Aleafia stock is keeping investors on their toes. Yesterday's stock chart saw ALEF stock jump around; it opened at $2.67, fell to $2.47 two hours later, jumped back up to $2.64 mid-afternoon, and eventually closed at $2.58.
This kind of behavior tends to denote that Aleafia stock is being talked about. This is important. Aleafia's chart is a much better-looking chart than those that flatline across the whole day—even if it means it now has some losses to pare.
Aleafia Stock on the NASDAQ?
Aleafia Health (TSXV:ALEF) has been one of the strongest cannabis penny stocks on the market for some time. The Canadian vertically integrated medical cannabis company owns and runs the 22 Canabo Clinics across Canada. These make up the country’s largest network of referral-only medical cannabis clinics.
And with a plan to up-list to the NASDAQ, the company is now aligning itself with the biggest names in the cannabis biz, which could put Aleafia stock in the headlines once more.
According to its Chairman Julian Fantino:
"Listing on the NASDAQ is another step as we continue the relentless execution of our stated goal of attaining a global leadership position in the cannabis space."
Realistically, a NASDAQ listing won't happen until 2019; the company is only at the beginning stages. A shareholder meeting has been arranged for early December to start the ball rolling. But then there's also a lot of paperwork to get through.
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But the simple fact that Aleafia is moving in this direction is a statement to its investors that the company is expecting big things of itself. And as its track-record shows, it can easily deliver.
Aleafia Stock will Shine with CannaPacific Acquisition
Earlier this month, the company took steps to expand internationally. It did this by signing an agreement with CannaPacific Pty Ltd. The deal will see Aleafia Health acquire a 10% equity stake in Canna Pacific.
The acquisition launches Aleafia's global expansion—starting with this new foothold in the Australian medical cannabis market.
Australia will also be a gateway to the Asian market, as well as offer international distribution for Aleafia's white-label medical cannabis product.
Fantino spoke of the acquisition:
“This strategic investment in an emerging medical cannabis market marks Aleafia’s first step towards a broader global expansion.”
Aleafia Health is eager to continue growing. As stated, don't be fooled by the volatility of this stock's action. It's better for the stock to be moving around than not; it means Aleafia stock is trading hands.
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