Cannagistics Inc (OTCMKTS: CNGT) Running Northbound as Co Readies New Product Line for Market & Global3PL Gains Traction
By
Boe Rimes
January 3, 2022
0
2047
Cannagistics Inc (OTCMKTS: CNGT) has seen a massive surge in volume and price in recent days skyrocketing out of the triple zeroes to recent highs of $0.024 per share. The stock is quickly getting noticed by investors and some big players in small caps who are accumulating at current levels. We previously reported on CNGT back on November 1, 2020 stating at the time: “Reverse Merger plays are some of the biggest runners in small caps rivaling only biotech’s in their ability to make historic shot term gains. CNGT has been heating up since the Company got new CEO Jam Rob Gietl on board who was most recently, Until March 2020 the Interim CEO of Availa Bio, Inc., a company engaged in the development of numerous patented and patent pending products in the health and wellness space. According to an 8k filed by PBIO; “Pressure BioSciences, Inc. entered into a binding letter of intent to merge with Cannaworx Holdings, Inc. Pursuant to the Second Amendment, the parties extended the September 30, 2020 deadline to October 31, 2020.
It’s easy to see why investors are bidding CNGT Higher; pink current, the Company has a stellar management team behind it led by Jim Morrison was previously President of L’Oréal for 9 years, he acquired Redken and Matrix and led a top-line growth average above 20%. They already have 4 products at market 2 of which were previously approved by the FDA and are currently launching a number of new products. They also own a valuable intellectual property portfolio with numerous patents and patents pending. CNGT has an excellent stock structure with 266,242,608 shares outstanding of which 94,097,582 are restricted leaving 172,327,026 free trading shares. CNGT trades at a total market capitalization of $3,274,784. CNGT popped over $0.10 per share this time last year and investors are looking for a return to these levels and a break over. CNGT has liquidity, momentum and a growing shareholder base bidding the stock higher.
