This post first appeared on Micro Cap Daily

Elixinol Global Ltd. (OTCQX: ELLXF) has seen a massive growth of its stock price in 2019. The ELLXF value has been relatively stagnant for months in 2018, mostly moving from $1 to $1.5 and back. However, this situation started changing with the arrival of December 2018, when the price finally managed to permanently break its resistance level at $1.5. From then on, the price saw almost constant, steady growth. While it was stopped by additional resistances, and sometimes even pushed into small corrections, the price would always return to growth, and it eventually reached $4 earlier in April.

Who is Elixinol Global Ltd.?

Elixinol Global is a cannabis-based firm that operates in Australia. The company engages in the medical cannabis business, but also the industrial hemp. It creates and distributes various hemp-based products, including different CBD dietary supplements, skin care products, foods, and more. What’s more, the company also managed to start the distribution of its products in the US and Japanese markets, which was a big step in the right direction.

The company has started growing rapidly with the evolution of the cannabis industry. However, their goal has not changed, and it is still the desire to help the people and the planet alike, by delivering natural solutions.

The original company, Hemp Foods Australia, was founded back in 1999, as a leading hemp food wholesaler, retailer, manufacturer, and exporter. Over the next 15 years, the company worked hard to improve its business and grow, which finally happened with the revolution of the cannabis industry. This allowed it to found Elixinol USA in 2014, thus accessing the US market. However, this was also the year when Nunyara was founded, in order to participate in the emerging Australian medicinal cannabis market.

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Elixinol Global’s grows strongly in 2019

Elixinol’s sudden growth started around Thanksgiving and Black Friday of 2018. The company’s Japanese subsidiary, Elixinol Japan, jus received significant investment, and with the oncoming holidays, Elixinol CBD announced a BOGO (Buy-One-Get-One) deal for holiday shoppers. As a result, the firm saw significant growth in sales, but it also gave back through charitable donations during Black Friday shopping weekend.

However, the growth truly kicked off after the 2018 Farm Bill was signed in late December, thus starting the entire wave of hype in the cannabis industry.

In 2019, Elixinol continued its growth and development, and it started by entering the New Zealand market in late January. However, the company did not stop there, and it expanded into Europe as well, as soon as February arrived. Its Nunyara started purchasing land for its own growth, and Elixinol ended February with the launch of its Water-Soluble Flavored CBD Powder.

The company made significant progress recently as well when it received the US hemp authority certification.

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The company’s expansion continues rapidly, and the firm is doing better than ever. The company has a market cap of $468.3 million, and its’ stock price is currently at $3.76 after experiencing a price rejection due to the clash with the massive resistance level at $4. However, this is not the first time that a resistance is attempting to prevent the price from growing, and ELLXF will likely break this one as well, just as many others before it. With all the positive development, the continuation of the price surge can surely be expected, and many investors have recognized that this might be the best time to invest in ELLXF. We will be updating on Elixinol Global when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Elixinol.

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Disclosure: we hold no position in Elixinol either long or short and we have not been compensated for this article.

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This post first appeared on Micro Cap Daily

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