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The latest announcement is out from Ovation Science ( (TSE:OVAT) ).
Ovation Science Inc. has expanded its license agreement with Planet 13 Holdings to introduce its Invisicare® topical and transdermal cannabis products to Florida, the largest medical cannabis market in the USA. This strategic move leverages Planet 13’s extensive network of 33 dispensaries in Florida, providing Ovation with immediate market access and the potential for significant revenue growth. The partnership is expected to enhance Ovation’s financial results through royalty income and strengthen its market presence, while Planet 13 anticipates increased brand presence and optimized production in Florida.
Spark’s Take on TSE:OVAT Stock
According to Spark, TipRanks’ AI Analyst, TSE:OVAT is a Underperform.
Ovation Science’s overall stock score is low due to severe financial challenges, including declining revenues, negative margins, high leverage, and liquidity issues. Despite some positive technical indicators, the negative valuation metrics and lack of earnings guidance or corporate events further weigh down the score.
To see Spark’s full report on TSE:OVAT stock, click here.
More about Ovation Science
Ovation Science Inc. operates in the cannabis industry, focusing on science-based topical and transdermal products. The company is known for its patented Invisicare® skin delivery system, which enhances the bioavailability of cannabinoids, ensuring effective delivery through the skin. Ovation collaborates with partners like Planet 13 to distribute its products in key markets such as Nevada, Pennsylvania, and now Florida, with plans for further expansion.
Average Trading Volume: 10,313
Technical Sentiment Signal: Buy
Current Market Cap: C$2.11M
Learn more about OVAT stock on TipRanks’ Stock Analysis page.