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Posted On: 04/09/2020 3:57:38 PM
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NetworkNewsBreaks – Cannabis Strategic Ventures, Inc. (NUGS) Sells Approximately 900 Pounds of Cannabis Products Amidst Coronavirus Outbreak and End of Dry Season
Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. and California cannabis marketplaces, today announced the sale of approximately 900 pounds of cannabis product from its core cultivation facility, NUGS Farm. According to CannabisBenchmarks.com, the average price of cannabis flower in the U.S. market was $1,588 per pound as of April 3, with prices moving higher over recent weeks. “We believe there are two factors driving cannabis prices higher right now,” Cannabis Strategic Ventures CEO Simon Yu said in the news release. “First, people are reacting to the coronavirus epidemic, which is producing anxiety and an instinct to hoard necessary goods. For many people, that includes cannabis. This is particularly true for those with medical marijuana prescriptions. Second, we are moving toward the end of the dry season, so supply is tapering out of the market as outdoor producers wind down inventories ahead of the new planting season. We are clearly benefitting from both of these dynamics right now, which should continue to drive performance over coming months.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Cannabis Strategic Ventures (OTCQB: NUGS), an emerging leader in the U.S. and California cannabis marketplaces, today announced the sale of approximately 900 pounds of cannabis product from its core cultivation facility, NUGS Farm. According to CannabisBenchmarks.com, the average price of cannabis flower in the U.S. market was $1,588 per pound as of April 3, with prices moving higher over recent weeks. “We believe there are two factors driving cannabis prices higher right now,” Cannabis Strategic Ventures CEO Simon Yu said in the news release. “First, people are reacting to the coronavirus epidemic, which is producing anxiety and an instinct to hoard necessary goods. For many people, that includes cannabis. This is particularly true for those with medical marijuana prescriptions. Second, we are moving toward the end of the dry season, so supply is tapering out of the market as outdoor producers wind down inventories ahead of the new planting season. We are clearly benefitting from both of these dynamics right now, which should continue to drive performance over coming months.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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