Rich first brought Namaste Technologies (TSXV:N) (OTCQB:NXTTF) to the attention of his community back in November. Back then, shares in this cannabis e-commerce company were at $0.34, and they soon dipped to their lowest, $0.26, in December.
Now, Namaste stock is skyrocketing off of some important developments. In the last week, shares have gained 35% in value, growing from $0.31 to $0.42.
“I think these guys have found the bottom,” says Rich. “This company has a future, and they have an opportunity to be a great company. I’m going to show you why.”
Namaste Technologies Combines Cannabis and E-Commerce
Based in Toronto, Namaste offers an online platform for cannabis products, accessories, and responsible education.
The company is best known for its “everything cannabis store,” CannMart.com. CannMart provides customers with a diverse selection of hand-picked products from a multitude of federally-licensed cultivators. It’s a one-shop-stop for all things cannabis.
Namaste Technologies 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 for the e-commerce company.
“Pineapple Express is a great brand, and an amazing asset,” says Rich. “They can do same-day delivery. Anytime I talk to somebody about Pineapple Express, they’re very excited about it.”
Currently, Pineapple Express only delivers to customers in the Greater Toronto Area. Eventually, Namaste plans to extend this delivery service to all of Canada.
Namaste Technologies’ Recent News
Namaste also 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 to produce a line of cannabis-infused chocolate bars, drink mixes, and sugar.
These products will be based on an in-house recipe, made from a special cocoa bean from South America. When the line is finished, it will be available across Canada through CannMart.
Meni Morim, the CEO of Namaste Technologies, is optimistic about the opportunity this license creates, specifically as it allows Namaste to capitalize on Cannabis 2.0.
“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.”
Morim also discusses the reasoning behind the equity stake in Choklat:
“We invested in Choklat not only to maximize the significant market opportunity for cannabis-infused edibles but also because we see Brad as a true craftsman in his trade and the quality of his products speak for themselves.”
The Future for Namaste
“Namaste’s all-time high was $4.40, so we have a 1,000% upside for this company to go back to it’s high,” says Rich.
Through strategic partnerships with leading brands, Namaste Technologies is readying itself for the maturation of the cannabis market. The market for derivatives and extractions is the leading vertical in the cannabis space, and Namaste has positioned itself particularly well in that area.
What do you think? Is Namaste a good pick? Would you try some cannabis-infused chocolate products? Let us know!
If you liked this article, check out Rich’s interview with Namaste Technologies’ CTO Chad Agate.
Featured image: Canva