The marijuana stock market has undoubtedly been dominated by companies that grow the substance. These companies have been able to scale up their operations to begin producing marijuana in the hundreds of thousands of kilograms per year. With this scale however can sometimes come with a loss of quality, but this is not across the board.
Some companies have managed to keep their quality very high while still working to produce more and more weed. As the demand for the substance and lower prices rise across the board, the industry is continuing to shift in the grower’s favor.
Next Green Wave (NXGWF) (NGW) is one of the leading vertically integrated producers of high-quality cannabis. The company has been making headlines for both their vertical model as well as the high grade of the marijuana that they are able to produce. Next Green Wave has been working in a facility based in the city of Coalinga, CA. Coalinga is centered right between Los Angeles and San Francisco which positions them perfectly to take advantage of the largest statewide marijuana market in the country.
The company has been working to get all of the steps finished to begin production out of their latest 35,000 square foot facility. Next Green Wave has been waiting on a small series of electrical work the would effectively allow them to have all the necessary power to produce large quantities of indoor grown cannabis.
Recently, Next Green Wave announced that they have completed the electrical installation and connection tot he power grid in Coalinga. This is a major milestone as they have been working on getting this newest facility up and running for some time now. In addition to the 35,000 square foot area, they also now have access to seven lots which spread across 15 acres in the same location.
This should allow them to expand quite rapidly if they choose to do so in the near future. Leigh Hughes, CEO of Next Green Wave stated that “we are now in the very final stage of being approved to begin cannabis production. The construction of our facility has been underway for nearly one year and it is extremely rewarding to see this facility operational and ready to bring premium cannabis products into the California market in 2019.”
CannTrust Holdings (NYSE:CTST) is a cannabis producer that recently listed on the New York Stock Exchange. The company did report slightly lower than anticipated fourth quarter results, but since that time they have been working to regain their prior value. The company still did report as much as 132% year-over-year sales growth which is quite large and something that only looks to continue growing as the demand in the market does so as well.
CannTrust Holdings has been working to put out new recreational cannabis brands which would effectively allow them to delve deeper into that side of the market. Their listing on such a large exchange has also helped to bring in some much-needed notoriety and capital. All in all, CannTrsut is an interesting play for the future of the marijuana market.
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