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Next Green Wave Takes a Revenue Hit and NXGWF stock falls

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D. H. Taylor
(@dhtaylor)
Noble Member Admin
Joined: 2 years ago
Posts: 1053
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Next Green Wave NXGWF stock dropped some 50% on the recent news that revenues declined; it was not pretty.  But, as many of my subscribers know, this is a solid performing company.  I was flooded with emails from followers/subscribers saying they would be buying at the discounted levels.  Next Green Wave was already one of many undervalued marijuana stocks.  The drop in revenue and subsequent drop in share price is offering the opportunity to acquire this stock at reduced levels.  And, since the price is 50% lower, you can buy 2x the shares.

But, if you are already a shareholder, the drop is discouraging and that is understandable.  Rest assured, management has already guided us that the drop was owed to one-off problems and that revenue, which printed $3.6M this quarter, will print $4.5M next quarter.  But, the inconsistency is something that cannabis stock owners are likely going to have to be accustomed to as many companies report inconsistent numbers from time-to-time.

I am keeping Next Green Wave solidly in my Top Picks page as they perform well solidly.  The temporary move lower in share priced due to the drop in revenue should be viewed as an excellent company at a significantly reduced level.  Next Green Wave will continue to grow, are well capitalized, and have some of the best performing metrics of cannabis companies, the latest financial data notwithstanding.


   
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