NXGWF
Cannabis

Next Green Wave Holdings Inc (OTCMKTS:NXGWF) Bulls Resume Control

Next Green Wave Holdings Inc (OTCMKTS:NXGWF) is picking up some speed after turning bullish early in the year. The stock is already up by more than 90% as the upside action continues to gather pace. A spike in share price comes on the company achieving significant milestones in strengthening its prospects in the cannabis sector.

NXGWF Share Price Analysis

For starters, the company is fresh from signing an MOU that paves the way for it to venture into the Colombian Medical cannabis market. The company has also secured permits that allow it to commence work on a new extraction and innovation facility, in Coalinga California.

However, it is the acquisition of 100% stake in SD Cannabis, for $27 million, which appears to have strengthened investor’s confidence in the stock. After consolidating in the $0.48 to $0.42 trading range, the stock has once again skyrocketed in line with the long-term uptrend.

After the recent spike, supported by improving fundamentals, Next Green Wave Holdings looks like a pull back play. Pullbacks in the short term will have to contend with support at the $0.48 mark. Above the critical support level, the stock looks set to continue edging higher.

NXGWF Daily Chart

A breach of the critical support level, on the other hand, would leave the stock susceptible to further drops, probably back to the $0.42 mark seen as the next support level. As it stands Next Green Wave Holdings remains well positioned to continue powering high, in line with the bullish momentum in the overall industry.

What Does Next Green Wave Holdings Do?

Next Green Wave Holdings casts itself as a vertically integrated seed-to-consumer premium medicinal and recreational cannabis company. The company is engaged in cannabis nursery breeding as well as cultivation extraction and distribution.

Why is Next Green Wave Holdings Skyrocketing?

Shares of Next Green Wave Holdings are flying high on the announcement the company is poised to complete the acquisition of California based SDC Ventures for $27 million. With the acquisition, the company is posed to gain access to eight leading cannabis products, expected to strengthen its revenue base. In addition, the company will gain access to 45 CBD and THC products with a combined social influencer reach of 25 million people.

The acquisition underscores Next Green Wave Holdings readiness to pursue growth in the cannabis sector, be it through acquisitions or organically.

“The SDC team shares our vision and provides expertise that is synergistic to that of Next Green Wave – to be the number 1 cannabis consumer products goods company in California. Not only does this acquisition give us an array of premium brands associated with key world-renowned influencers to penetrate global markets, but it also gives us increased distribution with revenues from sales, along with direct to consumer reach, relationships and specialty extraction methods,” stated Leigh Hughes, CEO of Next Green Wave.“

Colombia and Canada Opportunity

In addition to SDC cannabis acquisition, New Green Wave has also signed a definitive agreement that paves way for it to complete a strategic investment in Organic Medical Growth. The investment will expand the company’s footprint into Canada and Colombia’s burgeoning cannabis landscape.

Organic Growth produces CBD products that it commercializes in the Colombian market. The company’s boasts of a robust distribution channel made up of 7,300 pharmacies. New Green Wave should be able to leverage the distribution channels, as it continues to strengthen its sales channels.

New Green Wave has also secured final regulatory approval from the city of Coalinga in California. With the approval, the company can move forth and accelerate its seed and seedling production program in the city. Plans are already underway to set up a second cannabis extraction facility in the city, as the company is to strengthen its operations in California.

“Once regulatory approval and occupancy is granted, this facility has an immediate impact on our revenues and our ability to bring Intercom Corporation into our nursery research and innovation project. This is a pivotal moment for Next Green Wave as we actuate our second facility,” stated Leigh Hughes, CEO.

What Next For New Green Wave

Management has made significant progress in executing a strategic roadmap that positions New Green Wave for robust growth. The company pursuing both organic and inorganic growth underscores how focused the management team remains, in pursuing growth at all costs. After the recent spike, the stock looks set to keep climbing higher as the company continues to fire on all cylinders.

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

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

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Next Green Wave Holdings Inc (OTCMKTS:NXGWF) Bulls Resume Control
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