iAnthus Capital Holdings (ITHUF)
iAnthus Capital Holding is made up of an experienced team, within the U.S cannabis market, where they are able to meet the key components to a company’s success; access to capital and the ability to grow through acquisition. iAnthus’ mission is to create the most valuable network of cannabis operation and distribution on a national scale.
iAnthus Capital Holdings is current building a significant competitive advantage through best-in-class operations. They are rapidly progressing its long term plan to install over a half a million square feet cultivation at their florida campus. iAnthus has a brand called Melting Point Extracts or MPX, which is their award winning cannabis brand devoted to providing the cleanest and most effective products possible.
We have this stock on our watchlist because we see great potential in the company as well as performance of the stock. We see support, the green line, as a buying opportunity at $2.50. Then, with good news and increased volume, we see a target 1, the red line, at $3.50. With continued momentum, we see the stock having a possibility to hit previous highs at $6.00, which is at the yellow line.
Cresco Labs (CRLBF)
Cresco Labs is a leader in building the most trusted and fastest growing cannabis company in the world. They pride themselves on careful cultivation to consistent distribution and making sure they have a product available for all types of consumers.
CRLBF posted strong Q2 earnings as they are a MSO, which means they have the licenses to operate and enter new states. Revenues increased over 40% from last quarter to $29.9 million. Cresco Labs has two deals in process with the closing of Origin House (ORHOF) and VidaCann, these deals were expected to close in June, but are now expected to close this year. CRLBF also has no debt, which means they don’t need the deals to survive.
This has been a major piece of news dragging down the stock a bit, but it is a good time to get in. We see a good time to enter the stock at $8.40, the green line. We have a target 1, the red line, at $8.75. You can see that when there is increased volume, the stock reacts. With increased volume, and continued good news with these deals, we see the stock reaching previous highs at $9.40.
Village Farms (VFF)
Village Farms is one of the largest producers of premium quality greenhouse vegetables in North America. They also operate an industry leading sales, distribution, and marketing organization. Its strategy is focused on forging strong customer relationship by servicing retailers on a year-round basis and maintaining the highest standards of food safety.
Village Farms is perfect for the $10 trade trick. In the past VFF has reached over $18. Now that the stock is approaching $10, we see support at $9 a share, the green line. Since the stock has been over $10 in the past, the $10 rule says that it will regain what its lost, and sometimes even better. We have a target 1, the red line, at $14, and a target 2, the yellow line, at $18.