Hot Cannabis Stock Pick for 2020, Alcanna, Announces Sales, Gross Margin, & Year-Over-Year Increases
Our analysts continue to review the fundamentals behind Alcanna and believe that the company is one of the best cannabis stock investing opportunities for 2020.
This could be the best opportunity to invest in cannabis. Cannabis share values are nearing record lows due to COVID-19 and the selloffs caused by the virus. Cannabis stocks have been dramatically impacted by the selloffs from COVID-19 and the entirety of the markets have been affected as well. Investors who already have shares in cannabis companies should make use of this opportunity to further invest and reduce their average cost per share. Investors who are new to cannabis investing should also take notice of the current state of cannabis stocks and take advantage and invest heavily before the market recovers and this time opportunity of extremely low entry into cannabis stocks is over. Yet, solid, long-term cannabis investments can be difficult to determine as there are various cannabis company operators to consider. Our analysts have done the research and review of company fundamentals to take the difficulty out cannabis investment decisions and Alcanna Inc. (OTC: LQSIF) is one of the strongly recommended cannabis stock picks for 2020.
Alcanna Inc. (OTC: LQSIF) is a private sector retailer of alcohol in North America, one of the largest ones to boot, and is the largest in Canada when the amount of retail locations is considered. It is also a cannabis company operator under its “Nova Cannabis” brand that has 30 locations in the Alberta province and one dispensary in the province of Ontario. But why is Alcanna stock listed as one of our hot cannabis stock picks for 2020?
See Our Full Analysis of Alcanna Here
The review that our analysts have done here at Cannin resulted in the firm belief that the company is among some of the strongest cannabis stock investing opportunities for 2020. Alcanna has a strong support system with its alcohol brand to fund its expansion into cannabis that is free from any cannabis market volatility. It is the leader in respective alcohol markets with 258 liquor stores in North America and has multiple brands of liquor stores in varying Canadian provinces and Alaska.
Additionally, the company recently released impressive financial improvements with its results for the fourth quarter and year that ended on December 31st of 2019. Within the company’s financial report for full-year 2019 and Q4 2019, it reported that total sales growth for the year had increased by 21.7% when compared to 2018. Alcanna went on to report that its Q4 2019 sales had an increase of 21.5% when compared to Q4 2018 and that gross margin dollars for the year increased to $178.3 million and represented a 12.8% increase from 2018.
Cannabis developments for Q4 2019 included the opening of 12 Nova Cannabis branded retail stores and 7 more stores that opened a month after the quarter ended in January of 2020. With the stringent licensing process, requirements, and limits now relaxed by the Ontario government, the company now expects to expand into Ontario. Alcanna intends to open 10 to 20 new cannabis dispensary locations in Ontario this year and the amount of locations it opens is dependent on if it can find real estate properties that are in excellent locations.
For these reasons, we believe that an investment made in Alcanna at or close its current per-share price of $1.20 is a good cannabis stock investment opportunity for 2020. Alcanna has its retail experience proven with the expansion of its liquor store brands and also has its safety from the cannabis market’s potential for volatility guaranteed as it is the industry leader in respective alcohol markets. With the company’s ability to expand its cannabis dispensary locations under a reputable brand, it is strongly indicated to be a contender in the future cannabis market in Canada to come.
Hot Cannabis Stock Pick for 2020, Alcanna, Announces Sales, Gross Margin, & Year-Over-Year Increases
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