On today’s TSX Breakouts report, there are 23 stocks on the positive breakouts list (stocks with positive price momentum), and 15 securities are on the negative breakouts list (stocks with negative price momentum).
Discussed today is a company that appears on the positive breakouts list. Of all the stocks on the positive breakouts list, this one has the highest expected one-year price return – that stock is a cannabis producer. The average target price suggests that the share price may rise 72 per cent over the next year. The company is covered by six analysts, of which all six analysts have buy recommendations. The security highlighted today is Hydropothecary Corp. (THCX-X).
A brief outline is provided below that may serve as a springboard for further fundamental research.
Gatineau, Que.-based Hydropothecary is a licensed marijuana producer.
The company’s current production capacity is approximately 3,600 kilograms of cannabis. However, this capacity will soon expand to approximately 25,000 kilograms with its new 250,000 square foot greenhouse facility expected to be completed this month. In addition, the company is constructing a 1-million square foot greenhouse, which is expected to be completed in December. Once completed, the company’s annual cannabis production capacity will increase to approximately 108,000 kilograms.