$PVSP Smoking Hot Cannabis Play w/ Impending CatalystPervasip Corp. (OTC: PVSP) is focused on developing and investing in companies in high value emerging markets – with a particular focus on operations in the growing cannabis industry. After showing impressive financial performance in Q1, PVSP stock jumped into the spotlight and has seen a 106% increase over the last ten days. Now that federal decriminalization of cannabis has been passed by the House, PVSP stock could be one to watch in 2022 thanks to its position in Washington’s thriving cannabis market.
Fundamental Analysis
Through its subsidiary Artizen, PVSP owns an impressive portfolio of in-demand cannabis products. Considered to be the 9th largest cannabis consumer brand in North America, Artizen is well-known for delivering quality cannabis products to its wide customer base in Washington. Given that Artizen is one of Washington’s original cannabis brands, the subsidiary’s products are the fourth best-selling in Washington and its flower products are the all-time, third best-selling in the state.
Considering the quality and popularity of Artizen’s products, the subsidiary generated over $69 million in sales by distributing its products through more than 200 retailers – leading to over $200 million in retail value since the company started operating. As more and more states decriminalize cannabis, Artizen intends to expand its business to include the major cannabis markets of California and Oregon. If the subsidiary delivers on these plans, PVSP could be well-positioned to significantly increase its revenues.
In light of Artizen’s success in Washington, the company received the Washington State 2022 Dockside Cannabis Cup for its Dutchberry strain. This award and Artizen’s continual growth across the state has clearly cemented Artizen’s position as a leader in Washington’s cannabis industry. But this will also help establish Artizen in new markets as well. With plans to roll out its products in a number of other states, this award will help introduce Artizen to new markets despite being a newcomer. With this in mind, many investors are watching PVSP stock expecting it to reflect the company’s growth as it expands.
But investors are watching closely for the details of PVSP’s strategic partnership which the company hinted at on April 20th. According to the company, it is in the final phase of closing the deal and its management believes the partnership will add “an enormous amount of revenue to our bottom line”. With the promise of more details coming soon, its not surprise that PVSP stock shot up over 80% on the news.
Technical Analysis
Currently trading at $.0033, PVSP shows a resistance at .0037 and a support at .0029 with a stronger support level at .0018. PVSP shot up roughly 88% after announcing its potential strategic partnership. The MACD is currently bearish but approaching a crossover and the RSI is climbing up from 54. Meanwhile accumulation is showing an uptick after a drop with profit-taking.
PVSP has an AS of 8.97 billion and an OS of 5.15 leaving a float of roughly 3.8 billion. The stock appears prepped to continue its run which could be fueled by interest in its strategic partnership which its expected to significantly bolster its bottom line. With a number of catalysts lined up, bullish investors could take a starter position or wait for it to drop to its support. Considering that PVSP typically trades between .0029 and .0037, its recent dip to .0016 was unexpected and the stock could break through its resistance with positive news regarding its strategic partnership.
PVSP Stock Forecast
Utilizing its subsidiaries, PVSP has been successful in positioning itself as a leader in Washington’s cannabis market. Given that the company has ongoing plans to expand down the West Coast and into Arizona, PVSP’s quality products and expansion could help the company realize a net profit by EOY.
With this in mind, PVSP’s management has big future plans for the company which could lead PVSP stock to soar. By 2023, PVSP intends to complete its audits to uplist to the OTCQB. Following this uplist, the company aims to move to the OTCQX before uplisting to the NASDAQ. In this way, long-term investors willing to take the risk could see PVSP stock reach $2 or $3. Whereas, in the near-term, PVSP is in the final stages of closing a major partnership which the company expects to add significant revenues to its operations. In light of this, PVSP stock is one to watch for more news.
