NUGS Rounded Base Pressing Toward Breakout on Big Growth Data

NUGS has been on the move in recent weeks.

The pattern is now a near-perfect rounded base, implying a near-term target at $0.20.. meaning a double from here if the pattern plays out and we trigger a breakout through trendline resistance.


Cannabis Strategic Ventures (OTCMKTS:NUGS) just put out word that it will have an expanded inventory ready for sales and shipment next week after a sharp surge in sales in early May left the Company “sold out” every week for the past month for the first time in its history.

This is a name that recently expanded its total production capacity by as much as 150% (ie, more than doubled its cannabis production) likely because of its growing distribution partnerships, which represent the main driver for sales for a company like this.

The California cannabis marketplace is seeing a shortage right now, so producers have the best context possible – unless they aren’t in a position to expand production. NUGS, luckily for its shareholders, has been able to scale up to capitalize on the context and drive what looks to be a pretty dramatic topline growth acceleration.

To wit: Cannabis Strategic Ventures (OTCMKTS:NUGS) is coming off a record month of sales in April, where it booked orders at an annualized pace exceeding $10 million. In all, April sales came in more than 800% higher than the average monthly sales performance logged during the Company’s calendar Q1 – momentum that has carried over into May sales data.

“We have never seen anything like this,” noted Simon Yu, CEO of Cannabis Strategic Ventures. “We booked $100,000 in one day to clear out all of our remaining inventory. We anticipated this dynamic but still underestimated the force of the trend. Too much demand is always the problem you want to have. And we are confident we will be able to translate this into further upside in terms of our top line growth curve.”