Integrated Cannabis (CSE: ICAN)/(OTC: ICNAF) closed out the week of September 20th by continuing its 3-day momentum and finishing strong with an 18% gain. Earlier in the week, we issued a technical update on what we thought to be early signs of strength in ICAN and pointed out what appeared to be a new support level.
Read That Full Update Here: I-Can See A Pattern Emerging
We brought to your attention how traders and investors tend to look for stocks showing such signs ahead of a potential market rally as well as highlighting an exodus the 3 “bluechips” Aurora (ACB), Canopy Growth (CGC), Cronos (CRON) names, all of which had their worst day of the week Friday.
It’s clear that ICAN is bucking the trend having gained +72% over the last 3 months while the cannabis sector as a whole has struggled. But the question is why? And we believe the answer could lie with the Company’s acquisition of Ganja Gold.
Pre-Rolled is the Way to Go
Ganja Gold is the top infused pre-roll brand in California, through July 2019, with roughly $3,300,000 USD in sales to date for fiscal year 2019. According to BDS Analytics, “This past July, consumers in California spent $25 million on Pre-Rolled products, a 66% increase compared to July 2018. While sales of Flower have ceded share to other categories, Pre-Rolled products are another matter. This past July, revenues from Pre-rolled products contributed 9% towards overall revenue in California.”
Furthermore, the number 1 and number 3 selling SKUs in the infused pre-roll category were Ganja Gold products – which are currently available in over 250 dispensaries all over California.
“The pre-roll and specifically pre-roll market has seen tremendous growth in the last year, and of late due to many factors, Seth Wiles, president of Integrated Cannabis. Wiles also went on to say, “We will leverage our standing as the best-selling infused pre-roll brand in the world’s largest cannabis market (California) to launch in other key states this Fall.”
Timing is Everything
The key sentence I want you to focus on from Mr. Miles statement is, “We will leverage our standing as the best-selling infused pre-roll brand in the world’s largest cannabis market (California) to launch in other key states this Fall.”
Because as we have previously discussed, the fall season has historically been a strong time of year for the cannabis sector with several market rallies over the years. So, if ICAN is successful in launching in other key states outside of California during a time when the cannabis sector could start heating up, it could be perfect timing.
Perhaps this is why we are seeing investors flock towards Canadian offerings positioned within the United States. ICAN, clearly being the beneficiary had its highest volume day it’s had in the last 6 months on Friday, September 20th. And with this new support level firmly in place right now, we could be looking at a strong fall showing ICAN. Because if history repeats itself and we see another sector rally, ICAN is already showing early signs of strength. This is definitely something you are going to want to keep a very close eye on.
Disclaimer: Pursuant to an agreement between an affiliate of MAPH Enterprises, LLC (owners of MarijuanaStocks.com), Midam Ventures LLC and Integrated Cannabis Company (ICNAF) (ICAN), Midam is being paid $50,000 a month for coverage on Integrated Cannabis Company (ICNAF) (ICAN), for a period from August 19, 2019 to February 19, 2020. Midam Ventures LLC will also receive 150,000 common restricted shares of Integrated Cannabis Company (ICNAF) (ICAN) upfront and another 150,000 common restricted shares in 90 days. We may buy or sell additional shares of Integrated Cannabis Company (ICNAF) (ICAN) in the open market at any time, including before, during or after the Website and Information, to provide public dissemination of favorable Information about Integrated Cannabis Company (ICNAF) (ICAN). Click Here For Full Disclaimer