Two Rivers Water and Farming (OTCMKTS: TURV) Takes Off On Hemp Acquisition

Two Rivers Water and Farming (OTCMKTS: TURV) is targeting fresh highs after exploding from all-time lows. The stock is already up by more than 150% as the upward momentum continues to gather pace after a harrowing crash in 2018.

TURV Price Analysis

The stock has recouped a substantial amount of losses accrued over the past year as price action indicates it could be on its way to 52-week highs of $0.63. The trigger behind the recent spike in share price and market activity is the confirmation that the company is poised to acquire three hemp-focused companies.The acquisition drive is geared towards strengthening the company’s new business around hemp production. It also underscores the company’s push for inorganic growth. Investors have reacted to the developments pushing the stock higher.A closer look at the charts it is clear Two Rivers Water and Farming is staring at $0.40 crucial technical level. A rally followed by a close above the immediate resistance level should pave the way for the stock to register higher highs on turning bullish. TURV Daily ChartPullbacks after the recent spike will have to contend with support at the $0.30 mark above which the stock remains supported for further upside action. Conversely, a sell-off followed by a close below the critical support level could give short sellers a reason to come back into the fray and continue pushing the stock lower, in continuation of the long-term bear trend.In our view, Two Rivers Water and Farming remains well supported for further upside action.

What Does Two Rivers Water and Farming Do?

Two Rivers Water and Farming is engaged in the acquisition of land with water rights that it uses for the development of water management and delivery. In the recent past, the company has expanded its footprint into agriculture activity primarily focusing on growing hemp.

Why is TURV Surging?

Ever since Two Rivers Water & Farming confirmed plans to expand its operations into the multi-billion-dollar hemp industry, the stock has taken a flight on improved market sentiments. In a bid to gain a head start in the burgeoning sector, the company has signed agreements that pave the way for it to complete three crucial acquisitions.The company is in the process of acquiring Vaxa Global LLC, Ekstrak Labs, and Gramz Holdings as part of the acquisition strategy. The acquisition drive underscores Two Rivers Water & Farming bid to become a vertically integrated player in the hemp space.

“We are excited about the potential synergies of our acquisition of Vaxa, Ekstrak, and Gramz. Vaxa, Ekstrak, and Gramz are expanding into the Western United States. Vaxa is planning to grow hemp on land owned and water supplied by Two Rivers. Ekstrak is the lab and extraction facilities. Gramz provides end-user products,” stated CEO, Wayne Harding.

Vaxa is a significant acquisition for Two Rivers Water & Farming given that it holds core competency with new brands. It also operates in vertical markets and can produce products. The combined company, following the merger of the four entities, should be in a position to expand into health, natural beverage foods, and beauty related products market.With the three businesses, Two Rivers Water & Farming should be in a position to address various facets of the cannabis sector in pursuit of opportunities for growth. The production of cannabis-induced beverages edibles, as well as related beauty products, should allow the company to target a wider target market, ideal for generating significant sales and shareholder value in the burgeoning sector.

Bottom Line

Shares of Two Rivers Water and Farming taking flight signals renewed investor interest in the stock as the company pursues opportunities for growth in the cannabis sector. By making acquisitions, the company should be able to gain a head start on cannabis cultivation as well as the development of products for the burgeoning sector.Share price gains coincide with an uptick in market sentiments, as the cannabis sector has turned bullish in recent months. After bottoming out, Two Rivers Water & Farming remains well supported for further upside action, given the improved fundamentals and the fact that it has a lot of room to move on the upside.We will be updating our subscribers as soon as we know more. For the latest updates on TURV, sign up below!Disclosure: We have no position in TURV and have not been compensated for this article.