New Age Farm Inc (CNSX:NF) Up By More Than 100%, What Next?

New Age Farm Inc (CNSX:NF) is up by more than 100%, as the long-term bear run continues to lose momentum. Investor sentiments in the stock appear to have ticked higher as the company continues to receive support on positive development at its wholly-owned subsidiary, We Are Kured.New Age Farm Price ActionA surge in share price has mostly been driven’ by high turnover in shares traded alluding to the fact that investors are slowly taking note of the company’s prospects in the multi-billion sector. A rally in share price from this year’s low can be attributed’ to many factors key among them being developments at the company’s subsidiary.Taking into consideration the emerging uptrend, the stock faces immediate resistance at the $0.15 mark after bottoming out from this year’s lows of $0.05. A rally followed by a close above the critical resistance level should open the door for the stock to make a run for this year’s highs of $0.3 mark. NWGFF Daily ChartAny sell-off in the short term should be restricted to the $0.089 mark, below which the stock remains susceptible to further declines back to this year’s lows. However, if recent price action activity is anything to go by, then New Age Farm could be back on the radar and ready to climb high.What Does New Age Farm Do?New Age Farm offers turnkey growing infrastructure and services for growing marijuana in Washington State. The company acquired We Are Cured an innovative CBD and lifestyle company in 2017 as it sought to diversify its operations in the sector. The subsidiary has already inked partnerships with some of the best hemp cultivators, edible manufactures as it looks to develop a robust pipeline of cannabis products.Leadership ChangesThe stock started spiking as soon as New Age Farm confirmed management changes whereby current directors are to step down paving the way for new directors to oversee the company’s next phase of growth. Leadership changes should allow the company to accelerate its operations in Washington State in addition to increasing breadth and depth on the company’s wholly subsidiary We Are Kured LLC.Inventory SaleNew Farm Age has also caught the attention of investors on announcing the shipping of all second-generation disposable vaporizer pens to retailers and wholesalers. The company expects new orders of vaporizer pens in the coming weeks, which should go a long way in strengthening revenues in the current quarter.

"Given that Kured is a relatively new company in the CBD industry, we are extremely pleased with how quickly the second generation pens sold out and are eagerly looking forward to the arrival of new pens next week,” said Chief Marketing Officer Benjamin March.

The company has also engaged the services of Apex Drop, a micro-influencer agency, as part of its latest social media marketing campaign. The company hopes to leverage the influencer’s creative and professional posts to reach a vast amount of individuals on various social media platforms. Apex Drop is an ideal partner as it has the ability to reach over 150 million social media users.Retail ExpansionInvestor confidence on New Age Farm also appears to have ticked higher on the company underscoring its commitment to expanding its retail presence across the U.S through the We are Kured subsidiary. The subsidiary’s CBD vaporizer pens can be found’ in over 100 unique retail store across the U.S an important feat that allows the company to diversify its revenue streams.In addition, the New Age Farm subsidiary has signed a new office lease as it seeks to bring its manufacturing operations in-house. The move should allow the company to reduce operating costs by as much as 50% which should lead to improved gross margins.

"We've ramped up our marketing and sales force efforts and are rapidly gaining traction. We've seen huge retention and reorder rate among our retail partners. Given that we signed on over 60 unique stores at the recently attended champs trade show, we are optimistic we will outdo that at the upcoming big industry trade show,” said CEO Joshua Bartch.

What Next For New Age FarmAfter months of underperformance, New Age Farm is finally showing signs of a resurgence thanks to positive developments at its We Are Kured Subsidiary. Given that, the underlying long-term trend points to further movements on the downside the company may have to serve new catalysts for the stock to continue powering high. That said New Age Farm, looks like an exciting long-term play for investors who wish to gain exposure in the cannabis space at minimal risk.We will be updating our subscribers as soon as we know more. For the latest updates on CNSX.NF, sign up below!Disclosure: We have no position in CNSX.NF and have not been compensated for this article.