Dec 17, 2019 Connor Doyle

Top Stock Watch: Meta Growth Corp. (TSXV:META) (OTCMKTS:NACNF) Receives TWO Buy Recommendations

Experts and analysts from across the cannabis industry have been endorsing Meta Growth Corp. (TSXV:META) (OTCMKTS:NACNF), formerly known as National Access Cannabis. In the last two days alone, the leading recreational cannabis retailer has been awarded a pair of “buy” recommendations based on its encouraging stock performance.

Canada's Biggest and Best Recreational Pot Stock

In a press release from October, Meta Growth announced that it had generated over $60 million in sales of retail cannabis since Canadian legalization, with a cumulative gross margin of 32%. This makes it Canada's largest publicly traded recreational cannabis retailer in terms of revenue. It's also one of the largest revenue generators in the entire cannabis industry.

In its most recent quarter, its third-quarter which ended May 31, META posted retail revenue of $16.8 million. This is an increase of 407% from the year’s first quarter.

In addition to its incredible revenue, Meta Growth Corp. (TSXV:META) (OTCMKTS:NACNF) is rapidly expanding its recreational footprint.

The company currently operates 35 licensed stores across the provinces of Alberta, Saskatchewan, and Manitoba. In 2020, it plans to have at least 95 dispensaries open across Canada. This will include 35 stores in Ontario, Canada's biggest province and most lucrative cannabis market. 

Meta Growth

As if this wasn't enough, Meta Growth plans to optimize its business model in the near future by increasing both its same-store sales and its gross margins.

It will accomplish this by diversifying its product offering—including consumable products that can now legally be retailed thanks to Cannabis 2.0—as well as by evolving its price strategy, expanding into e-commerce, and monetizing the data it gathers through its retail transactions.

Meta Growth Lands on Analysts' Radars

Earlier today, TradingView's Technical Analysis, which is based on the most popular technical indicators such as moving averages, oscillators, and pivots, awarded a "BUY" recommendation for Meta Growth Corp. (TSXV:META) (OTCMKTS:NACNF). This recommendation is being led by 12 indicators on its moving averages over the last 50 days.

Meta Growth

Investing.com's Technical Analysis echoes the TradingView sentiment. Meta Growth Corp. (TSXV:META) (OTCMKTS:NACNF) has received a "STRONG BUY" from the analysis based on 8 moving averages and all 6 technical indicators pointing to the stock's potential. 

Meta Growth

Takeaway

Meta Growth Corp. (TSXV:META) (OTCMKTS:NACNF) is taking the Canadian recreational cannabis world by storm. Technical indicators are recommending investors strongly consider investing in this relatively little-known company, meaning it likely won't be long before the stock begins to climb.

For a full report on META, visit this link.

Featured image: DepositPhotos © iqoncept

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