As documented in our recent analysis, one stock that has risen to the top of our favorites of late is Namaste Technologies Inc (OTCMKTS:NXTTF). The company has an embedded operational infrastructure made for powerfully achieving the transition from an MMJ strategy to a leader in coordinating a recreational strategy in Canada. Shares have been going parabolic over the past couple weeks as the crowd starts to see this picture.
Helping power the action, the company just announced that it has signed an exclusive co-supply, marketing, and distribution agreement with Airo Brands Inc. to launch Airo Brands’ pre-filled vaporizer cartridge brand in both the recreational and medical cannabis markets throughout Canada. According to the release, “As part of the arrangement, Namaste will produce and distribute Airo Brand’s pre-filled vaporizer cartridges through the Company’s wholly-owned subsidiary and Health Canada’s Access to Cannabis for Medical Purposes Regulations Licensed Producer, Cannmart Inc.”
Namaste Technologies Inc (OTCMKTS:NXTTF) promulgates itself an emerging leader in vaporizer and accessories space. Namaste has 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution.
NXTTF is currently focused on expanding its product offering, acquisitions, and strategic partnerships, and entering new markets globally.
According to company materials, “Namaste Technologies is Your Everything Cannabis Store. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada. Namaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.”
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As noted above, NXTTF shares have been ripping as the company continues to put together a promising strategic package in front of full recreational legalization in Canada. In all, traders will note just shy of 120% piled on for shareholders of the name during the trailing month, but this action is running counter to the larger trend in the name.
What’s more, the stock has registered increased average transaction volume recently, with the past month seeing exceeding 410% over what the stock has registered over the longer term.
Sean Dollinger, President and CEO of Namaste Technologies comments; “We’re pleased to announce our partnership with Airo Brands who is a leader in the pre-filled vaporizer industry in the US and looking to enter into the Canadian market. It is extremely exciting to see top US based companies like Airo Brands and Lowell Brands recognize Namaste as a leader in the space as they look to penetrate the Canadian market. Cannmart’s license provides a strategic advantage for our partners whereby the Company can source various types of cannabis flower and oil from multiple vendors to produce added-value products that will be sold through our medical and recreational sales channels.”
Now commanding a market cap of $657.94M, NXTTF has a reserve ($471K) of cash on the books, which must be weighed relative to about $1.1M in total current liabilities. One should also note that debt has been growing over recent quarters. NXTTF is pulling in trailing 12-month revenues of $5.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 173.1%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $NXTTF 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 $NXTTF, either long or short, and we have not been compensated for this article.