There’s cannabis stocks, and then there’s ultra-speculative cannabis stocks. Indeed, it appears investors in Cannonau (OTCMKTS:CNNC) and CNNC stock find themselves in the latter department.
There has been a high-profile “green rush” of late. And this green rush is only one of many speculative frenzies in the market. However, it’s clear that many small cannabis companies are popping up looking to take advantage of this sentiment.
Cannonau, a CBD player, is one of many small firms looking to make a name for itself in a growing — and crowded — market.
Given the amount of interest in this space, let’s take a look at what Cannonau does and why investors are jumping onto CNNC stock today. Currently, investors in CNNC stock are seeing gains of approximately 9%, at the time of writing.
What Investors Need to Know About CNNC Stock
- Cannonau aims to “to produce high-quality, pure, and 100% natural cannabidiol (CBD) products.”
- The company’s CBD products, including full-spectrum CBD oil, are sourced from a licensed organic Colorado farm.
- Currently, CNNC stock is still in early stages of commercialization. The company reported TTM sales of under $2,000 for the past year.
- Despite this, Cannonau is valued at a market capitalization of nearly $800 million.
- Today, the company announced the addition of a new legal advisor to its executive team.
- Mr. Fruqan Mouzon is being brought on to advise on “prospective mergers, acquisitions, joint ventures and other opportunities” the company will be pursuing.
- Accordingly, it appears the market is pricing in some sort of announcement with this stock.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.
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