Shares of Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) have been pulling back in recent action, triggering some interesting potential in the chart pattern that deserves some attention for traders looking for an advantageous scenario in the stock. To add further color to the narrative, the company just announced that its joint venture partner, Endo Bliss, won Taste For Life’s 2019 Essentials Supplement Award.
According to the release, the award “recognizes the most outstanding natural supplements in health and wellness in the U.S. Emerald will launch the Endo product line in Canada in 2019 through its joint venture, Emerald Health Naturals, which secured Canadian distribution rights for this product line that was developed to support the body’s endocannabinoid system, but which does not contain cannabis.”
Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) trumpets itself as a licensed producer of medical marijuana under the Access to Cannabis for Medical Purposes Regulations, which allows the company to produce and sell medical marijuana and cannabis oils to clients and other licensed producers.
Individuals may become clients of the company by registering with the company through its secure online portal or via telephone after the individual has received a medical document signed by a licensed health care practitioner setting out the daily quantity of dried marijuana, in grams, that the practitioner authorized for the person.
According to company materials, “Emerald Health Therapeutics Inc (OTCMKTS:EMHTF) operates through Emerald Health Botanicals Inc., a wholly owned subsidiary and Licensed Producer under the Access to Cannabis for Medical Purposes Regulations. Botanicals is authorized to produce and sell both dried medical cannabis flower and medical cannabis oil in Canada. Botanicals currently operates an indoor facility in Victoria, BC, and is progressing on expansion plans for a 32-acre property in Metro Vancouver and a partnership with Village Farms, called Pure Sunfarms, utilizing a 25-acre existing greenhouse complex in Delta, BC. Botanicals is one of Canada’s most medically focused licensed producers, with a team highly experienced in life sciences product development and large-scale agribusiness. Its vision is to be a leading provider of cannabis products through its production capabilities, proprietary genetics, value-added products and branding, and superb customer experience. Emerald Health Therapeutics is associated with the Emerald Health group, which comprises multiple companies advancing diverse botanical, nutraceutical and pharmaceutical products that may provide wellness and medical benefits by interacting with the body’s endocannabinoid system.”
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As noted above, EMHTF just announced that its joint venture partner, Endo Bliss, won Taste For Life’s 2019 Essentials Supplement Award, which recognizes the most outstanding natural supplements in health and wellness in the U.S. Emerald will launch the Endo product line in Canada in 2019 through its joint venture, Emerald Health Naturals, which secured Canadian distribution rights for this product line that was developed to support the body’s endocannabinoid system, but which does not contain cannabis.
EMHTF has had a rough past five days of trading action, with shares sinking something like -7% in that time. It will be interesting to see if this news can help to shift that tone. So far, it has obviously helped to some extent, but not enough to repair recent damage. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -10%.
In addition, the company has registered increased average transaction volume recently, with the past month seeing 5% beyond its prior sustained average level.
“Endo Bliss’ recognition as a top natural supplement to support endocannabinoid health by Taste for Life in the U.S. is a notable accolade,” said Gaetano Morello, ND, CEO of Emerald Health Naturals. “The Endo product line offers people who use natural health products a completely new and unique category of nutritional supplement. To receive this award, at a time when more US retailers are showing interest in putting Endo on their shelves, is added confirmation to us that Endo is fulfilling an unmet need in the marketplace for non-cannabis products that support the endocannabinoid system.
Now commanding a market cap of $397.3M, EMHTF has a significant war chest ($52.9M) of cash on the books, which stands against about $30.7M in total current liabilities. One should also note that debt has been growing over recent quarters. EMHTF is pulling in trailing 12-month revenues of $1.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 51.9%. We will update the story again as soon as further details emerge. Sign-up for continuing coverage on shares of $EMHTF 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 $EMHTF, either long or short, and we have not been compensated for this article.