Integrated Cannabis (CNSX: ICAN) is on the verge of finishing the year on a high given the strong fundamentals that continue to support the upward momentum. The stock is the subject of renewed investor interest, in the wake of the company signing a string of co-development, distribution, and marketing agreements for its novel spray products.
Integrated Cannabis Price Analysis
The stock’s sentiments in the market have also inched higher on the company reporting positive results on the ongoing clinical study of its X-SPRAYS Sleep product. For the better part of the first half of the year, Integrated Cannabis was on the receiving end. Short sellers managed to push the stock to lows of $0.60 a share.
The second half of the year has, however, turned out to be a pivotal phase as the stock has continued to climb higher, with the upward momentum showing no signs of cooling off. The stock is already up by more than 70% for the year even on underperforming in the first half.
After initially rallying to the $1.78 level, the stock has pulled back and is currently trading at the $1.44 level. The pullback appears to be a minor correction on investors taking profits after the recent blockbuster run on the upward.
The stock faces immediate support at the $1 a share level, on further pullbacks. Given the recent upward momentum, a breach of the $1.78 level should open the door for the stock to continue powering high to new higher highs.
About Interrelated Cannabis
Integrated Cannabis is an integrated company focused on the development, manufacturing, marketing and distribution of consumable products in Canada. The company’s pipeline of products includes a line of healthcare and life enhancement nutraceuticals sprays, for pain relief under the X-SPRAYS brand name.
The company is comprised of a dedicated team of scientists and product engineers all passionate about health and creation of lifestyle products.
Why is Integrated Cannabis Skyrocketing?
Integrated Cannabis continues to trade higher in the market, on huge turnover of traded shares, on strengthened investor confidence about its long-term prospects. The signing of a string of co-development and marketing agreements has once again reaffirmed its X-SPRAYS product line prospects.
The company has already signed an agreement with GTEC Holdings Ltd, for the development and marketing of the novel spray products for the Canadian market. The products up for development and distribution will come with Cannabidiol and Tetrahydrocannabinol.
“Partnering with a Licensed Canadian Producer has been a major goal of ours in order to facilitate the expansion of our product line into legal, established marketplaces,” said Mr. John Knapp, CEO of Integrated Cannabis.
GTEC agreement follows the signing of a distribution agreement with Empower Clinics. Under the terms of the deal, the two companies’ marketing and distribution teams are to work together on the rollout of new products. Integrated Cannabis will also be able to distribute its new line of CBD INFUSED x-sprays made up of Sleep, Recover and Energy on Empower ecosystem.
The Empower deal marks another important milestone for Integrated Cannabis as it paves the way for the distribution of its products across all U.S markets. The alliance should thus help the company reach a broader market as it continues to strengthen its revenue streams.
Separately, Integrated Cannabis has reported positive clinical study results on trials of its proprietary Sleep product. Study results indicate that the Sleep product is an effective remedy for improving sleep patterns while also acting as a reliable medication for relieving pain.
“The unique formulation of ingredients in the X-SPRAYS™ sleep supplement contributed to a significant improvement in sleep quality together with a reduction in daytime sleepiness, pain, and depression, when compared to the control group,” said Dr. Clive Spray, CSO of Integrated Cannabis.
In addition to signing development and distribution agreements as well as reporting positive clinical study results, Integrated Cannabis has also caught investor attention on reiterating acquisition plans. The Chief Executive Officer confirming they are in the latest stage of reviewing potential acquisition is a positive. The announcement underlines the fact that the company is ready to pursue growth at all costs.
Integrated Growth Cannabis has turned bullish in the market not on speculation but on solid underlying fundamentals. The company is in the best shape of its life depicted by positive clinical studies of its X-SPRAY product as well as the signing of marketing and distribution agreements.
The stock looks set to continue surging as investor confidence in the company continues to strengthen. That said, any pullback after the recent surge should act as buying opportunity as the stock is poised to continue flying high.
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Disclosure: We have no position in CNSX:ICAN and have not been compensated for this article.