Theramed Health Corp (OTCMKTS: EVAHF) has exploded on a huge turnover of traded shares after a series of promo emails were sent. The stock has rallied by more than 60% as the upward momentum continues to gather pace and Barchart calling the stock a Buy.
Theramed Health Price Analysis
The spike comes on the Company confirming plans to become the first Company to offer a complete quality-assured vertically integrated CBD health System. The proposed system seeks to make it easier for people to monitor and record the effects of CBD in the cardiovascular system.
The fact that the Company is ahead of the game and could be the first to market the revolutionary system explains why the stock is flying high in the market. It appears investors are jostling for stakes in the stock if a spike in market activity in recent weeks is anything to go by.
The formation of a steep uptrend underscores the strength of the upward momentum as Theramed Health Corporation closes in on a crucial resistance level. The $0.17 level is the immediate resistance level standing in the way of the stock powering high and registering a new 2019 highs.
A spike followed by a close above the technical resistance level should affirm the emerging uptrend, setting the stage for the stock to make a run for 52-week highs. Failure to take out the resistance level could result in the stock trading sideways as part of a consolidation phase.
What Does Theramed Health Corporation Do?
Theramed Health Corporation casts itself as a technology Company focused on the provision of automated biomedical online services for addressing various health problems. Its lead product is FAST, a medical device designed to monitor blood pressure and enable physiologically interactive health apps.
Theramed CBD Ambitions
Theramed Health Corporation has taken the market by storm on introducing a revolutionary system for monitoring the effects of CBD in the cardiovascular system. Tulip System initially approved for use in Canada and Europe for blood pressure monitoring, is the new system that underscores the Company’s prospects in the burgeoning CBD space.
In an attempt to pursue opportunities for growth in the sector, Theramed Health Corporation has also inked a strategic partnership with Belt Energy and Biomass a licensed Nevada hemp operator. The deal signed through the Company’s subsidiary Western Agri Solutions Supply Corp will result in the development of a hemp extraction facility.
”When completed, our facility will be able to process enough hemp to produce approximately 200Kgs of CBD isolate per month. With this volume of throughput, we will be able to satisfy our sales channels with our line of premium CBD based products subject to applicable federal and local laws,” said Mr. Brown, President of Western Agra Solutions Supply Corp (”WASSC”).
CBD Extraction Push
The two have since formed a joint venture tasked with the responsibility of purchasing raw hemp and processing it through state-regulated extraction methodology. The ultimate goal is to produce cannabis extracts that will go a long way in the development of CBD products.
The formation of the joint venture comes on the heels of Belt Energy and Biomass securing a Hemp Handlers Certificate in the State of Nevada. With the new license, the Company can now engage in cannabis processing operations using regulated extraction methodologies.
Theramed Health Corporation has since closed the first tranche of a private placement and consequently raised $505,000 in gross proceeds. With the new finances, the Company is planning to pursue strategic initiatives key among them being the development of CBD products.
“The Company is continuing work on developing products, research, and health technologies for the commercialization of CBD based protocols and product development for a CBD Health System,” Theramed Health Corporation in a corporate update.
The pursuit of growth opportunities in the multi-billion-dollar cannabis space is one of the reasons why Theramed Health Corporation is flying high. The Company has already hit the ground running with the establishment of cannabis extraction facility, a development that continues to excite investors.
Moving to market with the first of its kind system for monitoring the effects of CBD in the cardiovascular system is another development that continues to prop the stock’s market sentiments. That said, be cautious as the surge was really caused by a series of promo emails. It remains to be seen if EVAHF has staying power.
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Disclosure: We have no position in EVAHF and have not been compensated for this article.