What a wild week that was! The market took us on quite the ride between the action in the blockchain sector and that of the pot stocks sector. Within the former, many stocks such as Block One Capital and HIVE Blockchain were subject to a bit of free fall midway through the week. Largely, this was a result of the price of Bitcoin breaking through support at $10,000 USD for a period of time. Luckily for investors, things managed to perk up by the time markets opened on Thursday morning.
With regards to the pot stocks sector, it started off with bearish action as a follow through from that of last week. With US investors taking the day off for Martin Luther King Day, there was a smaller pool of investors to stave off the bears. Things managed to pick up by mid week however for many in the sector, before turning relatively flat. With the announcement of the Bank of Montreal participating in a massive $175 financing for Canopy, it managed to help float the sector through the tail end of the week. With one session remaining before the close of the week, its anyone’s guess as to where the sector will end.
Friday Recap: Week Ending January 19th, 2018
Harvest One Cannabis Inc (TSXV: HVST)
Our focus this week landed on that of Harvest One Cannabis Inc. This was the result of our first ever poll, where we gave readers the option of selecting which company we performed our full analysis on. Within, we go over all aspects of the company as always. We covered the companies current operations, such as the United Greeneries production facilities in BC and Saskatchewan, and the current progress of the companies pharmaceutical division Satipharm. Time was also spent taking a look at the companies revenues, which are a bit fluffy as a result of an accounting practice used. We conclude the article by establishing a potential valuation based on its potential revenues from its cannabis production. Be sure to give this one a read if you’re even considering an investment in Harvest One.
Cannabis Wheaton Income Corp (TSXV: CBW)
Cannabis Wheaton is a company that has had a polarizing effect within the pot stocks sector. Those that are in favour of the company enthusiastically express it. Likewise, the opposite comes from those of whom have disdain for the company. This is largely a result of the role the company plays in the sector, as well as some early transactions related to the company. We express our emotions related to Cannabis Wheaton, and why we currently sit on the fence with them. To do so, we address both the positive and the negative of the company, and the effects their actions have had across the industry.
Stompy Bot Corporation (CSE: BOT)
With our briefing on Stompy Bot, we tried something new for a change. Rather than perpetually identifying the negatives of a company, we did the opposite. That is, we focused on the positive. To complete this task we created a list of three things we liked on the company. This includes the change in management which is a good sign for future investors, as past results haven’t exactly been top notch. Additionally, we also took a look at the perceived key driver behind the companies price action. We expect this one to act as a short term investment for many traders, provided the price of Bitcoin stabilizes.
Maricann Group Inc (CSE: MARI)
Our upcoming full analysis to be featured this Sunday will be on that of Maricann Group Inc. To give readers a taste of what is to come, we took a look at the share structure of the company in a briefing earlier this week. Based on the demand it saw, we know that there’s some high expectations for this weeks full analysis. Within the article, we identified the strong share structure that the company currently exhibits. This includes the reassurance that insiders provide via their current positions, in addition to their continued buy-in on company raises. If your coming for the full analysis, this is an excellent place to start your Deep Dive ahead of time.
Newstrike Resources Ltd (TSXV: HIP)
The last article of the week was centered around Newstrike Resources. Although it has been in the media a lot lately, it still remains a relatively unknown stock among investors. We worked to change this. To do so, analysis was performed on the latest data on the proposed transaction with CanniMed Therapeutics. From here, we then addressed the current and future facilities that Newstrike currently has in the works. For the finale, we touched on some branding that is currently being developed with a large talent management firm.
Thats all we’ve got for you this week. As always, we’ll be back Sunday morning with our full analysis. This week, we’ll be taking a dive in to Maricann Group as a result of reader feedback. Mark it down on your schedule, you won’t want to miss it. Have a safe and happy weekend, and as always, Dive Deep!
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.