Geometry Dash APK Hill Climb Racing APK
47.2 F
New York
Wednesday, January 19, 2022

Auxly Cannabis Group Inc (OTCMKTS: CBWTF) Should be on Bounce Radar

Must read

Medmen Enterprises Inc (OTCMKTS:MMNFF) Pulls Back From Highs as Buzz Cools Off

Among the sectors which have bounced back in 2021, the cannabis sector is one of considerable interest since it had been in...

VirtualArmour International Inc (OTCMKTS:VTLR) Jumps Another 250% This Week

Not every move in the stock market can always be explained and hence, investors are often rightly confused when a stock records...

Ozop Energy Solutions Inc (OZSC) is Riding a Green Wave of Momentum

Investors who are looking for fresh opportunities in rising stocks may have a lot to choose from at this point but it...

Drone Delivery Canada Corp (OTCMKTS:TAKOF) is Soaring after Roadmap Update

The drone industry has grown at a remarkable rate over the past five years or so and hence, it is no surprise...

With the technical round trip now completed for shares of Auxly Cannabis Group Inc (OTCMKTS: CBWTF), it may be time to pay very special attention to this stock with a weather eye out for imminent bounce potential. The “round trip” is often a key technical marker. The stock launched higher late last year, springing from the $0.67/share area to score heights exceeding $2.25/share. Now it has spilled stop loss orders back under the origin of that explosive move, which often marks an opportunity for a seller-exhaustion bounce.

This picture is augmented by recent catalysts, including the company’s announcement that its wholly-owned subsidiary, Kolab Project Inc., has received its sales license from Health Canada, pursuant to the Access to Cannabis for Medical Purposes Regulations. According to the release, “The sales license authorizes Kolab to sell dried cannabis to registered Canadian medical patients across the country through its online portal at”

Auxly Cannabis Group Inc (OTCMKTS: CBWTF) trumpets itself as an investment company that seeks to provide investor returns through streams and capital appreciation in the Canadian cannabis industry.

The company operates as a cannabis streaming company. It provides funding for cannabis facility expansions, operations, and initial construction in exchange for minority equity interests and a portion of the cultivation production.

The company was formerly known as Knightswood Financial Corp. and changed its name to Cannabis Wheaton Income Corp. in May 2017. Cannabis Wheaton Income Corp. was incorporated in 1987 and is based in Vancouver, Canada, and became known as Auxly Cannabis Group Inc over recent months.

According to company materials, “Auxly Cannabis Group is a collective of entrepreneurs with a passion for the cannabis industry past, present and future. Our mandate is to facilitate growth for our partners by providing them with financial support and sharing our collective industry experience. Our partners all have different visions, voices and brand values, and all share a common goal—to build a world-class industry based on ethics, diversity, quality and innovation.”

Find out when $CBWTF reaches critical levels. Subscribe to Right Now by entering your Email in the box below.

As noted above, this is a recent round trip bounce opportunity sporting some new and interesting catalysts, including the company’s most recent announcement of a sales license from Health Canada.

“The sales license marks a significant milestone in Kolab’s development of a different kind of company – one that rethinks the patient experience,” said Andrew Rock, Chief Operating Officer of Kolab. “As a craft grower, we are passionate about our product and take our commitment as a licensed producer seriously. Through our focus on research and development, we will produce the highest quality medical-grade cannabis. I am grateful to our team for the dedication and hard work that got us here and look forward to building a community that enriches the health and wellness of Canadian patients.”

“We could not be more pleased with the issuance of the sales license to Kolab. The receipt of the sales license is instrumental in allowing Kolab and Auxly to execute on the broader business strategy of the entire platform. We remain convinced that Andrew has assembled the right team and is well equipped to deliver patients an elevated experience by sourcing the best products from across Auxly’s cultivation partners,” said Chuck Rifici, Chairman and CEO of Auxly. “We are also honored to have been selected as a retail cannabis store license applicant in Saskatchewan. This new retail store and e-commerce presence in Saskatchewan serve as an important piece of Auxly’s downstream distribution segment as we look to address both the medical and adult-use markets on a provincial and national basis.”

Earning a current market cap value of $379.5M, CBWTF has a significant war chest ($206.4M) of cash on the books, which must be weighed relative to virtually no total current liabilities. The company has pulled in $1.58M in trailing 12-month revs, with significant sequential quarterly growth on the topline over the past several quarters. This is an exciting story, and we look forward to a follow-up chapter as events transpire. Sign-up for continuing coverage on shares of $CBWTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CBWTF, either long or short, and we have not been compensated for this article.

Latest article

iQSTEL Inc (OTCMKTS:IQST) Stock Makes a Big Move: Jumps 45% In a Week

In the past week, iQSTEL Inc (OTCMKTS: IQST) has emerged as a point of focus among a large number of investors and...

HUMBL Inc (OTCMKTS:HMBL) Stock Sees Big Bounce After Recent Slump

Since the beginning of 2021, HUMBL Inc (OTCMKTS:HMBL) had been one of the major movers from among penny stocks and had come into...

Dividend Stocks to Buy Now

A classic mistake that investors make when looking for dividend stocks is to just go for the biggest dividend yield. It makes...

88 Energy Ltd (OTCMKTS:EEENF) Stock Surges 40% But Can’t Hold Gains

The oil and gas company 88 Energy Ltd (OTCMKTS:EEENF) seems to have come back on to the radars of investors over the...

Net Savings Link Inc (OTCMKTS:NSAV) Stock is Getting Pummeled Again

Nowadays there are plenty of options for investors when it comes to making investments in the cryptocurrency and...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service