Sugarmade Has it Made with Savvy Investments

Sugarmade Has it Made with Savvy Investments

By: Dylan Sikes – News

Tuesday, December 4, 2018

Bold news is taking place these days in the cannabis industry, and a number of firms are reaping the benefits.

Tuesday, Sugarmade Inc (OTC:SGMD) was cited as having made the most of this opportunity through investment in Hempistry, a hemp cultivator with big plans for expansion. The popularity of cannabidiol (CBD) products means that hemp may soon surpass the value of other cannabis products, which is providing strong profits for companies such as Tilray, Inc. (NASDAQ: TLRY).

This popularity will likely to lead to growth in the food and beverage industry, one reason why Canopy Growth Corp. (NYSE: CGC) has received substantial investment from that sector.

Recent legal changes on both sides of the border have enabled companies such as Sugarmade to execute its ambitious plans to support cannabis cultivation. The company is one of the largest publicly traded hydroponics supply companies, with brands that include Zen Hydro, Carry Out Supplies, BudLife Cannabis Storage Solutions and Cali Grown Supplies.

The firm’s stock climbed 39-100ths of a cent, or 4.3%, to 9.39 cents by noon ET, on Tuesday, on volume of more than 558,000 shares. 

Copyright © 2018 All rights reserved. Republication or redistribution of's content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Other Penny Stock Movers

Pot Stock Recovery? This One Jumped on Friday
Noram Hails Upcoming Nevada Projects, Stocks Travel Higher
Tech Shares Lead Charge Out of Monday-Tuesday Gully
Two Cannabis Firms in Spotlight During Gloomy Week for Stocks

Back to Top