Abattis Bioceuticals Corp (CNSX:ATT) Product Line To Spur Growth

During our last review of Abattis Bioceuticals Corp (CNSX:ATT) – which is available here for the sake of first-time readers – we stated that the firm was due for a comeback based on the revenue growth prospects. During that period, at around August 2018, the company had just boomed out of a recent spike in their price as well as had significant momentum as had been characterized by the surge in the number of shares traded.Readers can review this price action in the chart below: ATTBF Daily ChartA similar mood seems to be setting currently. The firm seems to be on the path to a rally in their share price. This time, the rally is expected to ride on a recent uptick in their price. This movement goes against the bear run which has been witnessed throughout the year except for the August period. The resulting price movement from a low of $.08 to their current price of $.11, a 37.5% price movement coupled with an over 2 million share turnovers is rather impressive for the firm.Readers can further review this price action in the chart below: ATTBF Daily ChartGiven all the above, we opted to study the company and evaluate what has caused this uptick and whether this will last in the long run.

About Abattis Bioceuticals Corp

Founded back in 1997 and headquartered in Langley City, Canada, Abattis Bioceuticals Corp operates within the healthcare sector, specifically as a life sciences and biotechnology company. The firm invests in mainly cannabis technology as well as biotechnology services akin to the cannabis industry within Canada. As a result, they have invested in and successfully developed different products.The company has further acquired intellectual property rights which they utilize in the extraction and production of ingredients and compounds. The above further ensures efficiency in their processes while ensuring that their output remains at its highest quality.

Recent Developments

Key here, as for any cannabis stock is the fact that the country legalized cannabis for recreational use earlier this week. The legalization not only opens the market size for cannabis players through opening up Canadian adults but also ensures that tourists visiting Canada can enjoy the drug. This has ensured the demand for cannabis has skyrocketed to the benefit of players such as ATT.With the market size expected to approach $6.5 billion by 2020, the Canada marijuana craze keeps growing by the day. As such, it comes as no surprise that ATT celebrated the federal legalization of recreational marijuana earlier this week. In a statement from the firm, their CEO Robert Abenante stated:

“We’re thrilled to recognize this momentous day in Canadian history… Abattis Bioceuticals is optimistic about the future and plans to use our diverse interests in the cannabis space and strong financial position to take advantage of the continued growth in our industry.”

Source:The firm continues to eye a strong foothold within the sector and seeks to ensure that their name becomes associated with the highest quality, making them a brand within the sector. Besides this, there have been a number of developments within their product line as well as with their board. These are discussed later in this piece.

The Product Line Growth

The vaporizer market remains an untapped resource for most cannabis players. The growth in this specific market segment presents them with a niche, one which would see them generate extreme fortunes.The Global Outlook and Forecasts estimate that the global vapor products market will have crossed $43 billion between 2017 and 2023, rising at a compounded annual rate of 15%, an impressive rate. These forecasts have seen major players, especially within the cigarette sector venture into the segment with brands like Altria Group, Imperial Tobacco, Philip Morris International and British American Tobacco already joining in. Furthermore, courtesy of their strong footing, the firm also dominates the online space, allowing for the scalability of their services.ATT has opted to venture here with their VB-1, VB-2, CA-2 and the KB-1 vaporizers which are now available on their website. Each of this is equipped with a different battery with the battery size rising by the above-written order. Through this, the firm expects to tap into this market and further grow this through their online presence.According to their CEO:

“The cannabis vaporizer market is growing at a tremendous rate and gaining popularity worldwide. Abattis is excited to introduce our next generation vapor products to consumers and capitalize on the revolution towards the healthier consumption of extracts.”

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Board Changes

In their bid to dominate the Canadian cannabis market, the firm has opted to ring in some new faces to their board. The new individuals are well vast in their skill and will bring significant improvement to the operations and strategic decision making within the company.The two additions Kent McParland and Cedric Wilson are set to replace Cameron Paddock and Rene David who are currently leaving the same board.With the skills gained in financial accounting as well as mergers and acquisitions for Kent and Cedric respectively, the firm looks forward to a strong strategic decision-making powerhouse and the growth, especially in their financial decision making. The new board players are meant to aid the firm to ensure they achieve their strategic goals as well as meet the current goals set to ensure they boost shareholder value.

Conclusion

With the changes the firm as made to their board accompanied by the growth in their product line and in the market, ATT seems to be on the path to success. Their growth in share price, albeit small, may be a precursor to the growth similar to which was experienced back in August. As such, we remain bullish about the stock going forward.We will be updating our subscribers as soon as we know more. For the latest updates on CNSX:ATT, sign up below!Disclosure: We have no position in CNSX:ATT and have not been compensated for this article.