Cannabis Strategic Ventures (OTCMKTS:NUGS) Stock Attempts To Rebound: Now What?
Shares of Cannabis Strategic Ventures (OTCMKTS:NUGS) ended higher in Tuesday’s trading session after the recent fall.
Market Action:
On Tuesday, NUGS stock gained 4.65% at $0.0450 with more than 1.29 million shares, compared to its average volume of 884.44K shares. The stock has moved within a range of $0.0410 – 0.0495 after opening the trade at $0.0495.
NUGS to Take Full Operational Control of Downtown LA Cannabis Dispensary
Emerging leader in U.S cannabis marketplace, Cannabis Strategic Ventures (OTCMKTS:NUGS), on October 26, 2021 announced that the firm will be taking complete operational control of downtown Los Angeles “MDRN Tree” cannabis product dispensary. This will be the first in-house end-market consumer-facing retail sales outlet.
Cannabis Strategic Ventures will commence recording sales on the books starting November 2021.
CEO of NUGS, Simon Yu said that the company continues building a complete farm-to-sale vertical model and MDRN Tree is a large part of the vision.
Yu said that it is incredible to watching a number of things coming together and is keen on supplying and growing MDRN Tree brand as well as continuing on developing model giving cultivation business a bigger reach with higher margins.
The management is of the view that NUGS is working consistently with operations and accounting team for ensuring smoother transition. The dispensary will be representing implementation of the firm’s recent acquisition of California cannabis licenses.
Cannabis Strategic Ventures is a leading publicly traded marijuana cultivators in the country and incubates as well as partners with category leaders within ancillary and cannabis sectors. Its experience gives financial and operational partnerships as well as range of range of essential services existing as well as emerging cannabis consumer brands.
Key Quote:
“We continue to build a full farm-to-sale vertical model, and MDRN Tree is a big part of that vision,” noted Simon Yu, CEO of NUGS. “It’s exciting to watch the pieces come together, and we look forward to supplying and growing the MDRN Tree brand, and continuing to develop a model that will give our cultivation business wider distribution at potentially higher margins.”
