Industry analysts are giving positive recommendations to recently listed BevCanna Enterprises Inc. (CSE:BEV) (OTC:BVNNF), a developer and manufacturer of cannabinoid-infused beverages and consumer products for in-house brands and white label clients.
BevCanna currently has a “BUY” recommendation from TradingView’s technical analysis, which incorporates multiple market indicators to assess the stock’s price and direction. Both the oscillators and the moving averages point to BEV being a “BUY.”
BevCanna’s Impressive Accomplishments and Portfolio
Though the company was founded in 2018, the BevCanna Enterprises Inc. (CSE:BEV) (OTC:BVNNF) team has decades of experience creating, branding and distributing iconic brands that have resonated with consumers on a global scale. In the short time since it went public, BevCanna has made a tremendous amount of progress towards profitability.
In the last few months alone, the company completed independent lab testing on its proprietary powder ingredient, Deeper Green, and launched not one but two cannabis-infused beverage lines.
The first, Anarchist Mountain Beverages, is a line of THC-dominant sparkling spring water beverages with botanical flavor profiles inspired by the Pacific Northwest. The second, Grüv Beverages, is a range of easy-drinking cannabis-infused iced tea drinks with a balanced CBD and THC profile.
On top of that, BevCanna is in the final development stage for a third product line, LEV. LEV will be a CBD-dominant sparkling alkaline spring water that will be sold in both Canada and California.
BevCanna Share Information and Forecast
Having only debuted on the CSE in July, BevCanna Enterprises Inc. (CSE:BEV) (OTC:BVNNF) is still a new public entity, and such an early buy recommendation from analysts indicates major potential for BEV shares in the near and long term future.
The company currently has 45.5 million shares issued and outstanding. BEV stock achieved a 52-week high of $0.78 in mid-August and as of October 18 is selling at $0.51 on the Canadian Securities Exchange.
According to a report from Deloitte, the Canadian market for cannabis-infused beverages will be worth $529 million annually. In a recent survey of 2,000 adults, 37 per cent said they intend to try them.
As BevCanna’s cannabinoid-infused products are now legal in Canada, and will hit soon hit shelves across Canada and in select regions of the United States, expect to see more buy recommendations for this company in the coming months.
Featured image: BevCanna