All December, the markets have been reacting to big news like the Chinese trade deal and the Trump impeachment. But here at Microsmallcap, we’ve been advising readers about a select handful of stocks positioned for growth. Several of our top stocks to watch this week have been seeing considerable returns, and even one that hasn’t is likely to explode soon.
1. Meta Growth (TSXV:META) (OTCPK:NACNF)
Let’s start by looking at Meta Growth (TSXV:META) (OTCPK:NACNF). Formerly known as National Access Cannabis, the Canadian company announced in October that it generated more than $60 million in sales of recreational cannabis since legalization. This makes it Canada’s largest publicly traded recreational cannabis retailer in terms of revenue.
For its third quarter, which ended May 31, Meta posted retail revenue of $16.8 million. This represents remarkable growth of 407% from the year’s first quarter. On top of this, Meta Growth (TSXV:META) (OTCPK:NACNF) is also rapidly expanding its recreational footprint.
The company currently operates 35 licensed stores across the provinces of Alberta, Saskatchewan, and Manitoba. In 2020, it plans to have at least 95 dispensaries open all across Canada. This will include 35 stores in Ontario, Canada’s biggest province and its most lucrative cannabis market.
Since last week, META shares have risen just over 34%, from $0.23 to $0.315, and hitting a high of $0.335. Technical analyses from TradingView and Investing.com returned “BUY” and “STRONG BUY” for Meta Growth (TSXV:META) (OTCPK:NACNF), respectively, indicating the stock’s potential for even further value.
2. Else Nutrition (TSXV:BABY) (OTCPK:BABYF)
Else Nutrition Holdings Inc. (TSXV:BABY) (OTCPK:BABYF) first arrived on analysts’ radars at the end of October. The company produces a 100% plant-based, non-soy alternative to dairy-based baby formulas that is the first of its kind on the market.
Made from almonds and buckwheat, the formula is free of GMOs, pesticides, hormones, antibiotics, gluten, and phytoestrogens, and has no externally added macro-nutrients. This makes it a healthier and more natural option for toddlers (12-36 months).
According to Hexa Research, the global market for formula will exceed $90 billion USD by 2025 with a CAGR of 9.35%. More specifically, the global organic baby food market is projected to grow from $5.95 billion last year to $11 billion by 2024, with a CAGR of 11%.
As research shows that dairy and soy allergens are incredibly common among children under the age of five, Else Nutrition Holdings’ (TSXV:BABY) (OTCPK:BABYF) has unparalleled access to a sizable share of the market.
BABY shares are trading 33% higher this week than they were last week, growing from $0.33 to $0.44. TradingView has awarded Else Nutrition Holdings Inc. (TSXV:BABY) (OTCPK:BABYF) a “BUY” recommendation based on 14 positive indicators. Investing.com has yet to initiate coverage of the company but is sure to begin when its products begin retailing in the United States in Q2 2020.
3. Enthusiast Gaming (TSXV:EGLX) (OTCQB:ENGMF)
Enthusiast Gaming Holdings (TSXV:EGLX) (OTCQB:ENGMF) owns and operates a network of gaming media websites and channels that attracts more than 200 million monthly users. This makes it the largest gaming network in the English-speaking world. It also receives more than 30 billion ad requests and over 1 billion page views on a monthly basis.
The company’s digital media platform includes over 100 websites such as Destructoid, The Escapist, Nintendo Enthusiast, and The Sims Resource. It also works with a variety of video game personalities and influencers through its 900+ YouTube channels.
Enthusiast Gaming Holdings (TSXV:EGLX) (OTCQB:ENGMF) also holds an enviable position in the esports sector. Through its recent merger, the company manages seven professional esports teams, including the Vancouver Titans Overwatch team and the Seattle-based Call of Duty team.
Finally, it runs the largest gaming expo in Canada, Enthusiast Gaming Live Expo, or EGLX, which brings more than 25,000 visitors, 80 games, and over 100 exhibitors together.
In the last five days, EGLX stock rose from $1.62 to $1.77, and hitting a high of $1.84, which represents a 13.58% increase in value. Yahoo Finance has given Enthusiast Gaming Holdings (TSXV:EGLX) (OTCQB:ENGMF) a 1-year price target of $3.67, which represents a 107% upside from these prices.
4. BevCanna (CSE:BEV) (OTCPK:BVNNF)
BevCanna Enterprises Inc. (CSE:BEV) (OTCPK:BVNNF) shares are up 6.7% today, and could be in for some serious growth as the analysts and investors become increasingly aware of the potential that BevCanna offers.
The BC-based develops and manufactures cannabinoid-infused beverages and consumer products for both in-house brands and white label clients.
The company entered into a letter of intent to partner with Capna Intellectual Inc., based in Los Angeles. BevCanna will manufacture that company’s popular vape brand, Bloom, as well as its concentrates and extracts.
Then, on December 19, BevCanna Enterprises Inc. (CSE:BEV) (OTCPK:BVNNF) announced that it is acquiring the right, title, and interest to DeeperGreen technology.
DeeperGreen is the proprietary water-soluble cannabinoid powder ingredient developed by Greener Frontiers. It converts extracted cannabis into a fast-acting, tasteless, odorless, water-soluble powdered ingredient. It’s also a proven stable ingredient that, when tested with cannabinoids, consistently delivers target concentrations within one batch and from batch-to-batch.
Keep watching this space for more top stocks to watch in December and in 2020. Also be sure to keep your eyes on all four of these exciting companies.
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