Namaste Technologies Receives STRONG BUY Rating and Announces Health Canada License

Namaste Technologies (TSXV:N) (OTCQB:NXTTF) has had quite the January so far.

In addition to receiving some major news for one of its partners, the Toronto-based cannabis e-commerce company's stock has been skyrocketing over the last few weeks. Since December 30, Namaste shares have gained 50% value on the TSXV, rising from $0.28 to $0.42.

Namaste Technologies

This move up the market has drawn the attention of industry analysts. In particular, the technical analysis for TradingView had returned a "BUY" recommendation for Namaste Technologies (TSXV:N) (OTCQB:NXTTF).

The technical analysis is based on some of the most popular technical indicators: moving averages, oscillators and pivots. In particular, the moving averages—which indicate Namaste's recent performance—show an impressive "STRONG BUY" rating.

On top of that, the technical analysis for Investing.com has awarded Namaste Technologies (TSXV:N) (OTCQB:NXTTF) a "STRONG BUY" rating. This rating is led by 9 positive technical indicators and 12 positive moving averages, with absolutely no negative indicators or averages.

Namaste Technologies

At this rate, Namaste Technologies (TSXV:N) (OTCQB:NXTTF) simply cannot be denied. While its impressive run began near the start of the month, the company's recent news has certainly cemented Namaste as a stock worth watching.

Namaste Technologies Announces Health Canada Processing License For Choklat

Namaste currently holds a 49% equity position in Choklat Inc., an Alberta-based craft chocolate manufacturer and chocolatier.

On January 13, Choklat received a processing license from Health Canada. The license allows the company to produce a line of cannabis-infused chocolate bars, drink mixes, and sugar.

Meni Morim, the CEO of Namaste Technologies, said of the new product line:

“We believe there is pent up demand for cannabis-infused edible products on a national scale. Choklat is one of the first food processors in Canada to receive its processing license from Health Canada and we expect their products to be on shelves in March, allowing for the Health Canada notice period.”

So far, this news has provided an extra 10% bump in value for shares of Namaste Technologies (TSXV:N) (OTCQB:NXTTF).

Namaste's Leading E-Commerce & Delivery Solutions

The company's flagship offering is CannMart.com. Known as an “everything cannabis store”, CannMart provides customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators.

Namaste also owns a 49% stake in Pineapple Express, a premier delivery company. Pineapple Express brings cannabis directly to the consumer’s door, making it a valuable asset and a smart addition to Namaste's portfolio.

As Legalization 2.0 kicks into high gear, Namaste Technologies (TSXV:N) (OTCQB:NXTTF) has positioned itself excellently to deliver innovative products and solutions to the cannabis space. Wall Street has already begun taking notice of this company, as have a few fortunate investors. 

There's no telling where Namaste goes from here, but keep watching this space for more updates.

Featured image: Canva

Please See Disclaimer

If You Liked This Article Click To Share


Disclosure:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on my research and understanding of the sector.

2) The Article was issued on behalf of a third party, Namaste Technologies Inc. Market Jar Media Inc. has or expects to receive one hundred and twenty-eight thousand, six hundred Canadian dollars from Namaste Technologies Inc.’s agency of record Native Ads Inc. for 17 days (13 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here.. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PotStockNews.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PotStockNews.com.

5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article.