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AmeriCann Inc (OTCMKTS: ACAN) Is Ready To Make New Highs

AmeriCann Inc (OTCMKTS: ACAN) Is Ready To Make New Highs
Written by
Richard Sandle
Published on
April 12, 2017
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Our last review of AmeriCann, Inc. (OTCMKTS: ACAN) was on the very day that its stock price hit a new high of $5.50 a share. ACAN has been on a bull run since late October 2016 when the stock was trading at less than $1.00. The run has included four distinctive price spikes of more than $1 to $2, on very strong volume. Each price spike was immediately followed by a retracement that gave back some of the gains, but not all. The stock is currently trading at $3.94, and is in the midst of recovering from the low of the last retracement of $3.25. From a technical analysis perspective, savvy traders may see this as a good set-up for a buying opportunity when price regains a least 50 percent of the last retracement, and/or when volume begins to uptick. Each of the four aforementioned price spikes exhibited a similar pattern.

For those that are not acquainted with AmeriCann, Inc., it’s a publicly traded company that plans to develop and lease sustainable, state-of-the-art medical cannabis cultivation properties. The Company has over 1,000,000 square feet of facilities in the planning and design stages of development. The Company has also designed a proprietary line of cannabis infused products which will be branded and licensed to companies in regulated markets.In an effort to gain favorable exposure for the company, the CEO of AmeriCann, Inc. Tim Keogh recently made several high profile speaking engagements. On February 22, 2017, Mr. Keogh spoke at Boston University’s Questrom School of Business, at an event entitled: Beyond Stigma: Envisioning the Cannabis Marketplace in Massachusetts is Scheduled for Wednesday, February 22 in Boston. This event was the first formal discussion on the cannabis industry at Boston University and was sponsored by the BUzz Lab at Boston University. The discussion explored growth potential and dynamics in the Massachusetts existing medical marijuana market and the recently enacted Adult-Use program. The panel of experts addressed the state-specific regulatory, financial, and operational considerations facing entrepreneurs who see opportunity in a dynamic cluster of services that includes data analytics, supply chain logistics, management services, and e-commerce.On March 23 , 2017, AmeriCann, Inc.’s CEO, Tim Keogh, appeared as a panelist at a summit organized by Jefferies, LLC, a Global Investment Banking Firm, in San Francisco, CA. The private event consisted of 1-on-1 meetings with institutional investors and an expert panel presentation by leading public and private companies operating in the emerging cannabis industry.Mr. Keogh also spoke at the MicroCap Conference in New York City on April 4, 2017. The MicroCap Conference is an exclusive event for investors who specialize in MicroCap Companies to conduct one-on-one meetings with AmeriCann and other participating companies as well as view formal presentations.Fourth quarter financials for 2016 do show some revenues, but a bit on the light side. The balance sheet however, looks much better as a result of equity financing from last November 2016. AmeriCann, Inc. does have the cash assets it needs to execute its plan. Current market capitalization stands at $71.24 million, on 18.03 million shares outstanding as of April 10, 2017On March 17, 2017, AmeriCann retained the services of a Maryland-based government affairs firm to assist in identifying opportunities and monitoring legislative and regulatory changes in Maryland’s medical marijuana market. This could be a signal that AmeriCann may pursue medical marijuana market in the State of Maryland next.An interesting poll from Quinnipiac University was released on February 23rd, 2017 which shows that 93% of Americans support medical marijuana. With the results of the November 2016 election, over 60% of the US Population now lives in states where medical cannabis has been legalized. This is further indication that government policy regarding cannabis is on a one-way tract headed toward legalization, and there’s no stopping it. This puts companies like AmeriCann, Inc. in a very favorable position for future growth.We will be updating our subscribers as soon as we know more. For the latest updates on ACAN, sign up below!Disclosure: We have no position in ACAN and have not been compensated for this article.

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