(CRPGF) was a company we began to follow during the summer and we recently picked up on it as our newest Connect The Dots featured company. The pending deal with X-Sprays and further expansion of that brand in places like Colorado have helped to spark a real run. (CRPGF) has managed to make a move to highs of $1.98.
During the last few weeks, the company has been a bit quieter and trading has been relatively sideways but the uptick in momentum over the last few days could be a key indicator for new potential with this company. Today’s announcement could quickly trigger the next page in this developing story. Here’s why:
The Distributor has a 10-year history and multiple existing retail channels, including pharmacies, drug stores and a robust online presence. But Germany could be a huge opporutntiyt for (CRPGF), which is in addition to what has already been announced.
With a population exceeding 82 million people and federal insurance coverage for cannabis, Germany represents the world’s largest legal cannabis market…that’s right. North America certainly has the spotlight but when you talk about a Global Scale, the exposure goes far beyond the US and Canada. Germany is home to Europe’s largest medical marijuana market, according to a recent report on the European cannabis industry.
As far as real, near-term opportunity, (CRPGF) said it themselves, it “will begin shipping products to the Distributor in early Q1-2018, pending necessary approvals.” In the mean time, X-Sprays has launched a test market for 3 months for two of its products with a group of Denver, Colorado based medical and recreational marijuana dispensaries.
In our opinion, the framework is being set up and now that the market’s open for business, the only question that is being asked right now is “What’s coming next?” So far, (CRPGF) has rallied by as much as 38% from around $0.65 just before Thanksgiving to $0.90 on the last day of November.
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