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Fire & Flower: Cannabis Stock Pick for 2020

Fire & Flower: Cannabis Stock Pick for 2020Although cannabis stocks have been in a bear market for over a year, we’re starting to see the beginnings of a cannabis stock rally. It appears as though cannabis stock traders are returning to the sector to take advantage of rock bottom prices as cannabis stocks continue to stabilize. Why is Fire & Flower our cannabis stock pick for 2020?

Cannabis companies like Green Thumb Industries (GTII) and Aurora Cannabis (ACB) continue to report record revenues while helping to breathe life back into the once-booming cannabis sector. While these popular cannabis stocks garner all the attention, there are plenty of lesser-known cannabis stocks such as Fire & Flower which have strong growth trajectories. This is why Fire & Flower is one of our cannabis stock picks for 2020.

Fire & Flower: Why is this a Strong Cannabis Stock for 2020?

Fire & Flower: Cannabis Stock Pick for 2020

Fire & Flower (OTC: FFLWF) (TSX: FAF) is a leading adult-use retailer of cannabis, focused on expanding its market share in Canada with acquisitions and strategic partnerships. Fire & Flower is acquiring new consumers by educating them about cannabis through their Hifyre digital platform.

Fire & Flower is aiming to help its customers through new payment mechanisms and distribution strategies to grow its revenue base. Fire & Flower is successfully adjusting to the COVID-19 pandemic impact by deploying online payments, home delivery, and curbside pickup options.

Trevor Fencott, CEO of Fire & Flower, has experience in leading and managing cannabis production and education companies. Matthew Hollingshead, President of Hifyre, has substantial experience leading cannabis digital companies and investing in the cannabis sector.

Fire & Flower raised $25.5 million on June 26, 2019, after closing a bought deal in the private placement. On August 7, 2019, Fire & Flower raised an additional $24.1 million from Strategic Investment which significantly improved the liquidity position. This cash position may prove to be incredibly valuable and will help the company weather the uncertainty of the COVID-19 pandemic.

Fire & Flower: Why Will Its Stock Price Improve Over the Long Term?

Best Hemp Stocks 2020

Will its stock price improve in the long term? Likely.

By March 31, 2019, Fire & Flower’s cash, cash equivalents, and short-term investments were $42.9 million which is enough to finance operations, manage working capital and opening new stores in 2020.

Fire & Flower’s return on total asset (ROA) was 5.9% which implies that it made a loss of $5.9 on every $100 spent on asset. This is comparatively better when compared to the industry average and will continue to improve as they open additional stores.

Fire & Flower’s revenue experienced double-digit growth in the last three quarters of 2019 and declared a positive net income of $10,2 million in the third quarter of 2019. Fire & Flower declared their first positive EPS of 0.05 in the third quarter of 2019 which is the result of their focus on solid financial performance. Watch for more good things to come from this cannabis company.

Fire & Flower: Cannabis Stock Pick for 2020

About Cannin: Your Marijuana Investment Experts

About Cannin: Your Marijuana Investment ExpertsCannin is your trusted resource for information about marijuana and hemp stock investment opportunities. Our global team of experts evaluates all emerging marijuana and hemp stock investing opportunities. We aggregate hundreds of hours of research and provide tips on the best marijuana and hemp stock investments for 2020. We provide the latest marijuana investment and hemp investment news and analysis. 

Use Cannin as your resource for breaking cannabis and hemp investing news, featured cannabis and hemp company analysis, comprehensive cannabis and hemp stock reports, or get your free trial now and use our Smart Stock Algorithm to take the guesswork out of profiting from the cannabis industry. Is it too late to invest in marijuana or hemp stocks? No! This is the perfect time to invest.

Market analysts expect the marijuana and hemp industry will have an annual value exceeding $75 Billion in the next decade. The time to invest in marijuana and hemp stocks is now. Are you looking to buy stock in hemp companies or marijuana companies for 2020? Interested in emerging penny hemp stock companies? Looking for the best Canadian marijuana stocks to invest in? We can help.

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