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Wednesday, January 20, 2021

AGRITEK HLDGS INC COM USD0.0001 (OTCMKTS:AGTK) Pulls Back within Strong Trend

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AGRITEK HLDGS INC COM USD0.0001 (OTCMKTS:AGTK) is a penny play that has started to garner attention as the stock bounces up the chart in a parabolic ascent, only recently succumbing to a break in momentum. The stock is still up 500% since early September, even after its jarring break at the end of last week, so we still consider the rise to be the story here.

Traders will note just shy of 270% piled on for shareholders of the listing during the trailing month. This is emblematic of the stock. Shares of AGTK stock have a track record that includes a number of dramatic bounces. Furthermore, the company has seen interest climb, with an increase in recent trading volume of just under 300% beyond its prior sustained average level. The real motor here is the same one we have been covering with so many stocks lately: namely, the upcoming footprint expansion for the legal marijuana market on November 8. But there are some interesting nuances to this story that will be key to appreciate.

AGRITEK HLDGS INC COM USD0.0001 (OTCMKTS:AGTK) trumpets itself as a company that offers various products and services to the medicinal marijuana sector in the United States. It distributes hemp-based nutritional products; and provides solutions for electronically processing merchant transactions. The company is also involved in the acquisition and leasing of real estate properties, such as cultivation space and related facilities to licensed marijuana growers and dispensary owners. In addition, it offers consulting services, including obtaining licenses, compliance, cultivation, logistical support, facility design, and building services to the cannabis industry.

The company was formerly known as MediSwipe Inc. and changed its name to Agritek Holdings, Inc. in April 2014. Agritek Holdings, Inc. was incorporated in 1997 and is headquartered in Denver, Colorado.

AGTK considers itself a pioneer within the medicinal marijuana space, provides innovative patient technology and agricultural solutions within the Compassionate Care Technology for the recreational cannabis industry. Agritek Holdings, Inc. does not directly grow, harvest, or distribute or sell cannabis or any substances that violate or contravene United States law or the Controlled Substances Act, nor does it intend to do so in the future.

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There is no question about the main stories driving this stock: First, they are getting into the business of R&D on health and wellness applications for Hemp-based products. Second, they are setting up to be a conduit for accessing legal marijuana through online services.

In the first case, AGTK announced late last month that the company has executed a Joint Venture and Letter of Intent with a Colorado-based partner and license holder for unlimited Hemp production. The two Companies intend to collaborate on an indoor, controlled Hemp grow for research and development creating a leading line of organic Hemp juices and wellness products produced in the US for distribution and shall be legal in all jurisdictions throughout the United states and internationally.

The Colorado-based partner to be named once the definitive agreement is executed within the next few weeks has a long history of cultivation of organic plants, fruits, and vegetables. The Hemp grow and cultivation license which shall be under the umbrella as a subsidiary Company with Agritek as the principal investor shall allow the company to create and distribute new Hemp wellness brands and products with the utmost consistency through conducting internal research and perfection of Hemp strains through the planned research facility.

“We have been able to get this venture off the ground with minimal investment dollars, and the value of having the Hemp cultivation license through our strategic partner and being able to control our own strains, research and provide the consistency of product quality through maintaining our own grow through this partnership will prove to be an invaluable asset to our Company’s future revenue growth,” stated B. Michael Friedman, CEO of Agritek Holdings, Inc.

Secondly, AGTK recently announced its partnership with WoahStork.com a web based application allowing patients and recreational users in CA, CO, OR, and NV to electronically upload their government issued ID and medical marijuana recommendation, peruse a curated marketplace of nearby products, and place online orders with local dispensaries. The unique web based application is the first of its kind providing the encrypted storage of patient information, strain library and geographical location to medicinal and recreational cannabis providers in aforementioned legal jurisdictions while allowing for pre-ordering and surgical advertising on behalf of the client. WoahStork.com aims to be the “Amazon of Marijuana.”

There’s a historic surge of market momentum behind this industry, and stocks in this space. AGRITEK HLDGS has current market cap value of $5.5M, and has minimal cash on the books, alongside total assets of $98K, which is balanced by an appreciable load ($163.11k) of total accumulated debt. Obviously, we can imagine better balance sheet situations, but this one is likely to have support underneath until we get the voting catalyst in the books. We will update out view of AGTK stock as soon as we have more. For continuing coverage on shares of $AGTK and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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