Staff Writer

A Closer Look at Some Controversial Stocks

By Staff Writer,

Controversial or not, it’s still one of the most profitable stories of 2017.

Multiple states have approved its medicinal and/or recreational use. Several more are likely to follow suit. And while Canada has noted it would take its time with regard to broad legalization, the opportunity to find profitable opportunities is big.

In the U.S. alone, analysts peg the marijuana market with a $22 billion to $50 billion valuation by the time 2020 rolls around.  Fueling the boom even more is the fact that more than 60% of Americans want marijuana handled no differently than tobacco.

The story is hot.  The fundamentals are incredibly promising.

However, we must also understand what’s happening technically to get a bigger view.

Look at Kush Bottles (KSHB) for example.

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Kush Bottles provides packaging solutions for the marijuana industry.  It just quadrupled its California operating with growth as explosive as it is.  Revenue just jumped 44% to $2.47 million in the first quarter of 2017.  Gross margins were up to 33.8%.  Working capital soared to $3.38 million from $0.26 million.  So it’s quickly growing under the hood.

Technically, after an explosive run from $1.50 to $6 a share last year, the stock has pulled back to $1.88.  However, it looks to have found and is holding support at that level with relative strength, MACD, and Money Flow indicating the name is excessively oversold.

Or, we can look at a medicinal marijuana stock like GW Pharmaceuticals (GWPH), which has been explosive since early 2016.  The stock is now stuck in a tight consolidation pattern at $121, with considerable amounts of technical support at $110.

Oversold Canadian marijuana stocks have piqued our interest, too.

We’re seeing further institutional interest in OrganiGram Holdings (OGRMF) – which produces organically grown medical marijuana.  It generated $1.4 million in revenue, $55,000 in net income and $25,000 in free cash flow in the first quarter.  Technically, OGRMF is holding double bottom support at $1.70 and could appreciate once Canada begins to move on marijuana legalization.

With many of these names, the technical stories are just as hot as the fundamentals.

Should analysts be correct with their assessments of a $50 billion industry in four years, these are some of the names to consider.

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Staff Writer


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