The growth of the hemp sector is having a beneficial effect for both hemp companies and hydroponic suppliers.
- The growth of hemp more than doubled in the United States last year
- More companies are moving to produce hemp, causing a surge in demand for cultivation and hydroponic supplies
- Shortages are particularly acute relative to the hemp micropropagation and hemp cloning supplies as the spring planting season looms
Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile) via its pending acquisitions is poised to accelerate its growth rate as a result of this hemp cultivation boom, along with other leading companies. Tilray Inc. (NASDAQ: TLRY) has been expanding through the acquisition of other companies and a move into Europe, with a successful harvest in Portugal. Canopy Growth Corp. (NYSE: CGC) (TSX: WEED) is using outside investment to expand from Canada to New York and to develop CBD-infused drinks. Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has also seen substantial outside investment thanks to growing faith in hemp. Aphria Inc. (NYSE: APHA) (TSX: APHA) has even faced a hostile takeover attempt as some companies look for ways to force their way into greater influence over a growing sector.
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About Sugarmade, Inc.
Sugarmade, Inc. is a product and brand marketing company investing in products and brands with disruptive potential. Sugarmade’s brands include BizRight, LLC, Athena United, CarryOutSupplies.com, and BudLife Cannabis Storage Solutions. For more information, visit the company’s website at www.Sugarmade.com.
NOTE TO INVESTORS: The latest news and updates relating to SGMD are available in the company’s newsroom at www.cnw.fm/SUGAR
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