Surging hemp market growth has created huge demand for hydroponic supplies.
- Demand for CBD is driving a rise in hemp cultivation, much of which is done indoors using hydroponic equipment.
- This hydroponic approach allows greater quality control over the cultivation process and the hemp.
- Acquisitions and expansion are needed for hydroponic companies to keep up with demand.
Hydroponic supplier Sugarmade Inc. (OTCQB: SGMD) (SGMD Profile) has been making swift moves to deal with this demand, acquiring other supply companies and outlets. Canadian company Tilray Inc. (NASDAQ: TLRY) has acquired the world’s largest hemp foods company, giving it a strong position in a customer-facing part of the sector. Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) has set up a new hemp extraction and product manufacturing facility in New York state. Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has received a large boost in investment thanks to interest in the surrounding sector, providing fuel for future growth. Aphria (NYSE: APHA) (TSX: APHA) is looking beyond North America, with the acquisition of a European distributor.
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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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