Wall Street continues to take notice of CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF). A leading software development and technology company, CannaOne develops cannabis e-commerce tools to serve cannabis markets around the world.
This exciting and innovative company has attracted a “BUY” rating and a price target that indicates serious growth from the stock's current price.
Immediately following its IPO, shares of CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF) rose from $0.65 to reach a peak at $1.80. This was the market's initial excitement for a company that combines the lucrative worlds of e-commerce and cannabis.
Since then, CNNA shares have lost value at a mostly steady rate. Currently, the stock is trading at $0.16—an all-time low. This presents pot stock watchers with a unique buying opportunity.
CannaOne Technologies is Poised for Expansion
As revealed in the company's latest corporate update, most of CannaOne Technologies' (CSE:CNNA) (OTCPK:CNONF) value is yet to come.
CannaOne currently owns and operates the BWell Market. BWell facilitates the sale of premium CBD products from suppliers to consumers in the United States. While BWell has already been a considerable success on its own, importantly, the e-commerce site is easily scalable for other markets.
The company is already looking to expand into the UK market through a Memorandum of Understanding with LevelOut UK. In addition, it plans to launch an online CBD marketplace for Mexico in partnership with Manna Health Services SA de CV.
And it's not just CBD that CannaOne Technologies (CSE:CNNA) (OTCPK:CNONF) has its eyes on. As states and nations continue to liberalize their cannabis laws, the company can implement similar online marketplaces to facilitate sales of THC-based products.
Regarding its global growth strategy, CannaOne CEO, Mr. Riby-Williams, said:
"We remain ever vigilant in our assessment of the global cannabis market, and we continue to seek out potential acquisition targets that could offer synergies to our business to expedite and exponentially increase our future growth potential."
Wall Street Gives CNNA a BUY Rating
According to Morningstar.com's analysis, a fair value for CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF) US-listed stock is US$0.24.
This means that, at its current price, the stock is significantly undervalued. It is currently trading at a 48% discount.
But that's just scratching the surface. According to MarketBeat, CannaOne is generating a lot more excitement among actual analysts.
An analyst from Fundamental Research Corp. has created and maintains a report on CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF) that recommends a "BUY" position.
Not only that, but the analyst has set a $1.00 price target for CNNA stock. From its current price, this represents an unbelievable 525% upside.
Whether or not CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF) hits that target remains to be seen. But with considerable domestic and international growth on its horizon, it's hard to deny that the future looks bright for this well-positioned cannabis e-commerce company.
Keep watching this space for updates on CannaOne.
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