The US House passed the MORE Act last week, seeking to decriminalize marijuana and remove it as a Schedule I drug under the Controlled Substances Act. The US Senate must also approve the bill before it can be sent to the president who can sign the bill into law or veto it. Should the bill become law, this will present an opportunity for cannabis related companies to sell Cannabis products in the US and to bring their brand and products to the US.
As the mainstreaming of cannabis gathers momentum, a growing number of countries are expected to make consuming cannabis legal over the next few years. Significant investments, improved distribution and refined marketing strategies mean theses public cannabis companies are only just starting to sprout. Cannabis stock investors are looking for the industry to deliver improvement this year.
The cannabis sector, while down still year-to-date, has experienced a massive volatility since the outbreak of covid19. The coronavirus has laid waste to financial forecasts but some analysts and executives argue that the cannabis industry, and stocks related to it, still have long-term potential for growth.
High-flying and volatile cannabis stocks have caught the attention of both the Main street and Wall Street this year.
Investors now are looking for companies that will simply survive. There are only a few names in the legal-marijuana sector that investors can look to for relative safety and TransAtlantic Capital Inc. (OTC: TACI) is on top of our list.
Transatlantic Capital , Inc. recently signed land deal for 250 acres to grow cannabis and psilocybin mushrooms in Jamaica. This 250 acre parcel will allow the Company to create and build the largest cannabis and magic mushroom” operation in the carribean . This facility could produce upwards of 100k pounds annually for export to licensed countries throughout the world.
“We are truly now, beginning to dig in,” stated Julius Jenge, Chief Executive Officer of TACI Inc. Our commitment to research, production and distribution of psilocybin mushrooms, and cannabis is now a reality, effective today after acquiring the Clarendon Jamaica property. We now have a very solid plan in place, and we anticipate great things coming to fruition.”
TACI is trading at a discount compared to other players. And several upcoming catalysts could catapult shares higher. In our view, a bounce is all but guaranteed. Right now, all of the fear is priced in. That means, TransAtlantic Capital Inc. (OTC: TACI) in the short-term, have nowhere to go but up.