In early March, CanFarma(CNFA) launched on the Canadian Securities Exchange at the same time the news broke that a virus was running rampant and a potential economic shutdown loomed.
As expected, volumes were light and lower than projected when the company prepped the launch more than a year earlier. No one knew a Pandemic was coming, but CEO David Lonsdale and his team stuck to the script and followed the Canadian opening with The German Bourse.
The trading volume has been doubling each week, as CBD companies with a solid execution plan are getting attention as many look for safe harbor in a changing economy, clearly, the Cannabis Industry and the CBD Subsector has caught a bid. CanaFarma (CNFA) reflects this even though they launched into a headwind. We wrote about the valuation previously click here to read that article.
CanaFarma’s main product is a CBD Gum called Yooforic that has generated revenue for multiple quarters and was producing great margins. The company intends to ramp up its Cannabis grow capacity and plans to stay the course coming out of the economic lockdown.
The company has been climbing a wall of worry, and increasing volume and holding onto the prelaunch valuations. These are important facts in a time of uncertainty.