CannaOne Receives “STRONG BUY” Rating & Considerable Price Target

CannaOne

Wall Street analysts are sitting up and taking notice of CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF), a leading software development company in the cannabis space that supplies e-commerce solutions to cannabis markets around the world.

Over at Investing.com, CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF) has received a “STRONG BUY” recommendation. Five-hour moving averages indicate seven “buy” recommendations, while the site’s technical indicators also found seven “buy” recommendations, with just two “sell” indications.

 

Elsewhere, TradingView has offered a “BUY” rating for CannaOne. Hourly moving averages have found 10 “buy” ratings, while oscillators for the same period show three “buy” ratings and zero “sell”.

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CannaOne

 

MarketBeat is just as optimistic for CannaOne, consistently offering a “BUY” rating over the last 90 days, while also suggesting a consensus price target of $1.00, which would be an upside of 387% from its current price of $0.205.

CannaOne

CannaOne Poised to Capitalize on Booming CBD Market

In June of last year, CannaOne Technologies (CSE:CNNA) (OTCPK:CNONF) helped to launch the BWell Market in the US, which has allowed for the large scale sale of a huge selection of CBD products from a wide array of suppliers, including some of the most prominent brand names in the industry, such as Select CBD and CBD-FX. The company is also looking beyond the US market and has secured contracts with the expectation to launch similar e-commerce platforms in the UK and Mexico in the coming months.

The US CBD market is expected to generate a massive US$5 billion in sales this year alone, with the potential to grow to US$23.7 billion in just three years. That’s just the US market; globally, the CBD market could be worth a massive $2.2 trillion by 2026, with CannaOne set up to supply global e-commerce solutions to match this huge uptick in demand.

CannaOne Technologies (CSE:CNNA) (OTCPK:CNONF) most recently signed a letter of intent with SpeakEasy Cannabis Club Ltd., (CSE:EASY) to launch the first CBD e-commerce marketplace in Canada. This deal will allow the company to fulfill its mission of delivering cannabis products to consumers in as “fast and fresh a manner as possible” in what is one of the biggest cannabis markets in the world.

Given the current valuation of CannaOne Technologies Inc. (CSE:CNNA) (OTCPK:CNONF) stock, there is undoubtedly serious potential for growth as reflected by Wall Street’s bullishness and maybe now could be a good time for investors to consider adding this stock to their portfolios.

Featured image: DepositPhotos © Fotofabrika

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