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Avicanna ( (TSE:AVCN) ) just unveiled an announcement.
Avicanna LATAM SAS has partnered with Harrington Wellness to launch the re+PLAY CBD wellness brand in the United States. This collaboration brings CBD-based topicals, developed with input from scientists, athletes, and doctors, to the U.S. market, aiming to cater to the needs of the athletic and sports community. The initial product offerings include a CBD localized cream and a transdermal gel, both utilizing Avicanna’s patented technology and organic hemp-derived cannabinoids. This launch signifies a strategic expansion for Avicanna into the U.S. market, potentially enhancing its industry positioning and offering new opportunities for stakeholders.
The most recent analyst rating on (TSE:AVCN) stock is a Hold with a C$0.50 price target. To see the full list of analyst forecasts on Avicanna stock, see the TSE:AVCN Stock Forecast page.
Spark’s Take on TSE:AVCN Stock
According to Spark, TipRanks’ AI Analyst, TSE:AVCN is a Neutral.
Avicanna’s overall stock score is primarily influenced by its financial performance and valuation challenges. Despite strong revenue growth, the company faces significant profitability and financial stability issues. Technical analysis shows moderate bullish momentum, but the negative P/E ratio and lack of dividend yield weigh heavily on the valuation.
To see Spark’s full report on TSE:AVCN stock, click here.
More about Avicanna
Avicanna LATAM SAS is an international biopharmaceutical company based in Colombia, specializing in the development, manufacturing, and commercialization of plant-derived cannabinoid-based products. It is a wholly owned subsidiary of Avicanna Inc. and operates in the global medical and pharmaceutical market segments with a focus on cannabinoid-based formulations.
Average Trading Volume: 78,257
Technical Sentiment Signal: Hold
Current Market Cap: C$31.98M
See more insights into AVCN stock on TipRanks’ Stock Analysis page.