The industry that is working on producing various edibles and concentrates for sale in the marijuana stock market has been proving itself to be worth a second look throughout the space. Any companies have been innovating to create new and groundbreaking products to help with everything from pain reduction to inflammation. Of course, these products are also being used for recreational purposes, but it is clear that there are many benefits to these new ideas hitting the market.
We have seen that some companies in the industry are turning to partnerships to help broaden their expertise on the products that they are putting out, and these partnerships are helping to illustrate the future of cannabis.
Global Consortium Inc. (GCGX) is a company that is working on creating new partnerships to produce and sell edibles and infused cannabinoids on the open market. The company recently announced that they would be entering into a letter of intent with MJ Munchies Inc. The agreement would allow Global Consortium to be able to produce marijuana and CBD-infused products under the Half Baked name, which is owned by MJ Munchies.
The CEO of Global Consotium, Matt Dwyer recently stated that “with the Half-Baked name, it will simply be easier to attract new consumers at the critical point of purchase. We’ve already got an amazingly broad line of fast-selling products, but we see value in having the rights to Half-Baked as we work towards our goal of building a leading brand on the national stage.”
Global Consortium has stated that they have over $600,000 in sales for the quarter ending on September 30th of last year. Within this, they have sold as much as $2 million in CBD products alone for the whole of the 2018 year. This number helps to illustrate just how popular these substances are becoming under the headline of cannabis.
The CEO of MJ Munchies, Sean Folkson stated further that “we’re excited to work with a company that shares our vision for national awareness and distribution. They have a track record of success in manufacturing and distributing a varied line of products that succeed at retail. We’ve been working on this for some time, which is why we have not been commenting publicly about the MJ Munchies side of our company.” This partnership only continues to show why cohabitation in the marijuana space is important for the future of growth.
Canopy Growth (NYSE:CGC) is one of the companies that has been leading the charge in the production of edibles. After receiving an infusion of capital worth around $4 billion, the company has shown that they are working to produce a new line of beverages that are infused with cannabis. These beverages which are a product of their partnership with Constellation Brands (NYSE:STZ), should help to fill the market with a new and high in demand product that can be used across the industry.
As the next few years continue to move in full swing, the hopes are that these companies leading innovation for edibles and new products, will continue to illustrate just how important they are to the overall market.
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