Marijuana penny stock Discovery Gold Corp (OTCMKTS: DCGD) Continues to Show Bullish Bias

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 Among the cannabis stocks, Discovery Gold Corp (OTCMKTS: DCGD) is continuing with a bullish bias and is showing comparatively more strength. After a slightly turbulent summer, with some controversial news reports, the company has now restructured its board of directors and added a cannabis industry expert, Vicki Christophersen, in the role of a strategic advisor. 

 Discovery Gold Corporation (OTC PINK: DCGD) is headquartered out of Seattle, Washington.  It is a rapidly expanding, publicly traded entity that has recently started emerging in the cannabis market. 

 The company has a market cap of $242.28M. Its share outstanding is 249.78M while the number of public floats is110.78M. The company has no current liabilities and is at is pre-revenue period for the time being. 

 In the last one month, Discovery Gold Corp (OTCMKTS: DCGD) has shown a growth of 19.02%. The stock has jumped 154.67% in the last 3 months. On a YTD basis, it has made a whopping gain of 22,458.14%.  In the last year, the stock has gone up by 17,536.36%. That is a very impressive growth cycle and the bullish bias seems to be continuing for this stock nonstop for the last one year. Add to that the restructuring moves and adding new talent to the company board, and we have a stock which is making headlines in the media, making waves in the markets and attracting the attention of traders and investors alike.

 The company’s new strategy advisor, Vicki Christophersen is a well-known name within the cannabis and hemp industry. She has been an active champion for the industry in Washington state for many years now. She has also been government relations professional and has served at the Washington Canada business association for the last 6 years. She brings a wealth of subject expertise and regulatory knowledge to the company’s board and her presence will definitely provide more credence to the company’s business. 

 The company also announced that another expert, this time from the venture and financing industry, Justin Costello will also be joining as a strategic advisor. His domain expertise is finance-related so he will help the company with partnerships strategic planning and future investment in the quickly expanding cannabis industry. The company clarified that it has an aggressive growth plan and so having Mr. Costello on the advisory board will help it meet the growth targets.

 In the last few weeks, the stock has been trading sideways and has been moving in a small narrow range. But it looks more like lethargy after hitting its all-time high price of more than $2 per share. While trading range-bound, the stock is still keeping above the technical indicator of 50 Day Simple Moving Average. This confirms the bullish bias in the stock. Perhaps it is just consolidating and gathering strength before making another jump towards higher levels. From the cannabis industry, Discovery Gold Corp (OTCMKTS: DCGD) stock looks quite promising and 2020 will be an interesting year to watch out for this stock. 

About Travis Garlick 1450 Articles
Been writing about and trading stocks since 2013. Manage a group of micro-cap investors on Facebook with over 15,000 members. Turned $8,500 into 185k the first year I started trading stocks and haven't looked back.