Yesterday Farmhouse Inc (OTCMKTS:FMHS) saw its stock trading in a range but at the same time it is perhaps important to note that the company in the news as well and it may be a good idea to take a look into it. The company boasts of a number of cannabis related business units and also has a portfolio of intellectual properties.
Market Action
On Monday, FMHS stock ended flat at $0.5210 with 100 shares, compared to its average volume of 48 shares. The stock moved within a range of $0.5210 – 0.5210 after opening trade at $0.5210.
Farmhouse Announces Launch Of Super Strains, A Cannabis Focused NFT Experience
Yesterday, the company was in the news after it announced the launch of its new cannabis related non-fungible token or NFT project named Super Strains. It is going to allow the holders of an NFT to put their digital cannabis plant on display on the metaverse.
Initially the company is going to launch as many as 42,000 digital cannabis plants, all of which are going to be unique in nature. It was a major new announcement from the company considering the fact that NFTs have turned into one of the more lucrative digital assets over the course of the past year or so.
Farmhouse getting into the same space could well prove to be a boost for the company in the long run. At this point it remains to be seen how investors react to the news.
Key Quote
“While there are notable cannabis NFT projects, Super Strains provides a realistic metaverse ready cannabis plant and leverages the Farmhouse network of over 5,000 cannabis professionals to provide exclusive cannabis content for holders,” CEO and Co-Founder, Evan Horowitz.
Traders Note
FMHS stock is trading above the 20-Day and 50-Day Moving averages of $0.066 and $0.72 respectively. Moreover, the stock is trading is the oversold zone with RSI stands at 20.
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