Mym Nutraceuticals (MYMMF) is an over the counter penny stock. These type of stocks are inherently riskier than traditional stocks traded over exchanges. However, this one deserve serious consideration. With the recent sell off in the sector, the buy conditions couldn’t be better.
Canadian recreational pot passed legislation in October and Canada is about to be open for business. The cannabis sector is poised for a comeback after a year long slump. Prices are near lows and the time to speculate might be now.
MYMMF has a very interesting project worthy of your attention and that is The Wheedon Project. Located in Quebec, this 1.5m square foot facility will be one of the largest greenhouses in Canada. The project owns 365 acres of land and plans to include a cannabis university with a cannabis museum. They were approved by the city of Wheedon and await licensing from Heath Canada. Their website is updated often with new construction photos and they predict project completion in 2020. As a test run, 30,000 sf of greenhouse will be dedicated to producing sometime in 2019. More information can be found here MYM Nutraceuticals
Penny stocks are notorious for having little or no use for technical analysis, the volume is thin, most price jumps rely on news, and they are easily manipulated. That being said, the 3 month chart below looks like a textbook double bottom. If the second pivot point is complete, a rebound of prices should be around the corner.
Another reason I think this stock is a decent play is they reported 1.9m in cash according to Google Financials. That seems healthy for a young start up with 20 employees. With two greenhouse facilities coming online next year and other cannabis related revenue streams in the works, perhaps it’s time to open a position.
In 2018, weed stocks took a beating. 2019 might be the year they start recovering. If you are looking for a speculative stock in a speculative sector, MYMMF will do the trick. Just be careful. You wouldn’t want to see your investment go up in smoke.