Booming business, as well as improved operational efficiency, are some of the reasons why Yield Growth Corp (OTCMKTS:BOSQF) is flying high in the market. The company has been signing deals having also revamped its product line as it continues to expand its footprint in the multi-billion cannabis industry.
Share Price Analysis
Investors have reacted to the company’s progress, conversely helping push the stock up charts. The stock is already up by more than 80% in what is turning to be an inflection year for a company that is looking to make a name for itself in the multi-billion industry.
Recent spikes have come on the company announcing that it has registered new cannabis products under its Urban Juve Brand. With the products eliciting strong demand in the industry, the company could as well be on its way on to a groundbreaking year, on revenue generation.
In addition, Yield Growth has launched ten new products as it continues to expand its footprint in the industry. Its balance sheet has also received a significant boost on the company receiving $3.6 million worth of warrant and option exercises.
It does not come as a surprise that Yield Growth is skyrocketing’ up the charts, given the positive developments that continue to strengthen investor confidence. After a recent spike higher, pullbacks should act as buy opportunity from where the stock looks set to continue climbing the ladder.
While the stock has started pulling down after a registering new 52-week high of $0.72, it faces immediate support at the $0.52 level. Above the critical support level, the stock looks set to continue powering high especially on breaching the critical resistance at $0.72.
In our view, Yield Growth remains well positioned to continue powering high as it is firing on all angles in pursuit of growth opportunities in the cannabis sector.
Product Line Revamp
In pursuit of revenue opportunities in the cannabis sector, Yield Growth has unveiled ten new products all infused with cannabinoids. The ten products include four facial skin care products, four essential oil wellness blends and two for creams.
Urban Juve, the company’s wholly-owned subsidiary, will be the first to commercialize products infused in hemp root oil. The subsidiary has also developed four exotic essential oils wellness products that contain hemp root oil. The products are geared towards people struggling with energy boost, headache or sleep.
The subsidiary has also registered three lip-glosses for sale, with Health Canada. Each of the products come with a unique blend of cannabis sativa, hemp seed oil, and hemp root oil, extracted using proprietary patent-pending technology. The unveiling of the ten new products comes just days after the company unleashed six new cannabis products with its proprietary hemp root oil.
“We are thrilled to register new products for the Urban Juve brand. This brand has been very well received in discussions with major retail chains in Canada and the United States. We are now designing packaging for our new products that will be compliant with Quebec, Canada, and U.S. FDA labeling regulations so we can sell our products through international retail chains,” said says Urban Juve President Sandi Lesueur.
With the new products, Yield Growth remains well positioned to target the global hemp oil market that accounted for about $81 million of sales in the cannabis sector in 2017. In addition, the market is poised to grow to $1.2 billion by 2026 as the target market in North America and abroad continues to grow.
The pursuit of revenue opportunities with the newly revamped product line has received a significant boost on Yield Growth succeeding on a $3.6 million offering of warrant and option exercises.
“With the additional capital and our strong stock performance we intend to expand our brand portfolio and continue to build shareholder value through strategic acquisitions and joint ventures,” said Penny Green, President, and CEO of Yield Growth.
Share price swing coincides with an uptick in market sentiments. The stock looks set to continue powering higher as the company continues to strengthen its product line in pursuit of growth opportunities in the industry.
While Yield Growth is already up by more than 90% for the year, it could still generate substantial gains, especially on pullbacks. For investors eyeing opportunities in the sector, Yield Growth is an ideal dip play.
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Disclosure: We have no position in BOSQF and have not been compensated for this article.