DrazCanna, Inc. (OTC: SIBED) could be on its way to becoming one of the marijuana stocks 2022 to watch after venturing into the growing marijuana biopharma industry. After announcing its new direction, SIBED stock surged roughly 400% thanks in part to the Senate’s unanimous approval of the Marijuana Reform Bill and the House’s 220 to 204 vote in favor of legalizing marijuana nationwide. With an LOI signed for its reverse merger, SIBED is entering into the hot marijuana market at a pivotal time.
SIBED Stock News
Formerly known as Sibling Group Holding, SIBED filed an application with FINRA for a name change and 1 for 24 reverse split last November which has since been processed. With the Senate unanimously passing the Cannabidiol and Marijuana Research Expansion Act to promote cannabis research, the marijuana biopharma industry has the potential to soar.
Through this bill, researchers will be able to conduct studies on cannabis and the FDA will help encourage the development of cannabis based medicines. Additionally, doctors will be allowed to discuss the benefits and risks of marijuana with patients while the Department of Health and Human Services provides reports on the benefits of marijuana as well as the obstacles facing marijuana research.
With this in mind, SIBED’s new management believes the bill will remove the vagueness surrounding cannabis’ designation as a Schedule 1 narcotic with no medical use and the FDA’s approval of Epidiolex – a treatment for seizures. As these barriers are removed, SIBED’s President Hussein Anani is bullish that the nation will be ready to embrace biopharma’s research and development of cannabis based medicines. In light of this, SIBED is well-positioned to take advantage of the opportunity presented by this legislation which will significantly reduce costs and research requirements.
Seizing the moment, SIBED is entering the marijuana biopharma industry through a reverse merger with DrazCanna, Inc. – a Michigan based corporation with an algorithm for cannabis cultivation and strain development. This LOI is the company’s “next step in the entrepreneurial journey” according to its President Anani who is eager to build on the team’s six-year Bio-pharmaceutical developmental history.
Moreover, SIBED added Gina Szpak – a founding team member of DrazCanna – to its team which plans to utilize DrazCanna’s data-driven approach to the cultivation process. This process is based on the Dutch ‘Growing by Plant Empowerment’ which was improved further using Drazcanna’s Nutrient Optimizer Algorithm. Over the course of their research, DrazCanna developed a process for female to female strain development which can provide a basis for research opportunities beyond traditional male to female strain development via seed.
This approach provides the team with accurate measurements of cannabis health four times per day – helping the team maximize cannabis health during indoor cultivation through nutrient adjustments. Utilizing this approach will help SIBED gain market share in the marijuana biopharma industry which is expected to reach $127 billion by 2028.
As SIBED had a 1 to 24 split on March 25th, its share structure on its OTCM profile has yet to be updated and currently shows an AS of 500 million and an OS of 9.5 million – however some investors believe its float is close to one million shares. In light of this, SIBED could be one of the marijuana stocks 2022 to watch for a run on positive news.
Media Sentiment
@ChaseMacTrades is bullish SIBED will pay off as the company develops itself further
Technical Analysis
Following its run up, SIBED is trading at $.16 and shows a main resistance at .289 and a support at .1314. Accumulation dropped steeply following the run and the MACD is bearish. The RSI is holding at 44.
SIBED ran roughly 400% on the announcement of its reverse merger with DrazCanna and considering SIBED’s low float, the stock could see a second run once the merger is finalized. While the stock is moving on very low volume at the moment – 5.8 thousand compared to its average of 110 thousand – it could see a similar run up once news brings volume to the stock.
SIBED Stock Forecast
After an impressive 400% run, SIBED has emerged as one of the marijuana stocks 2022 to watch as the company ventures further into the marijuana biopharma industry. After the passage of the Cannabidiol and Marijuana Research Expansion Act, the Senate’s unanimous approval of the Marijuana Reform Bill, and the House’s 220 to 204 vote in favor of legalizing marijuana nationwide, the time is ripe for marijuana stocks like SIBED to grow in the expanding market.
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