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Namaste Technologies Inc

Andrew Left’s Citron Research is shorting cannabis companies left and right, but not this one

The tobacco company’s Canadian subsidiary recently received a cannabis cultivation license from Health Canada

Cannabis plant in the sunlight
Citron Research has shorted Cronos, Namaste Technologies and other cannabis companies

Short-seller Andrew Left’s Citron Research has been shorting cannabis companies left and right, from Cronos Group Inc (NASDAQ:CRON) to Namaste Technologies Inc (CVE:N, OTCQB:NXTTF).

However, the infamous short-seller is long on tobacco-meets-cannabis company Pyxus International Inc (NYSE:PYX).

READ: Pyxus International rockets after its indirect subsidiary receives a cannabis cultivation license from Health Canada

Shares of the North Carolina-based company closed 36.62% higher on Monday at $38.50 and were up almost 5% in afterhours trade to $40.39. 

Citron Research revealed its position via Twitter, highlighting the company’s strong management team and tight float.

The tweet included a link to the LinkedIn profile of executive vice president Bryan Mazur, the former vice president and general manager of Dr Pepper Snapple Group, calling him a “favorite hire”.

The agriculture company announced last week that its Canadian subsidiary, Goldleaf Pharm Inc, received a cannabis cultivation license from Health Canada.

The Access to Cannabis for Medical Purposes Regulations cultivation license allows Goldleaf to begin cultivating medical cannabis at its 20,000 square foot indoor growing facility in Ontario.

Pyxus, formerly known as Alliance One International, offers products in the leaf tobacco, e-liquids, industrial hemp and legal cannabis industries.

 

Contact Lenore Fedow at [email protected]

Follow her on Twitter@LenoreMariee

Quick facts: Namaste Technologies Inc

Price: $0.55

Market: TSX-V
Market Cap: $176.96 m
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Full interview: Namaste Technologies receives purchase order for product...

Namaste Technologies (CVE: N - OTC: NXTTF) CEO Meni Morim joined Steve Darling from Proactive Vancouver in Toronto with news the company has received a purchase order for pre-rolled cannabis products from the BC Liquor Distribution Branch. Those will be available to purchase at licensed...

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