Body and Mind Inc (OTCMKTS:BMMJ) Stock Gains Momentum: Company Expands Wholesale Operations

Have you been looking for stable stocks which may be showcasing outstanding performance? You need to focus on the Body and Mind Inc (OTCMKTS: BMMJ) stock. It has indicated stability over a reasonable period with a 7% jump amidst a substantial interest.

Trading Data

On Wednesday, BMMJ stock gained 7.13% to $0.1365 with more than 11K shares traded, compared to volume of 121K shares. The stock moved within a range of $0.1293 – 0.1405 after opening trading at $0.1293.

About Body and Mind Inc (OTCMKTS: BMMJ)

BaM upholds its position as an outstanding US multi-state cannabis operator, and it mainly deals in the production of top-quality medical and recreational cannabis cultivation. Its cannabis production and retail operations have enabled the company to scale higher. Some of its achievements include significant expansions in states such as Michigan, Ohio, Arkansas, and Nevada.

BaM intends to increase the shareholder value significantly and has already developed a blueprint to guide its steps toward reaching the set goal. It hopes to make significant gains from allocating resources and investing time in enhancing operational efficiencies, making facility expansions, and seeking state licensing opportunities. It also hopes that focusing on mergers and acquisitions will enable it to reach its goals.

Body and Mind Expands Wholesale Operations

BaM has disclosed information about the growth of its wholesale operations in Arkansas, Ohio, and California. It says things are looking up in Ohio, with the company’s manufacturing operations on an upward trend. Some leading products include kief, crumble, ambrosia, and shatter. It calls upon customers to check out Body and Mind Cleveland dispensary to purchase the various products. It also encourages them to check out some other 10 dispensaries across Ohio.

It has also spoken about its operations in Arkansas, where it just completed the phenotyping of its newest strains. It is pleased with the Arkansas cultivation because it obtained excellent market feedback. The other development was the deal with DEP Nevada, Inc, in which BaM wanted several amendments and extensions to a loan agreement.

The company hopes extending its current loan facility will significantly contribute to its developmental plans. It also hopes to benefit from more opportunities. The CEO of Body and Mind, Michael Mills, is pleased about the expansion plans and anticipates better times ahead where they enjoy optionality in seeking out opportunities.

Technical Data

BMMJ stock is trading below the 20-Day and 50-Day Moving averages of $0.15 and $0.16 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.29.

Key Quote

“We are excited to continue expanding our proven Nevada products into the limited license states of Ohio and Arkansas”, stated Michael Mills, CEO of Body and Mind. “Our team continues to produce sought after flower, extracts and edibles as we bring our deep experience and proven product portfolio from the Nevada market to our growing operations.”