The Nevada-based cannabis vertical is a stock investment winner
Flower One Holdings is a Nevada-based vertically integrated cannabis company. It has been on a mission to expand and that mission has paid off with the company announcing a list of new branding and licensing agreements. As a result, Flower One, which is traded on the Canadian Stock Exchange under the ticker symbol FONE, is a strong buy, with at least one analyst giving it a 226% upside.
Flower One announced last week that it had signed licensing agreements, as well as brand partnerships with Rapid Dose Therapeutics and Flyte Concentrates. Through Rapid Dose, the company now has a license to manufacture, distribute and sell the company’s QuickStrip, a proprietary cannabis delivery technology. The deal with Flyte will see Flower receive a license to manufacture, distribute and sell the FlytePen and JetPack, Flyte’s two signature offerings.
This past Tuesday, Flower signed another agreement, this one with California-based lifestyle brand Old Pal. That deal gives the company a license to produce, manufacture and distribute Old Pal to all of Nevada’s 130 cannabis retailers, marking the first time Old Pal has been offered outside of The Golden State.
The company is also building a production facility in Nevada that will handle over 63,000kg annually. Construction of that facility is still on track, and shores up Flower’s market position.
According to industry analyst Greg McLeish, “January has been a busy month for Flower One and since the beginning of the month it has signed licensing agreements and brand partnerships with Old Pal, Flyte Concentrates and Rapid Dose Therapeutics. These recent announcements help to underpin our financial forecasts through [fiscal year] 2020 and our thesis remains intact.”
