Shares of Neutra Corp (OTCMKTS:NTRR) have risen from $1 to almost $3 in a matter of days on the back of some positive press releases from the company. So far this month, NTRR has released eight press releases talking about the cannabis industry and its new line of cannabis topical products.For those not familiar with NTRR, the company was founded in 2011 and came public back in 2013 and was able to briefly capitalize on the huge rush into pot stocks. Shares at one point traded over $60. Like the rest, it crashed and burned, but is now trying to make a comeback.
Could Shares Of NTRR See $60 Again?
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The highlight of this month is NTRR's new joint venture with Vancouver-based Oceanview Health Services. Oceanview bills itself as a Canadian nutraceuticals firm focused on natural wellness products and services. The joint venture between NTRR and Oceanview is focused on providing new medicinal solutions utilizing cannabinoids. The two companies aim to develop topical creams, oils, salves, lotions and other products that have been infused with medicinal cannabis.
According to NTRR:
"Cannabis topicals are enjoying rising popularity across top cannabis markets in North America due to their discrete nature and their usefulness in treating a wide variety of health issues, including bug bites, cuts, bruises, sore muscles, sunburn, arthritis and many more. Neutra Corp. expects that its new partnership with Oceanview will result in increased industry access as the company works to expand its business internationally."
Focusing on cannabis-infused products is certainly an interesting approach and one that can lead to big rewards. This is certainly the case for companies like NTRR which is marketing to those that are disinclined to smoke medicinal marijuana and are looking for another delivery option in terms of medicinal purposes.
Considering the growth of the medical marijuana market in the United States and Canada, it's easy to see why investors got excited about NTRR again this month. Already the new joint venture has begun Phase 1 testing of its proprietary formula. By partnering with a Canadian company, NTRR also gets a foot in the door to the Canadian market where marijuana could be legalized by the new Prime Minister.
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NTRR is also targeting athletes as it believes its cannabis-infused creams can relieve muscle stiffness, soreness and fatigue. According to NTRR CEO Chris Brown:
“More and more athletes are turning to cannabis-infused topical products such as lotions, balm and sprays because they’re fast-acting, long-lasting and just plain effective. There is no better all-natural treatment for workout-related pain relief, and the market for these products is projected to explode as the regulated cannabis industry continues to spread across North America.”
NTRR certainly has a lot riding on this joint venture. Currently, the company has zero revenues and just $620 in cash. To continue funding operations, NTRR will have to engage in additional financings. While we like the potential of cannabis-infused products and the direction the company is heading in, we're looking for sales to justify the company's current $3.2 million market cap.
The good news for momentum investors is that NTRR can get going quickly. The stock market is forward looking and today's NTRR investors are banking on the company's potential with its new cannabis-infused products. While we wouldn't continue chasing NTRR at these levels, we're certainly watching the market for a pullback and an update on NTRR's business. We will be updating Insider Financial with the latest on NTRR so make sure you are subscribed below and know the latest on NTRR.
Disclosure: We own no shares of NTRR and have not been compensated for this article.
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