​Partnerships with Both Tilray and Aurora Could Make Namaste Technologies a Sleeper Hit in the Cannabis Space

By Stephen L Kanaval via Iris.xyz

As the cannabis market continues to heat up, many investors are paying close attention to the consolidation originating from outside sin sectors like alcohol and tobacco – the Executive Vice President of Altria Group Inc.  (MO [NYE] – $60.93), owners of Marlboro, mentioned that they were evaluating “market opportunities” – but it might be wise to keep a close eye on the micro and small cap companies with experienced teams who are slowly gaining momentum. One of the most notable in the last few months is Namaste Technologies Inc.  (NXTTF [OTCQB] – $2.06).

Besides seeing impressive volume, the company’s stock has climbed significantly as summer comes to a close. Over the last three months, which includes a submission to uplist on the NASDAQ, Namaste’s stock price has risen by more than 80% from near $1.30 to now well above $2.25.

A notable catalyst are solid numbers, the company generated $1.65M in revenues, a 50% increase from last year, and notable user growth for its Canadian websites, NamasteMD and My Uppy Cannabis. The former is the first telemedicine app that allows users to receive a medical cannabis prescription expediently and through the application itself. The same app also allows you to shop for approved medical cannabis products as well.

“By focusing our efforts on the Canadian market over the past year we have increased our exposure and user base that forms the top of our sales funnel in converting online traffic into medical patients,” added Sean Dollinger President and CEO of Namaste in a company press release. “We’re the first company in Canada to focus exclusively in online patient acquisition and have developed an amazing piece of software with NamasteMD that gives the Company a competitive advantage in and industry that we believe will trend towards massive growth in the online market.”

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