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NOHO Stock Could See A Boost On Merger News

Novation Holdings, Inc. (OTC: NOHO) stock has been gaining renewed traction among investors as the company released a letter of intent to acquire Legends of Hemp and TerraVida CBD. Recently, NOHO emerged as a “multi-strategy holding company” with a focus on developing, acquiring, and bringing market technologies and solutions across a variety of market sectors. To do that, NOHO’s business objective has been to “either start up new business opportunities or acquire existing businesses”. In light of this mission, investors are eagerly waiting confirmation on merger news.

NOHO Stock News

The company’s new business direction is already looking promising because of NOHO’s CEO Mechael Gelmon. Known for his experience with publicly traded companies as well as turnarounds for various public and private companies, Gelmon is well-equipped to facilitate a profitable merger for NOHO. Over the course of his work, Gelmon has assisted investment groups in structuring and restructuring companies’ debt as well as conducting due diligence on target companies. Given his history of leading companies to growth, investors are bullish on NOHO’s upcoming merger.

To prepare, the company is currently in the process of conducting a two year audit of its financial statements as it focuses on uplisting to the OTCQB. Gelmon believes that “listing on the OTCQB will vastly improve our liquidity potential by expanding the universe of our potential investors”. To deliver on that, NOHO recently retained Carren Currier – the OTC’s merger guru – as a consultant to help them with the audit, uplisting plans as well as the overall merger process.

In light of these efforts, the company recently executed a Letter of Intent to acquire both Legends of Hemp LLC and TerraVida CBD. Bringing experience in the cannabis and entertainment industry, Legend of Hemps will allow NOHO to create a platform where influencers can launch and sell their own hemp-derived products. To complement this, TerraVida CBD – a manufacturer, wholesaler and online retailer of natural high quality CBD products – is another acquisition that could help position NOHO as a leader in the industry. Afterall, with its solid portfolio of topicals and skincare, the company is dedicated to providing safe and effective products that follow the FDA’s industry guidelines.

Given that NOHO has previously launched a number of successful CBD brands for various up and coming artists, Gelmon is bullish the company has “the right platform, capabilities, and marketing formula to both grow their existing brands and scale additional CBD brands in the future”. In fact, by utilizing Legend of Hemp’s internal manufacturing capabilities and strategic partner relations along with Terravida’s prominent portfolio of products – NOHO could be well-positioned to capitalize on the growing demand for hemp-derived CBD products.

According to the terms of the LOI, NOHO intends to acquire all outstanding ownership interests of both companies in exchange for NOHO’s common stock shares. With this in mind, NOHO plans to assist in the growth, financing and development of both companies by appointing some of Legend of Hemp’s and Terravida’s key management on the company’s BOD.

In this way, Ryan Puddy – Legends of Hemp’s CEO – is excited to ”combine resources and mastermind a strategy to keep an exciting and competitive edge in this industry”. He is bullish on this partnership with a belief that NOHO embodies “true and proven professionalism in the areas that synergistically complements our proven concepts and the foundation we have built.” With this in mind, Gelmon is looking forward to “supporting the companies’ strategic goals, marketing initiatives, and future brand growth and development”.

This potential acquisition is only the beginning of NOHO’s business redirection. After finalizing the ongoing acquisition, NOHO has reiterated its intention to undergo multiple mergers and acquisitions throughout the year. Even though its is currently operating at a loss, the company is already seeing significant improvement from its previous quarter. In fact, the recent quarterly filings reported a net loss of only $41,190 – down from a massive net loss of $232,707 in the previous quarter.

This advancement could be the result of NOHO’s new strategy – which does not limit the company’s acquisitions or investments to “any particular industry or geographic region”. In light of this, investors are bullish the company could capitalize on several lucrative industries and position itself for further growth in the upcoming quarters.

Media Sentiment

Following an announcement from the company, @WhalePenny is bullish on NOHO stock with a belief that merger news are imminent.

Technical Analysis

NOHO stock Chart

NOHO stock is currently trading at $.0005with an immediate support at .0004. The stock shows a primary resistance at .0007 and a stronger resistance at .0008. Accumulation is seeing an uptick following a steep downward trend and the RSI is holding at 45. Meanwhile, the MACD is bearish but could be heading for a reversal soon.

These indicators reflect investor’s bullish sentiment for NOHO in 2022. With acquisitions lined up, investors are accumulating more shares of NOHO at its dip price before confirmed merger news sends the stock on a run well beyond its resistance. Now that the RSI is cooling off, NOHO stock is stable, cheap and shows great potential – making now a good entry point for investors bullish on the growth of the cannabis industry.

NOHO Stock Forecast

NOHO’s new business direction could bring major growth for the company. The anticipated acquisition deal is positioned to generate a stronger balance sheet and increased shareholder value. With the acquisition deal in the works, investors are bullish that a PR could be a major catalyst for NOHO stock. Given its solid management and OTCQB uplisting plans, NOHO stock could be a profitable investment in 2022. 

After being dormant for 4 years, NOHO could test new highs as it continues to research new investment opportunities and lines up multiple acquisitions. While the stock shows low volume at the moment, if momentum picks up on merger news then NOHO stock may spike past its resistance and reach $.0011 sooner than expected.

If you have questions about NOHO stock and where it could be heading next feel free to reach out to us in our free alerts room!


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