American Green Inc (OTCMKTS:ERBB) seems to have started the month of December on a rather dull pace after closing the last week of November on a bearish trend. The company’s shares dropped by -20.00%, reflecting the prevailing bullish performance that has prevailed for the past three months.
American Green’s performance is currently disappointing especially to investors who may have categorized it as a winning stock in their watch list. This is because the stock has been performing poorly not only recently but also on a long-term perspective spanning a few months. For example, the firm reported a -33.33% performance in the past month and it has also tanked by -60.00% over the past since months.
The reasons behind the poor performance
So far American Green shares have tanked by -66.67% over the past 12 months. This overall bearish trend seems to be prevailing over the long-term which means that there are factors that are behind it. The most common factor is the fact that the stock has been extremely overbought. It could also be due to the fact that the company is facing heavy competition which affects sales. It could also be due to unfavorable market conditions that have also been affecting other companies.
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Is American Green a good buy anymore?
This is probably a question that many investors who have American Green on their watch list are asking themselves. The reason being, the company’s stock price has been tanking. The old principle of “buy low and sell high” therefore comes in. Well, determining whether a stock is a good “buy” requires more than just a low entry point.
One must consider various factors such as the market outlook. In American Green’s case, it has its roots deep in the hemp and medical cannabis industry. This is an industry that is rapidly growing especially as marijuana gains legal acceptance for medical use in many regions. Scientists have also discovered many medical advantages of cannabis extracts and this means that there is a lot of profit to be made especially in the medical sector.
There is a large and growing market for such products and American Green is one of the players in the cannabis-based products market. The good thing is that there is room for growth and numerous companies in the same space have already gained massive ground over the past few years. If managed the right way, American Green is still worth buying into especially considering the Cannabis market’s current direction.
American Green’s future
The future of the company looks like it will not be in the cannabis market alone. American Green announced a few months ago that it planned to launch a new subsidiary called American Green Films, LLC. The latter will be based in Nipton, California where it will make commercial motion pictures.
American Green’s CEO David Gwyther pointed out that the move is aimed at boosting shareholder value. He also pointed out that the motion pictures pursuit will also be advantageous to Nipton. He stated that American Green Films, LLC will promote Nipton as well as its neighboring Mojave National Preserve, Ivanpah Valley and the New York Mountains.
The company’s diversification plans as well as its commitment to generating more value for shareholder highlight American Green’s efforts to improve performance in the future. The firm has also been hard at work trying to grow its cannabis business. American Green is determined to be the leading seed-to sale innovator, a mission that has attracted more than 50,000 shareholders. It has also been working on raising awareness especially beyond its industries so that it can widen its scope and attract more sales.
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