at Namaste in recent months that could benefit Namaste Technologies stock. Here is a highlight of some of those key developments:
Namaste expands its product offering with distribution agreements with Phyto and Trec
Namaste’s home country Canada last month expanded its cannabis market with the legalization of a range of new cannabis products for adult-use. These include cannabis edibles, drinks, and smoking devices or vape pens. With the newly legalized cannabis products, Canada’s adult-use cannabis market is on course to double in size this year to C$2.4 billion.
In December, Namaste added a range of products from leading cannabis brand Phyto to its offering. Namaste said it would carry Phyto on its CannMart online marketplace. Phyto is an established cannabis brand, so Namaste counts on its strong product recognition to fuel its sales in the expanded Canadian adult-use marijuana market.
Before the Phyto deal, Namaste partnered with Trec Brands to distribute its premium cannabis products in Ontario and Saskatchewan provinces. Namaste will sell Trec products under the WINK cannabis brand and it said the arrangement will boost its sales. The Namaste-Trec partnership also targets the expanded adult-use cannabis market in Canada.
Namaste secures cannabis supply contracts with Ontario and Saskatchewan provincial governments
Namaste not only does business with private entities but government agencies as well. In November, the company secured wholesale cannabis supply contracts from Ontario and Saskatchewan provincial government agencies, adding to its existing business with the British Columbia provincial government.
“Working directly with the provincial governments represents a significant market opportunity for us,” commented Meni Morim, CEO of Namaste.
Namaste invests in chocolate maker Choklat
The expanded adult-use cannabis market in Canada has opened the door for makers of edibles and beverages to enter the scene with cannabis-infused versions of their products. To maximize its opportunity in Canada’s expanded adult-use cannabis market, Namaste recently invested in chocolate maker Choklat, which is considering making cannabis-infused chocolates.
Namaste already owns 49% of equity interest in Choklat and is now on course to tighten its grip on the business following the October financing transaction.
Namaste Technologies stock expanded product offerings, contracts with government agencies, and investment in businesses like Choklat that want to tap into Canada’s recreational cannabis market, position it well to capitalize on the cannabis boom. The stock currently trades at $0.30 currently but has potential to return more than 1,200% on its way back to its all-time high of about $4.0 a share.
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Disclosure: We have no position in Namaste Technologies 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…