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Sunday, January 16, 2022

Namaste Technologies Inc (OTCMKTS:NXTTF) Gets Hooked Up to More Money Flows

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We continue to be fans of Namaste Technologies Inc (OTCMKTS:NXTTF). And now, we have another brick in the wall of that perspective as the company just announced its inclusion in the Horizons Medical Marijuana Life Sciences ETF (TSX:HMMJ). According to the release, “Inclusion in the ETF is as a significant milestone for Namaste as the Company establishes itself as a leader in cannabis-focused e-commerce technology.”

This not only frames the company as one of the definitive players in the space, but it also creates another pipeline of capital flows. Given the increased retail market attention being focused on the cannabis space, many investors will look for simple, cost-effective ways to gain diversified exposure to this segment of the market. That implies a strong and growing role for cannabis-centric ETFs. There are very few. As money flows into the ETF, the ETF has to allocate money to component stocks, which is now a group that contains NXTTF.

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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In all, the NXTTF chart shows better than 120% added to share values of the company over the past month of action. Moreover, the stock has seen interest climb, with an increase in recent trading volume of greater than 370% beyond what we have been seeing over the larger time frame.

Sean Dollinger, President and CEO of Namaste comments: “We’re very proud to have been included in the HMMJ ETF. Namaste has and will continue to bring innovation to the industry and provide value to its customer and patients on a global basis. Inclusion in the ETF is a major milestone for the Company and reinforces our strength as a leader in cannabis e-commerce technology. Everything we do is focused on the user experience. We believe that Namaste, through its innovative technology platforms and global reach will be positioned for future growth and in establishing itself as a leader in its offering of all things cannabis.”

At this time, carrying a capital value in the market of $721.59M, NXTTF has a chunk ($471K) of cash on the books, which is balanced by 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 is an exciting story, and we look forward to a follow-up chapter as events transpire. 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.

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