$GXXY Marijuana Penny Stocks To Hold This Month
At times a new hire could be seen as a heavy-handed indicator of a new corporate direction. One such example is Galexxy Holdings, Inc.’s (OTC: GXXY) decision to hire Dan Gay as chief marketing officer. As things stand, GXXY has been expanding its functional mushroom brand Wellbeing Farms by constantly adding new products and improving sales through exportation. That said, marketing reefers and marketing non psychedelic mushrooms are two different ball games. Gay’s expertise in marketing could potentially help GXXY improve its functional mushroom brand and as a result, elevate GXXY stock to new heights. With news potentially shared this week, GXXY is one of the marijuana penny stocks to watch closely.
GXXY Fundamentals
Dan Gay
It can sometimes seem like everything Gay touches turns to gold. When he worked at MCI Telecom the company experienced unprecedented growth as he led sales teams in 15 states which increased the company’s revenue by $115 million during his tenure there. The number of employees in the company also increased from 200 to 30 thousand as a result.
Furthermore, during his time at Qwest, he was instrumental in its growth leading it to a market cap of $60 billion. His time as iThrive Health’s Chief Marketing Officer (CMO) and VP was also met with substantial growth with online sales increasing 315% and its customer base grew 500%. Given his impressive achievements, it is safe to say that Gay is an indispensable asset that might cause GXXY to grow notably.
GXXY’s Functional Mushrooms
Many people tend to associate supplements and functional products with snake oil. This concern is warranted, however, that is not the case for Wellbeing Farms. The validity of Wellbeing Farms is simply apparent due to the data it provides concerning the species of mushroom utilized and the scientific benefits that are readily available in the literature.
It is for that reason that Wellbeing Farms has been extremely successful so much so that it started exporting its products to the UK and Europe and was nominated for the Leading Manufacturer Award at the White Label World Expo In October 2022 which is extremely impressive considering the fact that it was founded in 2021. Given Wellbeing Farms’ drastically fast growth rate, the company might be poised to start upscaling production which goes hand in hand with GXXY’s appointment of Gay.
One of the biggest risks that corporations face when they upscale is simply not finding enough vendors and or clients for their products. This would lead to less than satisfactory revenue that would be compromised by mounting expenses. That is where Gay comes in with his wealth of marketing knowledge that minimizes the risk. That said, Gay has seen his fair share of upscaling experience making him the perfect candidate to assist Wellbeing Farms in its expansive endeavors.
News This Week?
According to notable trader Frank Benedetto, GXXY stock is preparing to release news this week which might be related to its functional mushroom brand. If news drops, the stock could soar especially since it has an extremely low float of 3.8 million.
GXXY Financials
According to its Q1 report, GXXY’s assets increased QoQ from $8 million to $9 million and its cash on hand also increased from $94 thousand to $122 thousand. On the other hand, its liabilities increased QoQ from $1.1 million to $3 million.
In terms of revenues, GXXY reported $204.3 thousand in revenue for Q1 2023. That said, expenses rose YoY from $238 thousand to $667 thousand, which in turn caused net loss to increase from $238.8 thousand to $527.4 thousand.
Technical Analysis
GXXY is a neutral trend that is trading in a sideways channel in between $0.22, and $0.27. Looking at the indicators, the stock is trading above the 200, 50, and 21 MAs. Meanwhile, the RSI is approaching overbought at 66 and the MACD is curling bearishly.
As for its fundamentals, GXXY is one of the marijuana penny stocks to watch this week considering the bullish sentiment surrounding the stock and OTC stocks gaining momentum lately. With the company potentially sharing news this week, GXXY could soar in anticipation – especially with its extremely low float of 3.8 million.
GXXY Forecast
As investors are anticipating news this week, GXXY stock could be one of the marijuana penny stocks to watch closely since it could soar in anticipation given its low float. With the OTC witnessing increased interest from investors recently, the potential news could drive up interest in the stock which makes it a prime runner candidate to watch closely. Meanwhile, GXXY appointing Gay could prove to be fruitful to the company thanks to his experience and achievements at his prior companies. For these reasons, GXXY could be one of the most promising marijuana penny stocks to buy this week.
GXXY Fundamentals
Dan Gay
It can sometimes seem like everything Gay touches turns to gold. When he worked at MCI Telecom the company experienced unprecedented growth as he led sales teams in 15 states which increased the company’s revenue by $115 million during his tenure there. The number of employees in the company also increased from 200 to 30 thousand as a result.
Furthermore, during his time at Qwest, he was instrumental in its growth leading it to a market cap of $60 billion. His time as iThrive Health’s Chief Marketing Officer (CMO) and VP was also met with substantial growth with online sales increasing 315% and its customer base grew 500%. Given his impressive achievements, it is safe to say that Gay is an indispensable asset that might cause GXXY to grow notably.
GXXY’s Functional Mushrooms
Many people tend to associate supplements and functional products with snake oil. This concern is warranted, however, that is not the case for Wellbeing Farms. The validity of Wellbeing Farms is simply apparent due to the data it provides concerning the species of mushroom utilized and the scientific benefits that are readily available in the literature.
It is for that reason that Wellbeing Farms has been extremely successful so much so that it started exporting its products to the UK and Europe and was nominated for the Leading Manufacturer Award at the White Label World Expo In October 2022 which is extremely impressive considering the fact that it was founded in 2021. Given Wellbeing Farms’ drastically fast growth rate, the company might be poised to start upscaling production which goes hand in hand with GXXY’s appointment of Gay.
One of the biggest risks that corporations face when they upscale is simply not finding enough vendors and or clients for their products. This would lead to less than satisfactory revenue that would be compromised by mounting expenses. That is where Gay comes in with his wealth of marketing knowledge that minimizes the risk. That said, Gay has seen his fair share of upscaling experience making him the perfect candidate to assist Wellbeing Farms in its expansive endeavors.
News This Week?
According to notable trader Frank Benedetto, GXXY stock is preparing to release news this week which might be related to its functional mushroom brand. If news drops, the stock could soar especially since it has an extremely low float of 3.8 million.
GXXY Financials
According to its Q1 report, GXXY’s assets increased QoQ from $8 million to $9 million and its cash on hand also increased from $94 thousand to $122 thousand. On the other hand, its liabilities increased QoQ from $1.1 million to $3 million.
In terms of revenues, GXXY reported $204.3 thousand in revenue for Q1 2023. That said, expenses rose YoY from $238 thousand to $667 thousand, which in turn caused net loss to increase from $238.8 thousand to $527.4 thousand.
Technical Analysis
GXXY is a neutral trend that is trading in a sideways channel in between $0.22, and $0.27. Looking at the indicators, the stock is trading above the 200, 50, and 21 MAs. Meanwhile, the RSI is approaching overbought at 66 and the MACD is curling bearishly.
As for its fundamentals, GXXY is one of the marijuana penny stocks to watch this week considering the bullish sentiment surrounding the stock and OTC stocks gaining momentum lately. With the company potentially sharing news this week, GXXY could soar in anticipation – especially with its extremely low float of 3.8 million.
GXXY Forecast
As investors are anticipating news this week, GXXY stock could be one of the marijuana penny stocks to watch closely since it could soar in anticipation given its low float. With the OTC witnessing increased interest from investors recently, the potential news could drive up interest in the stock which makes it a prime runner candidate to watch closely. Meanwhile, GXXY appointing Gay could prove to be fruitful to the company thanks to his experience and achievements at his prior companies. For these reasons, GXXY could be one of the most promising marijuana penny stocks to buy this week.
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