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Blueberries Medical Corp (CNSX:BBM) Turns Bullish

Blueberries Medical Corp (CNSX:BBM) Turns Bullish
Written by
Jim Bloom
Published on
March 25, 2019
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Blueberries Medical Corp (CNSX:BBM) has turned bullish. A 60% plus spike in under a month, underscores the fact that bulls are in firm control, as the stock continues to register higher highs. Buying dips appear to be the best play, given the strength of the upward momentum.

Share Price Analysis

The spike follows the confirmation of key appointments as part of management changes. The stock is also flying high on the company completing listing in the Frankfurt stock exchange as part of its European expansion drive.Entrance into the Colombian Cannabis market is another development that continues to trigger renewed investor interest in the stock, consequently fuelling the upward momentum. The company acquiring 37 acres of prime agricultural land also affirm its push for market share in Colombia’s cannabis marketplace.The stock has since taken a flight on strengthening investors’ confidence about the company’s long-term prospects. With the stock having hit a buy zone, pullbacks should act as an exciting entrance position from where the stock looks set to continue powering high. BBRRF Daily ChartAfter the recent spike, immediate support on sell-offs is seen at the $0.55 level from where the stock looks set to continue edging higher. A breach of the support level could leave the stock susceptible to further drops probably back to the $0.40 level. However, as it stands Blueberries Medical looks set to continue climbing the ladder.

About Blueberries Medical

Blueberries Medical is a Colombian-based cannabis licensed producer. Through its subsidiaries, the company is engaged in the production of premium quality cannabis through operations in Bogota Savanna in Central Colombia. The company boasts of expertise in areas of genetics, agriculture, production and distribution of cannabis on the global scene.

Why is Blueberries Medical Skyrocketing?

Blueberries Medical has taken a flight following the confirmation that the stock is now listed in the Frankfurt Stock exchange. Listing in the exchange marks an important milestone for the company’s global strategy that targets push for export in the European cannabis market.In addition to expanding its cannabis distribution operation in Europe, Blueberries Medical expect listing in Germany to broaden its shareholder base. The company is targeting more investors in Europe as part of its global expansion push.The company has since followed Germany listing with crucial appointments as it continues to revitalize its prospects in the cannabis sector. Blueberries Medical has confirmed the appointment of Dr. Patricio Stocker as the new Chief Executive Officer. He joins the company with vast management experience having led the successful development of a number of companies including PharmaCielo.Christian Toro is to take over as the executive chair of the board. The company has also confirmed the appointment of former Colombian Minister Fabio Valencia Cossio to the board.

Colombia Expansion

The appointments come at a time when Blueberries Medical is aggressively pushing for market share in the Colombian cannabis marketplace. In February, the company entered into a letter of intent with Harmony and Life S.A.S, which operates El Manantial medical centers for the formation of a joint venture.The joint venture opens the door for the two to focus on the development and commercialization of Blueberries Medical’s products through El Manantial patient phase. The patient base should act as a direct distribution base.El Manantial is one of the fastest growing cannabis networks with over 7,000 patients and poised to grow to over 50,000 patients over the next three years.

“Our joint venture with El Manantial provides an outstanding opportunity for Blueberries to develop medical products and acquire patients in the Colombian market. El Manantial is a respected leader in Colombia, and their focus on equitable access to medicine and patient care aligns with our goal of providing treatment to a broad spectrum of patients,” stated Mr. Toro.

The acquisition of a 37-acre agricultural property in the Bogota Savanah area also paves the way for the company to enhance its cannabis production capacity in the country. The company intends to build a purpose-built production facility as it seeks to come up with unique cannabis products for the Colombian and international markets.

Bottom line

Blueberries Medical flying start to the year is well supported by developments that affirm the company’s growth metrics. The stock is likely to continue flying higher as investors take note of the latest developments, key among them being expansion into Europe and Colombia that underscore long-term prospectsWe will be updating our subscribers as soon as we know more. For the latest updates on CNSX:BBM, sign up below!Disclosure: We have no position in CNSX:BBM and have not been compensated for this article.

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