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Sunday, January 17, 2021

Eco Science Solutions Inc (OTCMKTS:ESSI) Refuses to Roll Over

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Eco Science Solutions Inc (OTCMKTS:ESSI) is another big beneficiary of the recent powerful shift toward legalization of pot in the US and North America more generally. As the reader likely knows, on November 8, nine states voted on the legal status of marijuana. Eight of them voted in favor of greater legality, with four states moving to fully legalize weed on a recreational basis.

According to Cowen & Co., the fact that California was among them will likely push the overall legal sales footprint of pot in America to over $20 billion. ESSI is principally a play on this wave of emerging “everyday” consumerism that will likely spring forth from this jump in market size. With more legitimate access to the product, we will need more tools to make it fit into our daily life. ESSI is an app play that so far has some speculative value on the strength two key offerings: Herbo and Herbo Wallet.

Eco Science Solutions Inc (OTCMKTS:ESSI) is “a technology-focused company that provides solutions for the health and wellness industry. From enterprise software solutions, entertaining and useful content generation for mass distribution to consumer apps for daily use, the Company develops technical solutions that empower enthusiasts in their pursuit and enjoyment of building eco-friendly businesses and living healthy lifestyles.

Eco Science’s core services span business location, localized communications between consumers and business operators, social networking, educational content, e-commerce, and delivery.

The Company’s licensed e-commerce platform enables health-and-wellness enthusiasts to easily locate, access, and connect with health-and-wellness businesses and like-minded enthusiasts, and to facilitate the research of and purchasing of eco-friendly products … anytime, anywhere.”

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After acting as a laggard for much of the last 6 weeks, the stock is starting to outperform. Traders will note 46% tacked on to share pricing for the company in the past week.

This is emblematic of the stock. Eco Science has a track record that includes a number of dramatic bounces. Furthermore, the stock has registered increased average transaction volume recently, with the past month seeing a bit less than 150% above the average volume levels in play in this stock over the longer term. It pays to take note of this fact due to the very limited float size in the stock (not even 9.4M shares). It’s something the veterans know to key on: with such a tight trading float, this kind of ramping interest can force a supply-shock squeeze.

As noted above, while they have a lot of seeming hit and miss market efforts, the Herbo app does appear to be of value. It’s a mapping app with every location selling anything that has anything to do with weed or paraphernalia or vaping or anything vaguely even tangential to the discerning stoner’s needs at a given time. It’s nicely color-coded and clearly useful.

In addition, the company has a version of the Herbo app called the Herbo Gift Card Wallet. It is not a crypto-currency exchange mechanism. It is simply a gift card wallet. You can make purchases with it in the same manner that you can make purchases with anything else.

Currently trading at a market capitalization of $51.1M, ESSI has an extremely small store of cash on the books, which must be weighed relative to an appreciable load ($510.29k) of total accumulated debt.

As we have noted in the past, Eco Science is a somewhat difficult case to like given the high debt, low cash state of the balance sheet and no seemingly obvious way to monetize what traction the company is seeing. But, for the very same reasons, it may have lots of bets currently in the market stacked against it given the run higher we have seen over the last 3 months. That said, it’s working lately, and the market may be telling us something about the future potential as a first mover in its niche as growth takes off. We will update it again soon as events dictate. For continuing coverage on shares of $ESSI stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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