Wednesday, June 29, 2022

NAMASTE TECHNOLOGI (OTCMKTS:NXTTF) Pops Onto the Canadian Cannabis Radar

NAMASTE TECHNOLOGI (OTCMKTS:NXTTF) is a relatively unknown player in the cannabis patch that is just starting to get noticed in recent action. Technically, the impact is clear: shares of the stock have been on fire of late. We’ve seen as much as 150% on the upside in just the past 5 sessions. The key to that move was most likely related to its latest corporate shareholder update. The company just signaled a lot of progress with its wholly owned subsidiary, Cannmart Inc., with a focus on three main points: First, the ACMPR application has been submitted to Health Canada; second, the CannMart facility is now under construction; and third, the company expects a six to eight-week time-frame for completion.
According to the release, “Namaste’s design goals for the CannMart facility will facilitate the seamless distribution of a wide variety of medicinal cannabis products, which have been sourced both domestically and internationally. Namaste believes that once construction is complete, this state of the art facility will serve as the backbone in servicing Namaste’s impressive and growing database of Canadian medical cannabis consumers.”
NAMASTE TECHNOLOGI (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.
The Company is currently focused on expanding its product offering, acquisitions and strategic partnerships, and entering new markets globally.
According to company materials, “Namaste is the largest online retailer for medical cannabis delivery systems globally. Namaste distributes vaporizers and smoking accessories through e-commerce sites in 26 countries and with 5 distribution hubs located around the world. Namaste has majority market share in Europe and Australia, with operations in the UK, US, Canada and Germany and has opened new supply channels into emerging markets including Brazil, Mexico and Chile. Namaste, through its acquisition of Cannmart Inc., a Canadian based late-stage applicant for a medical cannabis distribution license (under the ACMPR Program) is pursuing a new revenue vertical in online retail of medical cannabis in the Canadian market. Namaste intends to leverage its existing database of Canadian medical cannabis consumers, along with its expertise in e-commerce to create an online marketplace for medical cannabis patients, offering a larger variety of product and a better user experience.”
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As discussed above, NXTTF has taken off in recent days as this new-kid-on-the-block cannabis player closes in on its permits and development facility. The entire Canadian cannabis space has been on a major run lately, so the timing couldn’t be better if the company can execute, get licensed, and get up and running in the very near term. Shares have certainly responded. But this also presents a risk if the company fails to lock in a quick turnaround on these advertised steps.
Sean Dollinger, President and CEO of Namaste comments: “These are extremely exciting times for Namaste as we move forward and implement many new and innovative initiatives. We are very excited about the progress of both CannMart and NamasteMD and believe the next few months will be transformational for the Company. I would like to thank all shareholders for their continued support and in helping Namaste reach these important milestones.”
Traders will note nearly 230% piled on for shareholders of the name during the trailing month. This is emblematic of the stock. NXTTF has a track record that includes a number of dramatic bounces. What’s more, the name has registered increased average transaction volume recently, with the past month seeing approaching 540% beyond its prior sustained average level.
At this time, carrying a capital value in the market of $108.9M, NXTTF has a stash ($471K) of cash on the books, which compares with virtually no total current liabilities. 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%. You can bet we will update this one again as new information comes into view. 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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