Anyone watching the market knows the cannabis sector has been booming again. Since the start of the year, the cannabis sector has made a strong comeback and many of the stocks have recorded considerable gains.
One of the cannabis stocks to have made notable gains in 2021 so far is that of VIVO Cannabis Inc (OTCMKTS:VVCIF).
The company, which is involved in the premium cannabis products and services space, saw its stock deliver gains of as much as 110% so far this year. It seems that the stock has performed well due to the overall positivity around the cannabis sector.
However, at the same time, investors need to take a closer look at the company and get a better idea.
The company has both productions as well as sales licenses from the regulatory Health Canada. It owns a state of the art facilities which are situated in Napanee and Hope.
More importantly, VIVO Cannabis has its own proprietary growing technology and that is something that could give the company an edge over its peers.
On the other hand, the premium products that are marketed by the company targets different sections of customers, and hence, VIVO Cannabis caters to a diverse base. These are important things to keep in mind when one looks into the company and its business.
One of the more important developments with regards to the company took place back in October last year. At the time, the company announced the launch of its wholly marketed public offering of units in VIVO Cannabis.
As per the announcement, the company revealed that it was going to offer the units for $0.15 each in order to raise a total of approximately $5100000 in fresh capital.
The company engaged the services of Gravitas Securities Inc and Claras Securities Inc in order to lead the efforts.
Disclaimer: We hold no position in VVCIF stock.