Should I take credit? I dunno, maybe I should take credit.
After writing in our latest medical marijuana update that Naturally Splendid (NSP.V) had been doing everything right, only for the market to continually churn it backwards, and that ‘you’re nuts’ if you don’t get in at the current price – miraculously – NSP went on a run today.
The stock climbed 6c to $0.0385 in early trading on the back of HUGE volume (3.6 million at 10am Pacific), looking like it might have finally squeezed out its long term shorters.
NSP sells a literal shit ton of hemp seed to South Korea, where the stuff goes bonkers on home shopping channels, which are a big deal out there. It’s also selling it’s long-running Natera hemp protein powders in supermarkets, it has a hemp-based e-commerce site, a new hemp-based pet chew line that is pushing hard into pet stores, and the company has (unsexily) over the last few years acquired and monetized its own bio-production facility that it uses to satisfy B2B contracts for companies like Laguna Blends (LAG.C), which use it for formulations of its hemp protein coffee products.
I’ve long liked NSP and have no trouble telling people so, but it’s no secret that the stock has underperformed for some time.
Maybe.. just maybe.. we helped fix that yesterday?
— Chris Parry
FULL DISCLOSURE: NSP is not a client company. But they should get a wriggle on and change that.