Geometry Dash APK Hill Climb Racing APK
64.4 F
New York
Sunday, June 13, 2021

How General Cannabis Corp (OTCMKTS:CANN) Has Managed to Come Back to Life

Must read

Is Enzolytics Inc (OTCMKTS:ENZC) Making All The Right Moves in 2021

When a stock makes massive gains over a reasonable period of time, then it is necessary for investors to perhaps looking into...

Tesoro Enterprises, Inc. (OTCMKTS:TSNP) Hitting on All Cylinders

Last year it was announced that Tesoro Enterprises, Inc. (OTCMKTS:TSNP) was going to be merged with fintech company HUMBL INC and since...

Grayscale Ethereum Trust (ETH) (OTCMKTS:ETHE) Attracts Buyers As Ethereum Passes $1600

The rally in cryptocurrencies over the past few weeks has been quite remarkable. Although Bitcoin, the world’s biggest cryptocurrency by market cap,...

Rolls-Royce Holding PLC ADR (OTCMKTS:RYCEY) Needs to Turn the Tide Soon

The coronavirus pandemic had unleashed complete chaos in the capital markets in 2020 and that resulted in many stocks hit historic lows...

Yet another breakout in play in the cannabis space this week is in shares of General Cannabis Corp (OTCMKTS:CANN). The stock broke sharply above range resistance on Wednesday with a jump in volume to log new two-month highs. To add some color to the story, the company just announced that it has secured a lease with WeWork Los Angeles in support of its Southern California expansion.

According to the release, “The Company plans to leverage the flexibility of the WeWork shared office model for business development and sales efforts in California, as well as additional markets around the country as more states implement a regulated legalization framework for cannabis. The expansion of its corporate infrastructure in California follows the recent news of a new General Cannabis office in New York, and complements its Northern California presence in Sacramento. In addition, the Company is undergoing a transformational remodel of its 15,000 square foot headquarter office in Denver, Colorado which is expected to be completed by Spring 2019. General Cannabis has owned the building in Central Denver since 2014.”

General Cannabis Corp (OTCMKTS:CANN) trumpets itself as a company that provides products and services to the regulated cannabis industry in the United States.

The company operates through four segments: Security and Cash Transportation Services (Security), Marketing Consulting and Apparel (Marketing), Operations Consulting and Products (Operations), and Finance and Real Estate (Finance).

The Security segment advanced security services, including on-site professional and cash transport to licensed cannabis cultivators and retail shops, as well as security services to non-cannabis customers in the hospitality business.

The Marketing segment provides designing, branding, and marketing strategy consulting services to the cannabis industry; and designs and sources client-specific apparel and products. This segment offers t-shirts, hats, hoodies, and accessories through an online shop, as well as cannabis retailers, and specialty t-shirt and gift shops.

The Operations segment provides consulting services to the cannabis industry that comprise obtaining licenses, compliance, cultivation, retail operations, logistical support, facility design and construction, and expansion of existing operations.

The Finance segment engages in the acquiring and leasing of cultivation space and related facilities to licensed marijuana growers and dispensary owners. This segment also offers shared office space, networking, and event services; direct term loans and revolving lines of credit; and customized finance, capital formation, and banking services.

The company was formerly known as Advanced Cannabis Solutions, Inc. and changed its name to General Cannabis Corp in June 2015. General Cannabis Corp was incorporated in 2013 and is headquartered in Denver, Colorado.

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

As noted above, CANN just announced that it has secured a lease with WeWork Los Angeles in support of its Southern California expansion. In all, the chart shows 75% added to share values of the company over the past month of action.

What’s more, the listing has witnessed a pop in interest, as transaction volume levels have recently pushed 14% above the average volume levels in play in this stock over the longer term.

“Having a Los Angeles presence allows us to deepen our relationships within the California cannabis industry,” said Michael Feinsod, Chairman and CEO of General Cannabis. “The added flexibility provided by the WeWork model allows us to scale more efficiently than a traditional office lease. In addition, as we respond to rapid developments in new markets coming online, we can expand our footprint effectively overnight in markets where WeWork has a presence such as Boston and Washington D.C.“

Frankly, it’s a bit absurd to see this as a genuine catalyst given that anyone can lease a WeWork office for a few bucks a month. But, the breakout is there.

Now commanding a market cap of $95.27M, CANN has a significant war chest ($9.9M) of cash on the books, which is balanced by about $4.9M in total current liabilities. One should also note that debt has been growing over recent quarters. CANN is pulling in trailing 12-month revenues of $4.1M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 11.9%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $CANN 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 $CANN, either long or short, and we have not been compensated for this article.

Latest article

American Diversified Holdings Corp (OTCMKTS:ADHC) Nears Critical Level

When a stock records significant gains and then crashes and repeats over the course of a few months, then it might be...

Reconnaissance Energy Africa Ltd (OTCMKTS:RECAF) Gathers Further Momentum

If you are currently looking for stocks that may have recorded massive gains within a short period of time, then it might...

Is Tilray Inc (NASDAQ:TLRY) Stock a Good Buy After The Recent Fall?

The cannabis sector may have had a hard time not too long ago but over the course of the past months, the...

Sysorex Inc (OTCMKTS:SYSX) Stock Still Riding Big News

Investors are always drawn to stocks that make a big jump out of nowhere. So it's no surprise that Sysorex Inc (OTCMKTS:SYSX)...

BIGG Digital Assets Inc (OTCMKTS:BBKCF) is Struggling to Regain Momentum

Over the course of the past few months, the continued rally in some of the biggest cryptocurrencies has led to considerable interest...
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