$APP - Bringing Blockchain Tech into the Cannabis Industry Global Cannabis Applications Corp. (CGAC) might be an interesting stock to get into because of its technology and future expansion plans. They are bringing the high-tech world of blockchain into the medical marijuana industry and by November 2023 they estimate revenues to reach $48M+ from 2 main revenue sources generated from growers, distributors, and retailers.
> Effixi licensing revenue for data storage on the Citizen Green blockchain ($25M)
> Licensing of seed to sale and consumer data stored on the blockchain ($23M)
As the cannabis industry grows across the globe companies will need a high-tech solution to track cannabis basically from seed to sale. The transparency and ease of use are what will help GCAC secure new clients and grow the business. The recent announcement of a new marketing initiative for their Citizen Green product will help increase exposure to potential clients and it will grow investor awareness.
https://www.thenewswire.com/press-releases/1A0vF2GE5-gcac-unleashes-full-scale-citizen-green-marketing-initiative.html
With a current market cap of around $42M, the stock is looking fairly undervalued considering the future revenue estimates. $APP closed today at $0.23, I believe that the low $0.20 range is the lowest the stock will go for a while so I’m loading up on some shares today during the dip.