$GXXY Marijuana Penny Stocks To Hold This Month
One of the marijuana penny stocks worth keeping an eye on this year is Galexxy Holdings, Inc.’s (OTC: GXXY) after it released a road map revealing a litany of developments that the company believes will catapult its share price to $2 in the next 12 months and uplist to NASDAQ. This projection may seem at first like mere speculative optimism, but given the litany of its agreements and their potential to grow revenues at an impressive rate, this projection is possible. In light of this, GXXY stock may be one of the most exciting OTC stocks to watch closely as its story unfolds.
GXXY Fundamentals
Recently, GXXY revealed its plans for the coming year. These plans include improving its direct selling through investments in its online stores, improving retail through its VendGenie plan, and distributing its products through a distinguished wholesaler.
In an effort to improve its online sales GXXY is currently in the process of executing a joint venture with a marketing software leader in order to develop Galexxy.com. This development is projected to cause its online sales to skyrocket since it projects to realize around $1.5 million from subscriptions in 2023 while projecting online sales to increase to $7.5 million in 2023 and $20 million in 2024.
When it comes to retail, GXXY is committing $9 million to initiate its VendGenie plan which will riddle the market with vending machines. The first 40 machines are planned to be in Texas and Pennsylvania and are projected to bring in $7.5 million in revenue for 2023. Furthermore, GXXY projects to realize $27.3 million as a result of these vending machines in 2024.
As for the wholesale part of its business, GXXY entered into wholesale agreements with ABC Wholesale and Avaloo which might be the most promising development in the company’s plan. Currently, the company is projecting that these wholesale agreements would provide it with $1.4 million in revenues annually, however, this projection may be conservative given the size and audience of ABC Wholesale, which is a gargantuan wholesaler boasting 650 locations throughout the US. Since ABC Wholesale is present in states where cannabis is not legal, this deal is likely to significantly boost the company’s CBD and functional mushroom sales.
Based on all of these developments, the outlook for GXXY appears to be bright as the company recently generated $200 thousand in revenues in Q1 2023 which means that before these developments, the company was on pace to report $800 thousand in annual revenues. In contrast, the company projects to make $9 million from subscriptions and online sales, $7.5 million in vending machine sales, and $1.4 million from its wholesaler deals. In light of this, the company is on track to fulfill its goal of uplisting to the OTCQX in Q4 and ultimately uplist to NASDAQ in late 2024.
Technical Analysis
GXXY stock is in a bearish trend and is trading in a downward channel. Looking at the indicators, the stock is above the 200, 50, and 21 MAs which is a bullish indication. Meanwhile, the RSI is neutral at 51 and the MACD is approaching a bullish crossover.
As for the fundamentals, GXXY appears to be one of the most exciting marijuana penny stocks thanks to its promising road map. This is backed up by the success of its functional mushrooms brand – Wellbeing Farms – which won an international retail award only a year after its inception. With the stock trading near support, bullish investors could wait for retests of the $.14 support to enter long positions ahead of the company’s uplisting to OTCQX later this year.
GXXY Forecast
Fresh out of the digital printing press GXXY’s road map is an arbiter of great news. As things stand the company is in the process of executing deals with Avaloo, ABC wholesale, and a marketing software expert in order to increase its retail, and direct sales revenue. Given its recent string of success with Wellness Farms, as well as the thorough nature of its multilayered sales plan the company’s overarching plan of reaching a PPS of $2 and becoming a NASDAQ listed company by late 2024 is a real possibility.
GXXY Fundamentals
Recently, GXXY revealed its plans for the coming year. These plans include improving its direct selling through investments in its online stores, improving retail through its VendGenie plan, and distributing its products through a distinguished wholesaler.
In an effort to improve its online sales GXXY is currently in the process of executing a joint venture with a marketing software leader in order to develop Galexxy.com. This development is projected to cause its online sales to skyrocket since it projects to realize around $1.5 million from subscriptions in 2023 while projecting online sales to increase to $7.5 million in 2023 and $20 million in 2024.
When it comes to retail, GXXY is committing $9 million to initiate its VendGenie plan which will riddle the market with vending machines. The first 40 machines are planned to be in Texas and Pennsylvania and are projected to bring in $7.5 million in revenue for 2023. Furthermore, GXXY projects to realize $27.3 million as a result of these vending machines in 2024.
As for the wholesale part of its business, GXXY entered into wholesale agreements with ABC Wholesale and Avaloo which might be the most promising development in the company’s plan. Currently, the company is projecting that these wholesale agreements would provide it with $1.4 million in revenues annually, however, this projection may be conservative given the size and audience of ABC Wholesale, which is a gargantuan wholesaler boasting 650 locations throughout the US. Since ABC Wholesale is present in states where cannabis is not legal, this deal is likely to significantly boost the company’s CBD and functional mushroom sales.
Based on all of these developments, the outlook for GXXY appears to be bright as the company recently generated $200 thousand in revenues in Q1 2023 which means that before these developments, the company was on pace to report $800 thousand in annual revenues. In contrast, the company projects to make $9 million from subscriptions and online sales, $7.5 million in vending machine sales, and $1.4 million from its wholesaler deals. In light of this, the company is on track to fulfill its goal of uplisting to the OTCQX in Q4 and ultimately uplist to NASDAQ in late 2024.
Technical Analysis
GXXY stock is in a bearish trend and is trading in a downward channel. Looking at the indicators, the stock is above the 200, 50, and 21 MAs which is a bullish indication. Meanwhile, the RSI is neutral at 51 and the MACD is approaching a bullish crossover.
As for the fundamentals, GXXY appears to be one of the most exciting marijuana penny stocks thanks to its promising road map. This is backed up by the success of its functional mushrooms brand – Wellbeing Farms – which won an international retail award only a year after its inception. With the stock trading near support, bullish investors could wait for retests of the $.14 support to enter long positions ahead of the company’s uplisting to OTCQX later this year.
GXXY Forecast
Fresh out of the digital printing press GXXY’s road map is an arbiter of great news. As things stand the company is in the process of executing deals with Avaloo, ABC wholesale, and a marketing software expert in order to increase its retail, and direct sales revenue. Given its recent string of success with Wellness Farms, as well as the thorough nature of its multilayered sales plan the company’s overarching plan of reaching a PPS of $2 and becoming a NASDAQ listed company by late 2024 is a real possibility.
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