Namaste stock has been floating around $1.35 USD this past week—only making incremental gains above and below that mark. The company lept up on Tuesday, January 15th from $1.23 to $1.39 in what would be its biggest climb of the last seven sessions. Since that date, the stock has been shifting hands, but the price remains steady.
Namaste Stock
Interestingly though, Namaste Technologies Inc. (TSXV:N) (OTCQB:NXTTF) has seen its volume moving average (VMA) increase in the last week. The suggestion is that investors are beginning to trade this stock more as the company continues to be listed as a one to watch in the cannabis sector.
Despite the increasing VMA, Namaste's stock price hasn't really been affected.
About Namaste Technologies
Describing itself as a "Your Everything Cannabis Store," Vancouver-based Namaste operates the largest cannabis e-commerce platform in the world. It has over 30 websites across 20 countries and offers everything cannabis-related from vaporizers to accessories, to CBD products and more. Namaste also offers medical cannabis in the Canadian market through its licensed affiliate, CannMart.
Unique Business Model
One key consideration for investors of Namaste stock is that the company has niched itself by operating solely online.
This unique business model puts Namaste stock in an advantageous position: the company has the potential to draw revenue from every available jurisdiction where cannabis is legal. Operating online means access to a global market without the restrictions that come with brick and mortar stores. Operational costs are also greatly reduced as a result.
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But keep in mind that while the company doesn't face much competition online, this could easily change in the future as cannabis continues its evolution into the mainstream. It's a definite consideration for would-be Namaste stock investors as it could prove troublesome down the line.
Investors need to know whether or not the niche has longevity and that what's hot now can sustain itself through the thick and thin.
Network
It's not just selling cannabis products that has this company moving. Its NamasteMD.com software is Canada’s first Health Canada compliant telemedicine application. It also began using an AI algorithm called Findify, which optimizes and personalizes a consumer’s on-site buying experience.
Effectively, what Namaste offers is an all-in-one personalized internet platform where a user can investigate the products out there, consult with professionals, and buy for their specified needs. It is unique, but will consumers tire fast when cannabis becomes as 'everyday' as a pack of gum, for example?
Namaste stock is stagnating around the $1.35 mark; it seems investors aren't too sure.
Featured Image: Canva
