Namaste Technologies Inc (OTCMKTS:NXTTF) is one of the paradigm-shifting cannabis stocks that is still nascent in its growth and affordable for investors. With the industry on the cusp of consolidation from big businesses, NXTTF is stringing together solid trading days – the stock is up more than 80% over the last three months – and could be soon in for more bullish days ahead.
NXTTF just inked a partnership with Tilray, which adds to its list of partners – one of which is Aurora Cannabis, and investors have responded quite favorably since the announcement gaining about 40% since the news hit the wire. Sean Dollinger, President and CEO of NXTTF comments: “We’re very proud to have signed a Purchase Agreement with Tilray, who we believe are one of Canada’s leading Licensed Producers. We have already had customers from NamasteMD ordering products through Tilray and the response has been overwhelmingly positive. As such, we are looking forward to offering Tilray’s high-quality products in our platform.
Namaste Technologies Inc (OTCMKTS:NXTTF) promulgates itself an emerging leader in vaporizer and accessories space. Namaste has 30 e-commerce retail stores in 20 countries, offers the largest range of brand name vaporizers products on the market and is actively manufacturing and launching multiple unique proprietary products for retail and wholesale distribution.
NXTTF is currently focused on expanding its product offering, acquisitions, and strategic partnerships, and entering new markets globally.
According to company materials, “Namaste Technologies is Your Everything Cannabis Store. Namaste operates the largest global cannabis e-commerce platform with over 30 websites in 20+ countries under various brands. Namaste’s product offering through its subsidiaries includes vaporizers, glassware, accessories, CBD products, and the company will soon be selling medical cannabis in the Canadian market, subject to approval by Health Canada. Namaste has developed and acquired innovative technology platforms including NamasteMD.com, Canada’s first Health Canada compliant telemedicine application, and in May 2018 the Company acquired a leading e-commerce AI and Machine Learning Company, Findify AB. Findify uses artificial intelligence algorithms to optimize and personalize a consumer’s on-site buying experience. Namaste is focused on leveraging its cutting-edge technology to enhance the user experience throughout its platforms. Namaste will continue to develop and acquire innovative technologies which will provide value to the Company and to its shareholders as well as to the broader cannabis market.”
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The news with Tilray is only part of the goods news recently for NXTTF. The company is about to launch its CannMart.com, cannabis e-commerce platform. The site looks to be a shoo-in for its sales license and would be the first non-cultivator with a sales license, which would be a monumental event in the Canadian industry.
“The official launch of CannMart.com coupled with receipt of our “sales only” license will mark a new chapter in our incredible journey of becoming the world’s first fully-integrated online cannabis marketplace, one driven by cutting edge AI and machine learning technology, as well as revolutionary facial recognition and age identification protocols,” Dollinger added. “I am very optimistic about where Namaste is currently positioned in the cannabis space and believe that the Company will now receive the respect it deserves from its peers, as it has established itself as a leader in the space.”
Namaste Technologies Inc (OTCMKTS:NXTTF) has a market cap of $650M and a float of 253.13M. NXTTF is truly gaining momentum and has a unique company culture with investors committed to the vision. This is one stock to watch in the space that has big aspirations. Sign-up for continuing coverage on shares of $NXTTF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $NXTTF, either long or short, and we have not been compensated for this article.