Is CANN stock a good buy at this moment? What is its price target, CANN stock price history, and what can we expect in the following months? If you want to invest in CANN, it’s important to understand the company’s background and recent changes.

Formerly known as General Cannabis Corp, the company rebranded to Trees Corporation in June 2022. This name change reflects a shift in the company’s focus toward retail and cultivation in the cannabis industry, particularly in Colorado and Oregon. Trees Corporation operates licensed greenhouse cultivation facilities and dispensaries in these states.

CANN Stock Price Today Trading Data

CANN stock opened at $0.0490, slightly lower than its previous close of $0.0500. Throughout the day, it traded within a narrow range, maintaining the $0.0490 price point. The stock’s 52-week range spans from $0.0490 to $0.2000. Notably, the day’s trading volume was extremely low at just 100 shares compared to the average volume of 43,567 shares.

With a market capitalisation of $5.329 million, CANN has a beta of -0.10, indicating that it tends to move inversely to the market. The company’s current financial state shows a trailing twelve-month (TTM) earnings per share (EPS) of -$0.0500, suggesting it is not profitable at present. There is no reported dividend or yield data for the stock.

Despite its low price, CANN has demonstrated strong performance. Year-to-date, it has delivered a solid return of 27.41%, outperforming the S&P 500’s 15.73%. The stock’s one-year return is even more impressive at 63.70%, compared to the S&P 500’s 22.24% gain. CANN’s long-term performance is also noteworthy, with a 3-year return of 89.63% and a 5-year return of 94.87%, slightly outpacing the S&P 500 over the five-year period.

Looking ahead, analysts’ price targets for CANN range from a low of $0.50 to a high of $0.52.

CANN Stock Chart for 9-Month

About Trees

TREES is the parent organisation of a vertically integrated cannabis enterprise and multi-state operator across the United States, specifically in Colorado and Oregon. 

The company is implementing a roll-up strategy to acquire licensed assets in established markets while fostering dedicated local customer relationships. 

TREES currently manages a light-deprivation greenhouse and an indoor cultivation site in Boulder, Colorado, along with dispensaries located in Englewood, Longmont, and Denver, Colorado, as well as two operational dispensaries in Portland, Oregon. 

The company is listed on the OTCQB market under the ticker symbol CANN.

Trees Recent news

Trees Corporation announced a significant restructuring of its senior secured loan to strengthen its financial foundation, deferring interest payments and securing additional working capital for growth.

According to Adam Hershey, the Interim CEO of TREES, aims for long-term growth by restructuring to reduce cash needs, defer interest payments, and secure capital, enhancing flexibility for strategic initiatives and shareholder value.

Revised loan terms have gained lender support, easing cash burdens and enabling focus on 2024 growth initiatives and strategic acquisitions, positioning TREES for effective cost management and market leadership.

Ed Myers, Interim CFO & COO, emphasises that restructuring boosts lender confidence, enhances cash flow, and equips the company to pursue disciplined growth and market opportunities.

CANN Stock Price Forecast and Signals

The CANN stock forecast shows mixed signals, with a buy signal from the 3-month MACD but sell signals from both short and long-term Moving Averages. 

Resistance levels are at $0.0546 and $0.0600, with a recent -23.44% drop following a pivot top signal. Although lower volume during the price decline is technically positive, low liquidity increases overall risk. Further declines are expected until a new bottom pivot is established.

With average daily movements and increasing risk due to low volume and recent volatility of 4.17%, the stock lacks support and may perform poorly soon.

Is CANN a Stock to Buy?

Trees Corporation exhibits multiple unfavourable indicators and is currently in a broad downward trend. Stocks get a boost whenever there’s a major announcement pertaining to federal marijuana reform. However, high-growth cannabis stocks have declined due to pricing pressures and competition, making them speculative investments currently.