The Greater Cannabis Company, Inc. (OTCMKTS:GCAN) An Exciting Pick After Steep Pullback

The Greater Cannabis Company, Inc. (OTCMKTS:GCAN) is showing signs of bouncing back after a steep pullback from all-time highs of $0.74. Underlying fundamentals have strengthened in recent weeks, seen as one of the catalysts supporting the upward momentum. The stock has resorted to trading in an uptrend as pullbacks emerge as buy opportunity from where the stock has continued to trade higher.

The Greater Cannabis Company Price Analysis

Investors’ confidence in the stock has inched higher on the company embarking on an aggressive expansion drive. The company has strengthened its distribution network as it looks to get its eluting patch platform into key global markets.The Greater Cannabis Company has also ramped up its efforts all in the effort of commercializing its underlying technology. The company positioning itself to capitalize on expected growth in the industry continues to strengthen its sentiments in the market.After underperforming for the better part of last year, the stock has started powering high on investors taking note of the company’s long-term prospects. A rally followed by a close above the $0.2 mark should affirm sentiments that the stock has turned bullish. Above the $0.2 mark, the stock should be on its way to 52-week highs of $0.74. GCAN Daily ChartOn the downside, the stock faces immediate support at the $0.12 level. A sell-off followed by a close below the critical support level could give short sellers a reason to continue pushing the stock lower in continuation of the sell-off that begun last year.

What Does The Greater Cannabis Company Do?

The Greater Cannabis Company casts itself as a biopharmaceutical company focused on the development and commercialization of cannabinoid delivery systems. The company boasts of a conveyance platform that can be used to deliver cannabinoids without triggering any harmful side effects, as is the case with other delivery systems.Why is The Greater Cannabis Company Surging?

iCAN Strategic Partnership

The Greater Cannabis Company has started showing signs of bottoming out, on investors taking note of a milestone agreement that the company has signed. A deal with leading global cannabis, company iCAN paves the way for the company to accelerate the commercialization of its eluting patch platform.The deal will allow the company to commercialize the device in key global markets. Simply put the eluting patch platform is a delivery platform, designed to deliver precise cannabinoids dose into the body through the buckle mucosa.Under the terms of the deal with iCAN, the company will be able to commercialize ready formulations to service cannabis demand in both recreational and medical markets. Some of the markets that the company will target as part of the commercialization drive include Israel, Australia, Mexico, and Germany.

“I believe this technology can redefine how consumers think about cannabis. From the lower dosage form to the controlled and slow release mechanisms, and the ability to use it anywhere, I believe the product will resonate really well with consumers and generate rapid traction in the markets we intend to bring it to,” said iCAN CEO Saul Kaye.

Bringing the technology to market is the company’s ultimate goal as the licensed technology has proved from time to time to have the ability to accord consumers an easy and safer way of consuming cannabis. The Greater Cannabis Company has since formed a sales team, tasked with the responsibility of accelerating commercialization of the eluting patching platform technology. The team has already held discussions with C-level management of some of the biggest companies consequently signing binding term sheets.

“Our shareholders should know that our attention is being placed where it should be, on building long-term shareholder value by growing the business and generating revenues.[…] Our Company is very well positioning to capitalize on the growth of what is quickly becoming an industry led by innovation,” said commented Mr. Zacharin, CEO of Greater Cannabis.

Bottom Line

The Greater Cannabis Company has on its hands a proven technology for delivering cannabis into the human body. The fact that the company has begun commercializing the technology signals a pivotal year in the race for revenues in the burgeoning sector.The company has reiterated its commitment to generating long-term shareholder value by focusing on accelerating revenue growth in 2019. That said it does not come as a surprise that the stock has started bouncing up after a steep pullback from all-time highs.The stock should continue trading higher on investors taking note of the market potential of the company’s eluting patch platform.We will be updating our subscribers as soon as we know more. For the latest updates on GCAN, sign up below!Disclosure: We have no position in GCAN and have not been compensated for this article.