The previous year was hard on the stock markets, with numerous firms’ stock losing value throughout the year. While AMMJ price suffered its fair share of difficulties, going from $1.25 to as low as $0.25, things have changed as soon as 2019 arrived.
In the first half of January 2019, AMMJ price surged from its support level at $0.25, growing up until it was stopped by a resistance level at $0.60. A strong surge was followed by a minor price correction, which resulted in AMMJ price getting just below $0.50, which currently acts as its resistance. However, the stock price stabilized in the second half of January, and it remained stable ever since.
The AMMJ price expressed similar behavior last year, from late April until early June, spending the time in between in near-perfect stability, although its price back then was just below $1. However, stability just underneath the resistance means that the price is not being held from dropping, but that it is ready to grow further up, which puts the AMMJ among the best investment opportunities in the cannabis industry right now.
American Cannabis Company background
American Cannabis Company Inc. (OTCMKTS: AMMJ) acts as American Cannabis Consulting, together with its subsidiary, Hollister & Blacksmith Inc. They provide various US and Canada-based cannabis businesses with solutions, consulting, and advisory services. These include things such as cannabis business license applications, regulatory compliance, commercial business planning, business growth strategies, and more. Additionally, the company also offers products and equipment designed to be used for cannabis cultivation, as well as processing and transportation.
The company recently operates in multiple US states, as well as in Canada, as mentioned. It recently announced its first industrial hemp consulting contract with the Wemp Company, based in Alabama. The company will operate 20-acre industrial hemp, aiming to make a positive impact on the struggling economic community. This is an important move for American Cannabis Company also, as it will be a major influence on the Wemp Company’s plan creation and other aspects of the project.
It would not be surprising that the company’s stock price starts shifting upwards once again due to projects such as this.
Further, American Cannabis Company also went through some inner changes back in January, when it announced that Tyler A. Schloesser would become its new Chief Operations Officer. Mr. Schloesser already has quite an impressive background due to his work with various banks, such as Wells Fargo, the US Bank, as well as Credit Union. Now, he will work on developing and maintaining procedures, policies, processes, as well as practices of risk mitigation. Also, on the day of the announcement, Jon Workman became the Vice-President for Hemp Business Development.
This was followed by another announcement back in mid-February, where the company stated that it intends to seek acquisitions. It mentioned it would offer a large variety of services, such as farm and greenhouse design, seed sales, business plan creation, a license acquiring, crop improvement, and more.
As for the AMMJ price itself, its current stability might end up being disrupted in the near future. The company’s success may influence the price in a positive way, causing it to start growing and maybe even experiencing a sharp surge. Unless an entire stock market experiences another crash, such as the one in late 2018, the future looks bright for AMMJ.
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Disclosure: We have no position in AMMJ and have not been compensated for this article.