While the industry is still debating, whether cannabis stocks are going up, down or perhaps see some selling; Novagant Corp (OTCMKTS: NVGT) stock seems to be running on rocket fuel; going higher and higher.
The stock has been putting up a very impressive performance for the last year. In the last 5 days, the stock has jumped 14.55%. In the last one month, the stock has made a staggering growth of 3,718.18% 3,718.18%! It has put up an equally impressive performance in the last three months, by zooming up 2,763.64%. On a YTD basis, the stock has achieved head-spinning growth of 4,259.86%, and in the last one year, the NVGT stock has given its investors a whopping return of 4,746.15%.
With such great performance, this cannabis stock is in our ‘watch-out in-2020’ list.
Novagant Corp is a company that is still in the development stage. The company plans to function as a holding company by focusing on the medical cannabis industry. It is involved in the manufacturing and trading of related equipment. Some of its products are Alkanna light, GoldenCBD capsules, and Glavape medical cannabis vaporizer.
The sector of cannabis and marijuana stocks is growing, and investors are mostly looking at these stocks for long term investments. For the time being, these stocks are fair value but some of these stocks like NVGT are growing rapidly, and investors are very much interested in making this stock a part of their portfolios.
Looking at the valuation numbers of this company, we find it has P/E Current of -4.29. The stock’s P/E Ratio (with extraordinary items) stands at -1.54. Its Enterprise Value to EBITDA is -12.58, and its Total Debt to Enterprise Value is 0.0 1. The company’s Return on Assets stands at -312.03. Its Total Debt to Total Assets is 6,887.76.
The company has a market cap of 7.72M. And its Beta (3Y Monthly) is 7.30.
As the US economy starts growing stronger, and central banks start cutting rates, investor confidence is returning and the cannabis stocks are a good bet for long term investments. The US stock markets have also been making new highs, and the US economy has been throwing better numbers every week. This is the right time for thinking about long term Investments as the headwinds have started retreating and tailwinds are getting stronger for equities. The medical cannabis industry is growing rapidly and getting legal support in states. Overall, the conditions are looking good for cannabis stocks that perform well on fundamentals. The NVGT stock has established a good track record of excellent performance over a one-year-long period. Investors will be looking for stocks like this, to add to their portfolios and look for good returns over the long-term. The NVGT stock will be on the investment radar of such investors. We will also recommend buying this stock when the profit booking causes it to dip slightly.