A final court ruling approving reorganization and the signing of a deal to bring Holographic Display technology into the cannabis market is the latest catalysts pushing Future Farm Technologies Inc. (CNSX:FFT) up the charts. In addition, investors are slowly taking note of the company’s achievements in the first half of the year that seem to have eased negative sentiments on the stock.Future Farm Technologies Price AnalysisFuture Farm Technologies has without a doubt served catalysts that have the potential to trigger a bounce-back of the stock from current lows. For starters, high turnover in shares traded in the recent past, underscores renewed investor interest as most of them continue to take note of the revitalized opportunities for growth.While the stock is still engulfed in a long-term downtrend, recent price actions indicate a reduction in short selling pressure that had threatened to plunge the stock to multi-year lows. In recent weeks the stock has rallied by more than 60% and is currently flirting with a critical resistance level. FFRMF Daily ChartA rally followed by a close above the $0.35 mark should reaffirm the emerging bull trend, setting the stock on track to rise to the $0.50 mark, seen as the next substantial resistance level. On the downside, the stock faces immediate support at the $0.20 level, below which it could drop to its 52-week lows of.Future Farm OverviewFuture Farm Technologies is a Canadian holdings company with operations throughout North America. The company’s core objective is advancing agriculture, for the production of wholesale and retail cannabis products. In addition, the company partners with licensed cannabis operators with the aim of acquiring and developing cannabis production technologies.Recent DevelopmentsFuture Farm technologies appear to have caught the attention of investors on reiterating it had a busy and fruitful first half of the year. For the first six months of the year, the company focused on integrating its acquisitions as well as addressing market needs and improving operations as part of its commitment to increasing shareholder value.The company successfully raised $4 million, funds it intends to use to expedite growth in the second half of the year.Company ReorganizationA recent surge in trading volume that has seen the stock bottom out can be attributed to a final Supreme Court ruling, which paves the way for the rearrangement of the company, Shareholders, and NexTech AR Solutions Corp.Under the agreed plan, Future Farm is to spin out 11 million common shares of NexTech to its shareholders on a pro-rata basis. Once complete the company’s shareholder will be the sole owners of 25.8% of NexTech issued and outstanding common shares.
"We are glad that the majority of our shareholders agreed with our plan to spin-out NexTech, and that the court issued its approval," comments William Gildea, CEO of Future Farm. "NexTech occupies a valuable niche in the cannabis market, and now shareholders of Future Farm will enjoy its success as well."
Holographic Display Technology DealThe signing of a deal to bring Holographic Display Technology is one of the most significant developments that seems to have reinvigorated Future Farm Technologies growth prospects. According to NexTech AR Solutions, which the company has signed the exclusive worldwide license agreement with, the emerging technology is ready for deployment and should take cannabis retailing to a whole new level in the industry.Thanks to the Holographic, technology cannabis stores will be able to deploy 3D screens without screens to advertise their wide array of cannabis products. The technology can also be leveraged for streaming live events in a bid to bring customers closer to their favorite producers.
"Our holographic displays and telepresence technology are a natural fit to take cannabis retailing to a whole new level. With this agreement in place, we have the potential to be in hundreds of locations in North America over the next few years,” said Larry O'Reilly, ARHT's CEO.
What Next for Future Farm TechnologiesDespite the underperformance of the stock, Future Farm Technologies had a fruitful first half, having achieved a significant milestone in the integration of acquisitions. Buoyed by the performance, the management expects the company to transition into a revenue-generating entity in the fourth quarter on dispensaries in Puerto Rico and Massachusetts coming online. The company’s hemp farm in Maine is also set for its first harvest in the fourth quarter.The stock’s poor show in the first half of the year cannot in any way be attributed to Future Farm Technologies deteriorating performance. The company appears to be firing on all cylinders when it comes to execution of a business strategy whose impact will be felt starting the fourth quarter.Heading into the fourth quarter the stock should gain further strength as it bounces back after the steep decline.We will be updating our subscribers as soon as we know more. For the latest updates on FFT, sign up below!Disclosure: We have no position in FFT and have not been compensated for this article.
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