PALM BEACH, Florida, September 12, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The multi-billion dollar CBD industry continues to display strong characteristics that is showing no signs of slowing down and is more pointing towards continued growth. CBD, known as the extract of cannabis that doesn't contain psychoactive properties, has been developed into numerous products ranging from human healthcare to pet products. According to the Hemp Business journal, CBD became a billion dollar industry in 2017 and is expected to continue rising higher into the billions in revenue. As the growth continues, so too does the opportunity for investment in the active CBD space. Active Companies from around the market with current developments this week include: Sugarmade, Inc. (OTC: SGMD), Cannabis Strategic Ventures (OTC: NUGS), General Cannabis Corp. (OTC: CANN), Cronos Group Inc. (NASDAQ: CRON) (TSX:CRON), KushCo Holdings Inc. (OTC: KSHB).
Sugarmade, Inc. (OTCPK:SGMD) BREAKING NEWS: Sugarmade, one of the largest publicly traded hydroponics supply companies, today announced SeeThruEquity has initiated coverage on the Company with a price target of $0.30, with the reporting adding, "Sugarmade appears well-positioned to target the large and growing opportunity to supply hydroponics equipment and supplies to the legal cultivation market in the United States through its master marketing agreement with BizRight."
Jimmy Chan, CEO of Sugarmade commented, "Having Sugarmade highlighted by SeeThruEquity is important to this management team. Over the past two years, Sugarmade has almost completely restructured. We have entered one of the fast growing sectors of the American economy, reduced debt levels, added a significant number of personnel, moved our headquarters, and most importantly, positioned our Company for substantial growth. Based on our growth rates, we now believe our $30 million revenue guidance for next year is very conservative. We welcome SeeThruEquity's research coverage and look forward to supplying its analyst a steady stream of news on high quality developments regarding our progress.
SeeThruEquity analysts have placed a price target on Sugarmade common shares at $0.30, which represents a potential upside of 130.8% from the recent price of $0.13 on September 3, 2018. In the report, the firm further outlines expectations for the market in the 29 US states where regulations and laws have been relaxed. The outlook is impressive with the market expected to grow from $9.2 billion in 2017 to $47.3 billion by 2027. The report can be viewed at http://www.seethruequity.com .
Mr. Chan continued, "We share SeeThruEquity's view of our chosen marketplace. We see continued growth in the states that have already opened up to legalization and additional growth as the remaining states and Europe relax regulations."Read this and more news for Sugarmade at http://www.marketnewsupdates.com/news/sgmd.html
In the industry developments and happenings in the market this week include:
Cannabis Strategic Ventures (OTCPK:NUGS) closed up slightly on Tuesday at $4.3615. Last week, the company announced an increased commitment to cannabis sector brands and innovators through the development of a proprietary branding and partnership model for the fast-growing Industry. Over the coming months, the Company will continue to develop multiple proprietary brands as its primary investment focus. The Firm will continue enhancing its infrastructure, product sourcing, communication and content support offerings. In addition, Cannabis Strategic Ventures' unique partnership agreements allow the Firm to continue providing partner brands mentorship, financial, operational and strategic resources to help brands grow and scale. Cannabis Strategic has recently taken strong steps toward implementing this brand forward strategy with agreements with Asher House LLC for the Asher House Pet CBD product line, the acquisition of Fitamins CBD brand, which has access to a network of more than 600 wholesalers, beginning production of the patented Halo Filter, and entry into cannabis extraction with one of the industry's leaders, Sunniva, Inc. Management at Cannabis Strategic plans several other similar brand-related agreements over the coming months.
General Cannabis Corp. (OTCQX:CANN) closed up 23.03% on Tuesday at $4.06 with more than 1.6 million shares traded by the market close. Last week, the company announced it is opening a New York office as the cannabis business services provider looks to expand its presence on the East Coast. "Given our growing list of East Coast clients and the steps that states like Massachusetts and New Jersey have taken toward launching adult-use sales, this is the ideal time for General Cannabis to further invest and establish itself in the region," said Executive Chairman Michael Feinsod. General Cannabis specializes in cultivation management, business development, marketing and apparel, operations consulting, security and capital solutions for clients.
Cronos Group Inc. (NASDAQ: CRON) (TSX:CRON) and Ginkgo Bioworkds recently announced a landmark partnership to produce cultured cannabinoids. Using its platform technology for organism design and development, Ginkgo will complement Cronos Group's technologies for producing a full spectrum of cannabinoids. As part of this unprecedented deal, Cronos Group has agreed to issue a specific number of common shares in tranches subject to Ginkgo's achievement of certain production milestones. As two of the leading companies in their respective industries, Cronos Group and Ginkgo believe that they are best-suited to unlock the potential of innovation in the cannabis industry. Cronos Group brings a deep understanding of the plant's biological structure and function, while Ginkgo brings 10 years of experience designing microorganisms for the production of cultured products across pharmaceuticals, agriculture, flavors, fragrances, and more.
KushCo Holdings Inc. (OTCQB:KSHB) recently announced it has opened a new warehouse facility in Worcester, Massachusetts to serve as the Company's east coast hub and to support businesses entering the industry or expanding operations within the east coast market. Strategically located outside of metro Boston, in Worcester, the new warehouse represents the largest facility operated by the Company to date. The new facility positions Kush Bottles as the market leader in providing ancillary solutions for the medical and adult-use states in the region, and stands ready to scale accordingly as more states transition from medical to adult-use. With the 66,000 square foot facility, Kush Bottles expects the new warehouse to minimize the time taken to receive and distribute packaging and supplies, streamline its logistics and have enough storage space for high-demand products with rapid turnover times, thereby ensuring the highest quality and service to clients in the region. With states like Maine, Maryland, Rhode Island, Vermont, New Jersey, New York, and Pennsylvania slowly following Massachusetts lead, we believe the new warehouse will allow the Company to grow with the ever expanding cannabis market up and down the eastern seaboard.
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