CannaVEST Corp (OTCMKTS:CANV) has been moving steadily upwards in recent trading off its base at $2.40. Investors still remember the spectacular run this one made earlier this year from a few dollars to over $200 a share.
When Pot Stocks got hot CANV went sky high. The stock has shown us it can move and as the Cannabis stocks heat up again as we head into November this one might just provide another spectacular trade opportunity like it did the last time around.
CannaVEST Corp (OTCMKTS:CANV) located in Las Vegas, Nevada, focuses on the procurement and wholesale of the hemp plant extract cannabidiol (CBD), and the development, marketing and sale of end consumer products containing CBD, which is refined into its own PlusCBD Oil™ brand. CannaVest resells raw industrial hemp product to third parties, acquired through supply relationships in Europe.
CannaVest Corp.’s subsidiaries include: US Hemp Oil that provides seed procurement, cultivation, processing, and production consultation, and equipment to support U.S. farmers, researchers and businesses to cultivate and process industrial hemp in the US; and CannaVest Laboratories that facilitates cutting edge research and develops nutraceutical and food products, containing cannabidiol (CBD) oil, and is the developer and manufacturer of CannaVest’s own award winning CBD Simple™.
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On October 30 CANV announced that it has broadened its customer base due in part to efficiencies in its supply chain and processing capabilities. As CannaVEST’s processes and protocols have become more refined and efficient, and its supply chain more robust, CannaVEST has been able to pass savings on to its customers in the form of lower prices for its award winning CBD oil. This has resulted in an increase in CannaVEST’s customer base, allowing the company to make its products available to a wider array of businesses and consumers.
“Over the last year, we have further established our supply chain relationships in Europe and have committed to additional inventory and processing capability. We have been able to pass on these economies of scale to our customers, which has resulted in a broader, more diverse customer base,” said CannaVEST Corp. President and Chief Executive Officer, Michael Mona, Jr. Mr. Mona added, “[w]e continue to refine our processing capabilities, and have optimized our quality control and quality assurance protocols, which has led to a more streamlined, efficient and economical process for refining our award-winning CBD products and compounds.”
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Conclusion: the last time pot stocks got hot CANV led the fold running from a few dollars to over $200 per share. Now that the stock has is moving to the upside as the industry heats up again investors are accumulating this one.
One thing longs are betting on is that the Cannabis sector will heat up again as Marijuana is on the ballot in a number of states and this will bring massive attention to the sector. Currently trading at a $100 million market valuation CANV might seem expensive if it was in any other sector. Considering how this one ran the last time pot stocks heated up it deserves to be on investors radars here.
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Disclosure: we hold no position in CANV either long or short and we have not been compensated for this article.