Micron Waste Technologies Inc (OTCMKTS:MICWF) is threatening to break out of a tight trading range, as bulls slowly regain control. The overall cannabis industry turning bullish has also reaffirmed suggestions that the stock could break out to the upside.
Micron Waste Technologies Price Analysis
The stock is the subject of renewed interest in the market on the announcement of a successful cannabis waster system trial with Aurora Cannabis Inc (OTCMKTS:ACBFF). The prosecution follows the awarding of a design Certificate of Registration for food and cannabis waste digester. MICWF Daily ChartThe stock is currently trading in a range at the $0.40 level, after bouncing back from lows of $0.28 a share. Bulls need to breach the $0.48 level, to affirm the emerging uptrend, a development that would pave the way for the stock to make a push for the $0.60 mark.Any sell-offs in the short term would find strong support at the $0.28 mark, from where the stock has consistently bounced back. However, a breach of the support level could fuel the downtrend, which could see the stock edging lower to record new lower lows.
What Does Micron waste Technologies Do?
Micron Waste Technologies bills itself as a waste management company with over $6 million in working capital. The company boasts of an organic waste management system that processes waste on-site, transforming it into clean water that meets municipal discharge standards.
Recent Development
After a lack of activity coupled by low trading volume, Micron Waste Technologies has started experiencing renewed investor interest. High turnover in traded shares is a testament that investors have started taking note of recent developments that could shape the company’s long-term prospects.
Aurora Cannabis Factor
For instance, the company is fresh from completing successful trials for a cannabis waste management system with Aurora Cannabis. The leading developer of waste digesters reported positive results from the optimization of the waste processing unit with Aurora Cannabis.Following the successful trials, the company is now planning to optimize the technology for subzero operations. Plans are also underway to computerize remote operating capabilities, upon which the company intends to offer the units commercially.
“With guidance from Aurora, we have developed a system which checks a box previously overlooked by cannabis cultivators. Data capturing and processing is invaluable, and now customers using the Carnivore can go beyond "seed-to-sale" and mine cannabis waste analytics to improve efficiencies, reduce staff time, aid compliance,” said CEO Dr. Bob Bhutan.
Micron Waste Technologies remains confident about its waste management system given that current disposal methods are inefficient and expensive. The company’s technology not only improves cannabis waste disposal economics, but also streamlines compliance procedures.
CIPO Certificate Factor
A partnership with Aurora Cannabis comes months after Micro waste Technologies earned an Industrial Design Certificate of Registration. The accreditation from the Canadian Intellectual Property Officer is for the Commercial Organic Waste Digester Unit.The patented design will enhance food waste digestion efficiency by up to 40%. It will also reduce the machines footprint and waste digestion time. According to the company’s president, Alfred Wong, the CIPO certificate underscores the company’s innovation in agricultural and organic waste processing biotechnology.
“It has always been Micron’s intention to create a system that was not only best-in-class but one that re-invented that class entirely. Our platform marries organic waste digestion with water reclamation and purification to solve our customers’ waste processing needs cleanly, cost-effectively and without dumping effluent downstream” said Mr. Wong.
The Digester Unit can process both food waste and Cannabis plant waste on a commercial scale. The company is currently seeking patent approval in the U.S.
What Next For Micron Waste Technologies
Micron Waste Technologies recent price spike in the market is a reflection of the overall bullish sentiment in the cannabis market. The surge in share price has come at the back of a high turnover of traded shares.All indication is that the most recent bear run has reached its course and that bulls are starting to regain control. Investors flocking back, in the wake of a recent trial partnership with Aurora cannabis is a catalyst that could continue pushing the stock up the charts.Micron Waste Technologies needs to move with speed and capitalize on its recent waste management system trial with Aurora. The commercial launch of the waste management system is a development that would go a long way, in strengthening the stock’s sentiments and prospects.A deal with Aurora Cannabis for the cannabis, waste management system should be the icing on the cake and could send the stock skyrocketing.We will be updating our subscribers as soon as we know more. For the latest updates on MICWF, sign up below!Disclosure: We have no position in MICWF and have not been compensated for this article.
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