American Cannabis Company Inc (OTCMKTS:AMMJ)
American Cannabis Company Inc (OTCMKTS:AMMJ) rallied 10.87% in Wednesday’s trading session as investors reacted to new contract deals that the company has signed in pursuit of revenue opportunities in the cannabis business. The company has inked deals in Arkansas and California as it continues to expand its footprint in the multibillion industry.
Shares of American Cannabis Company Inc (OTCMKTS:AMMJ) have been on an impressive run ever since they tanked to this year’s lows of $0.36 a share in June. The stock is currently trading at the higher end of its $0.67 – $0.82 a share range and faces resistance around $1 a share.
American Cannabis Company Inc (OTCMKTS:AMMJ), along with its subsidiaries, provides consulting services and solutions to businesses in the legal cannabis business in the U.S and Canada. Some of the services that the company offers include commercial cannabis business planning, cannabis business license application, and cultivation build out oversight.
The business-to-business consulting solutions provider also owns a portfolio of branded products that include, The Satchel, The Cultivation Cube, and The High-Density Cultivation System.
The company is fresh from securing a new client in the fast growing California cannabis industry. The client is in the process of acquiring licenses needed to dispense medical cannabis in the state. American Cannabis Company Inc (OTCMKTS:AMMJ) has been tasked with the responsibility of coming up with complete operational planning activities for a retail location.
The California client has also asked American Cannabis to provide facility staffing solutions, operational workflow procedures and remote operational monitoring systems, pending the approval of the licenses.
“This state, while deeper than most states in its cannabis industry history and tenure, continues to present vast amounts of opportunity within the marketplace. As a company, ACC is actively seeking to align itself with strong clients who have an understanding of what it takes to achieve success,” said CEO, Terry Buffalo.
In addition to the new client in California, the consulting solutions provider has secured a third client in the state of Arkansas. American Cannabis Company Inc (OTCMKTS:AMMJ) will furnish the new client with a robust financial pro-forma modeling while also helping him develop a custom business plan and conceptual design work.
American Cannabis Company Inc. (OTCMKTS:AMMJ) plans to leverage the new deals to secure additional revenue streams through long-term consulting agreements.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.