Jason Williams, contributing editor to The Wealth Advisory, picked EVIO, Inc. (EVIO) as his top high-risk speculation for 2019. The stock has since risen 19%. Here's his update on the cannabis-related stock.
EVIO Inc. is a pick and shovel play on the growing legal cannabis industry in the U.S. But instead of financing, it provides testing services for the cannabis industry in legal U.S. markets and in Canada.
It’s got more labs than any other company. It’s expanding into three new markets as I type. And it’s the only publicly traded cannabis testing operation.
It’s set up to grow exponentially with the next step in cannabis legalization. And being the only publicly traded investment in the market means investors will send shares skyward as soon as they realize the profit potential of this untapped corner of the cannabis sector.
I call EVIO speculative primarily because of the company's size. Despite being the largest cannabis testing operation in the country, it’s still a small company and a penny stock. That means it can swing wildly.
The company has had trouble getting financial reports audited and submitted to the SEC. And that’s kept a lid on the share price this year. But once those reports are released, I expect to see this one double in a very short time.
