Aleafia Health’s (TSX:ALEF) (OTCQX:ALEAF) stock has been moving higher since Monday due to two major developments and it was Rich’s top pick for the month of May.
Aleafia Health is the leading cannabis company in Canada that is involved in almost all the possible lines of businesses related to the industry and over the past few days, the stock has been on a tear. Aleafia’s stock has jumped about 26% since May 6th.
Click the video below to watch RICH TV live coverage of the cannabis market and Aleafia news
On May 6th, it was announced that Aleafia Health had inked a joint venture to make a grand entry into the medical cannabis space in Germany, one of the biggest markets in Europe considering the high-income levels of the population and that sent the stock soaring right away.
Aleafia Health’s well known branded cannabis oil is going to be the product that is going to be distributed to pharmacies in Germany through this joint venture. However, the most important thing in this regard is that the joint venture, known as Emblem Cannabis Corp, is majority owned by Aleafia Health and that gives it more control over the company’s direction in Germany.
Aleafia Health’s growth and sudden spurt in stock price was expected, but many did not see it coming. One of the exceptions in this regard was – Rich, who had spoken about the prospect of this company through his YouTube channel some time back.
According to Rich’s YouTube channel, “Congratulations to anyone who took advantage of my pick for the month, which was Aleafia Health.”
His YouTube channel has been hugely popular among people who are looking for the best possible picks in the cannabis industry and it seems that Rich has again been on the money with regards to his latest pick.
Needless to say, this is a pick that could turn out to be a multibagger for all those who bought in before the explosion in the stock over the past few days.
Rich said, “Who else does this? Giving you picks before they explode, while they explode and after they explode. I also tell you when they are going to implode.”
The German joint venture was however not the only piece of good news for Aleafia Health. On May 9, the company had also completed its biggest cannabis oil order in history.
The company’s huge production capabilities are to thank for this outstanding development and what makes it particularly important is the fact that the client is a provincial government in Canada.
Oral sprays, cannabis oil, and other similar product were shipped to the government in question in Canada and considering the way government contracts work, it could well prove to be a long term collaboration. The total value of the sale is around $700,000 and one can expect that to rise if the product proves to be a hit.
However, it is perhaps far more important to point out that in addition to these particular order, Aleafia Health is also going to supply these products to as many as three provincial governments in Canada.
In this regard, it must be said that Rich is one of the few analysts of the cannabis who saw it coming and if anyone actually listened to what he had to say, then he would have profited handsomely from this particular pick.
However, it would also come as no surprise to investors that Rich himself owns shares in Aleagie Health and he said as much in his video. “I put my money where my mouth is. I got seven thousand shares in Aleafia Health.”
Considering the fact that it was Rich’s top pick for the month of May, he must have made a neat profit for himself and also those who follow his YouTube Channel. Perhaps it is now time to subscribe to his YouTube channel.