U.S Stocks caused some concern this week as many of last week’s gains diminished, and vegan stocks were no different. But as veganism continues to trend, one plant-based company’s stocks continue to make the watch list.
PlantX (CSE: VEGA) (Frankfurt: WNT1) (OTCQB: PLTXF) shares were at $0.155 as the market closed on February 7, 2022, gaining 6.90% throughout the day. During the last 10 days, the stock price of PlantX shares has risen on 6 of those days and is up 29.92% over the low points of the last two weeks.
PlantX Life Inc., the Canadian-based data-driven e-commerce company, serves as a one-stop shop for everything plant-based. The company has recently shared news of a newly launched YouTube series, Medically Speaking. The educational series will help PlantX continue to grow its online presence while promoting the benefits of a plant-based lifestyle.
Medically Speaking has released its third episode of the series that features long-time vegan athlete, Adam Kruger and the PlantX Medical Advisory Board answering the public’s questions about plant-based living. Since the initial launch of the series on January 20, shares of PlantX have start to rise again from their January 20th price of $0.12.
PlantX displayed tremendous growth in 2021, achieving monthly recurring revenues of $1.3 million in just five months after their platform launch. The fast-growing company currently offers its North American customers more than 5,000 plant-based products. Partnerships with top nutritionists, chefs, and brands continue to drive revenue and brand awareness.
Investors are optimistic about the near future of PlantX shares as the stock has broken the falling short-term trend. As shares broke the current resistance point of $0.15 in early February, a new resistance level of $0.21 has been predicted. The 3 month Moving Average Convergence Divergence (MACD) indicates a recommendation of buy for some analysts.
PlantX Life Inc. shares have a volume of 35,390, on February 8, 2022, and a 52-week range of $0.10 to $1.21. With a market cap of 19.48 million, PlantX shows an opportunity for a steady increase in 2022.
PlantX Life Inc. has proven growth and success in a short time. The company has established partnerships with celebrity chefs and brand ambassadors, like Matthew Kenney, Justin Fields, and Venus Williams. Another key to massive revenue growth recently seen at the company is the listing of PlantX products on thebay.com and Walmart.ca.
It is not common to see stocks that boast such a fair share valuation with celebrity backings and that are listed with national retailers. At $0.16 on February 8, 2022, shares are back above the former resistant point of $0.15 with no indication of decline.
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