Halo Labs
Cannabis

Halo Labs Inc (OTCMKTS:AGEEF) Bull Run Still Intact

Halo Labs Inc (OTCMKTS:AGEEF) flying start to the year does not come as a surprise. The stock is already up by more than 100%, on strengthening investor confidence about the company’s growth prospects. The Oregon-based company has seen its sentiments in the market inch higher thanks to a successful expansion drive.

Catalysts And Share Price Analysis

After moving to California last year, the company has gone on to ink a $2.2 million monthly extraction contract with Falcon International. The company has also expanded its footprint into Nevada where it has licensed a processing facility with a daily production capacity of 15,000 grams.

With a production capacity of 100,000 grams of cannabis oils and concentrates a month, Halo Labs is slowly turning out to be a leader in the cannabis concentrate sector. Investors moving to take a piece of the company’s shares does not come as a surprise given the underlying developments that affirm long-term growth.

Halo Labs is skyrocketing in the market having already outperformed the overall industry. A 100% plus spike in share price, attests to renewed investor interest in improving fundamentals. After the recent spike, the stock looks like a pullback play.

AGEEF Daily Chart

Sell-offs looks set to experience strong support at the $0.36 level from where the stock started the current bull-run. Below the $0.36 level, the stock could drop to the $0.30 level, the next substantial support level. However, as it stands, Halo Labs looks set to continue powering high especially on pullbacks.

About Halo Labs

Halo Labs is an Oregon-based manufacturer of cannabis oils and concentrates. The company controls about 20% of the state’s concentrates wholesale market. In addition, the company serves licensed retailers and wholesalers in the cannabis sector

Booming Business

Halo Labs has taken the cannabis sector by storm in 2019 on investors taking note of the milestone achieved so far. For starters, the company is making good use of its leading market position in the concentrates business in Oregon a performance that has seen it generate more than $25 million in revenues.

The pursuit of growth opportunities in California, one of the biggest cannabis market, is another development that continues to excite the market. The announcement that the company achieved record revenues of $2.4 million in January all but affirmed the company’s growth prospects. The management attributes revenue growth to the commercial launch of operations in California.

DabTabs Oregon and Nevada Launch

In the recent past, the company has sought to strengthen its prospects in the industry with the launch of its proprietary ceramic discs DabTabs in Oregon and Nevada. DabTabs are ceramic discs designed to store a single dose of cannabis concentrate on oil. They are intended to provide a mess-free way of consuming cannabis oil and concentrates.

David Orr, Chief Revenue Officer of Halo Labs, said: “DabTabs™ are a breakthrough product and, in a highly competitive space, provide a refreshingly new and different way for consumers to enjoy their cannabis experience. We are thrilled to be collaborating with kilo to introduce DabTabs™ as the first product under our GILT brand.

Supply Agreement

In addition to DabTabs launch, Halo Tabs has also signed a bulk supply agreement with Cannus Partners in California. Under the terms of the agreement, Cannus is to supply Halo with up to 1,500 pounds of cannabis products a week. In return, Halo is to manufacture and supply Cannus with 50,000 grams of high-grade distillate a week. The deal is valued at $250,000 a week

“There is significant demand growing in California for a consistent supply of premium distillate. It was important for us to collaborate with Halo, who is a leader in developing oil and concentrate products that our customers are demanding,” said Brian Baca, CEO of Cannus Partners.

What Next For Halo Labs

While Halo Labs is not a popular name in the cannabis sector, it is only a matter of time before it goes mainstream. Listing on the OTCQB market paves the way for the stock to enjoy the much-needed exposure that could help steer the stock higher.

The company has already shown it is firing on all cylinders when it comes to operational efficiency. Robust revenue growth supplemented by a 20% plus market share in the concentrates oil business in Oregon attests to a company that is destined for greater things going forward. That said the stock should continue surging, making AGEEF an ideal long-term play.

We will be updating our subscribers as soon as we know more. For the latest updates on AGEEF, sign up below!

Disclosure: We have no position in AGEEF and have not been compensated for this article.

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Halo Labs Inc (OTCMKTS:AGEEF) Bull Run Still Intact
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