The cannabis market suffered a rather horrific downturn in the last few weeks. But where volatility abounds, buy opportunities emerge. Here is one company that could be considered among the undervalued stocks, if only for the potential ahead of it.
Undervalued Stocks: Integrated Cannabis Company (CSE:ICAN)
Selling on the Canadian stock exchange for approximately $1 CAD, ICAN stock could be a great opportunity for investors.
The Integrated Cannabis Company does business as iCannaCo. It focuses on the development, manufacturing, marketing, and distribution of botanically-based consumable products in Canada and internationally.
The cannabis edibles market will hit over $4 billion in less than four years. For this reason alone, ICAN stock shows great potential.
Alongside that though, it sells its flagship X-SPRAYS brand—its line of healthcare and life-enhancement nutraceutical sprays for pain relief, awareness, sleep, libido, energy, and recovery.
The stock value of this Vancouver-based company has yet to reach any serious highs. At its peak, it has hovered around the $1.78 mark. But this market is still so young, and ICAN stock could be considered greatly undervalued when we look further ahead at an industry that is estimated to be worth around $150 billion in under ten years.
For $1 now, it could be time to think about Integrated Cannabis Company.
ICAN recently announced it will begin distribution of CBD-based gummies through its contract manufacturer Titration Technologies. These gummies will contain 10mg of CBD and no THC, and will offer a great consuming alternative for the older generation, who may be already wary of cannabis products.
Pending licensing approval, iCannaCo is planning on expanding this line to include THC formulated gummies. But one step at a time!
A Pending Acquisition
Integrated Cannabis also signed an LOI this month to acquire Critical Mass Industries of Colorado. With a revenue in excess of $7 million in 2017 and over ten years of operational excellence, this acquisition is a big move for the company.
Through this acquisition, ICAN plans to conduct research and development and licensing. It will not be producing products or sales from this venture until cannabis is federally allowed in the US.
Like many cannabis shares, this undervalued stock has been showing great volatility lately; hitting lows of $.60 but then bouncing back over 30% in a day.
What do you think about Integrated Cannabis Company? Do you agree that it’s undervalued?
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