NGMC Nears Completion of Medical Marijuana Facility
Good Afternoon!
Next Generation Management Corp. (OTCPINK: NGMC)
Marijuana is still on the investing table but most investors are too busy chasing baubles.
Few take aim at the companies that offer the strongest upsides. Since I know you are part of the elite traders who like to take aim I am presenting before you, NGMC.
NGMC has been building out its capacity in the medical marijuana space and has already begin work on its facility in Oregon. Back in September NGMC issued an update that many would have missed so it’s worth talking a quick look at it now.
The key words for me in the release were “medical marijuana cultivation facility in Oregon is nearing completion.” Why was this significant? Because Oregon has become one of the hottest marijuana markets in the US.
The boom in sales has even started to affect other states with Washington now citing a decline in its sales because of legalization in Oregon.
Clearly NGMC closeness in completing its facility means huge potential upside for the company.
I want you to take a look at the play now because the technical setup is ripe for action. Trading levels are predicated on very bullish and undervalued factors so if you act now you can reap the strongest gain potential.
Check out the chart…
NGMC is oversold with a 45 RSI on the daily chart – perfect setup for a bounce!
NGMC is also trading below its 50 DMA of .0026. This presents some short-term upside.
NGMC has seen a steady growth in daily volatility. This has pushed average volume to 469K and presented traders with good liquidity.
Here’s a link to the chart: http://stockcharts.com/h-sc/ui?s=NGMC
(Please conduct your own due diligence on NGMC. The highlights above represent my humble and unprofessional opinion on its gain potential)
About
NGMC (Next Generation Management Corp.) operates a medical marijuana dispensary in Hollywood, California. It provides dispensary management services to the medical marijuana industry, including site location selection, dispensary build out, staffing, staff and manager training, security services, and financial advice.
NGMC also offers a Dispensary Management Service package, a suite of industry specific software that offers seed to sale controls and regulatory agency compliance featuring the BiotrackTHC application suite.
NGMC was founded in 1980 and is based in Annandale, Virginia.
Oregon Marijuana Sales Pinch Profits From Other States
Some pot shops in Southwest Washington have seen half their revenue go away since sales in Oregon started.
"We miss a couple regulars that used to come in," said Morgan Hutchinson, owner of High End Market Place.
Tax records from the Washington State Liquor and Cannabis Board show High End lost about half its revenue in October from the month before.
New Vansterdam, which did $1.26 million in sales in September, did only $612,000 in October.
Main Street Marijuana, the first in Vancouver, had 36 percent less sales in October than the month before.
"The Washington tourism is really high right now with cannabis definitely," said Morgan McKee, who runs Shango Premium Cannabis in Portland.
Washington has a 37 percent excess tax on marijuana, in addition to the state's sales tax.
Oregon's marijuana in untaxed until Jan. 4, when a temporary 25 percent tax starts.
"The 25 percent tax will be more than people are used to currently over there," said Hutchinson. "That will level the playing field."
Part of the drop in revenue for Washington pot shops is being they've lowered their prices.
There are two main factors behind the price drop, cutting prices to stay competitive with Oregon and more supply.
Hutchinson attributes a large crop of outdoor grown cannabis from Eastern Washington that's helping to offer a lower cost option to her customers.
One huge advantage Washington shops have over Oregon's is the diversity of their menu.
"They're still coming across the bridge for those items," Hutchinson said as she held a vape pen.
Oregon medical dispensaries can only sell flower and seeds to recreational users.
The news that sent marijuana entrepreneurs rushing to Oregon:
https://www.youtube.com/watch?v=kBFCZuV7T6g
Big News Development
NextGen Management Corp. Announces It Is Nearing Completion of its Medical Marijuana Cultivation Facility in Oregon
NGMC announced that its medical marijuana cultivation facility in Oregon is nearing completion.
"We had some delays with construction and the delivery of equipment. Also we brought on a grower with an excellent track record of success in producing high quality plants," said Darryl Reed CEO of NGMC. "We are on track to begin production within the next couple of weeks."
"We researched medical marijuana opportunities in a number of states and made an effort to become involved in California. We are now convinced that Oregon is the best state to do business in and we are now 100 percent focused on succeeding in Oregon," Mr. Reed said.
"We formed the wholly-owned subsidiary Nextgen Holdings, LLC to maximize our cannabis assets in Oregon."
NGMC is ready to deliver potentially so don’t miss the chance to take your share of its upside.
