Promising $$$$$ Halo Labs: An Execution Story in the Making
One of the most exciting trends of 2019 has been the increasing demand for cannabis oil, especially high CBD oil. We believe that this trend is just getting started and have been focused on the companies that are capitalizing on the cannabis oil opportunity.
Halo Labs (HALO: NEO) (AGEEF: OTC) is a company that has been capitalizing on the cannabis oil market and we have been highlighting this opportunity since late 2018. The company is in the middle of a major expansion and has been executing flawlessly. 2019 has been a banner year for the cannabis oil company, having reported record revenues for the month of January, February, and March.
Although the company has not formally announced quarterly earnings, we can use the revenue numbers reported for these months to determine how well it has performed during the first calendar quarter of 2019. Earlier this week, Halo Labs reported to have generated $3.7 million (CAD) in revenue during March. This comes after the company reported $3.4 million (CAD) and $3.1 million (CAD) for the month of February and January, respectively.
2019 has been a stellar year for Halo Labs and the recent developments have been significant. The company has benefited from its expansion into California and Nevada, and we are favorable on the growth prospects associated with these markets. Prior to this expansion, Halo Labs was only levered to the cannabis oil opportunity in Oregon and we are bullish on the expanded focus.
Over the next few months, we expect Halo Labs’ fundamental story to continue to improve and this is something that investors should be watching. When compared to its peers, the company’s valuation is attractive, and we are favorable on its catalysts for growth. This is a company that is high on our radar and we suggest keeping an eye on this one.