Today Is 420 ‘National Pot Day’ Celebrating The Legal CBD Industry, Which Is Boom-ing In Stock Exchanges And M&A Activity
Today (April 20, 2020) is 420 ‘National Pot Day’ celebrating the legal CBD and cannabis industry — which is booming in stock exchanges internationally and by both acquisition and organic growth. CBD is now mainstream, commercialized and medical marijuana is legal in 36 states and the District of Columbia. Full legalization is in 11 states, including recreational marijuana. CBD stocks are surging as M&A activity is increasing within the industry and attracting mainstream companies as well.
The CBD market has drawn intense interest from media companies. stockmarketpress.com features specialized coverage of CBD related stocks such as Sun Kissed Industries, Inc. (OTC: SKDI), Canopy Growth Corp. (NYSE: CGC), New Age Beverages Corp. (NASDAQ: NBEV), CBD Unlimited, Inc. (OTC PINK: EDXC), GW Pharmaceuticals PLC (NASDAQ: GWPH), Neptune Wellness Solutions Inc. (NASDAQ: NEPT) (TSX: NEPT). Aurora Cannabis Inc. (NYSE:ACB) (TSX: ACB), Supreme Cannabis Co. (OTC: SPRWF) and OrganiGram Holdings Inc. (NASDAQ: OGI).
Today Is 420 ‘National Pot Day’ Celebrating The Legal CBD Industry, Which Is Booming In Stock Exchanges And Acquisitions
The Brightfield Group projects that the CBD industry in the U.S. will reach $23.7 billion by 2023 and Arcview Market Research thinks it will hit $20+ billion in America by 2024. Take your pick, both these forecasts are optimistic that the CBD industry will generate double-digit CAGR increases as the industry goes nationally legal and appears on store shelves from Dillard’s to Walgreen’s. 420 ‘National Pot Day’ is a celebration of the success of marijuana, cannabis and CBD and its growing legality.
Shelter-in-place orders will mean home-bound parties rather than large outdoor events — but the CBD industry is growing. How 420 grew to slang for ‘pot’ is uncertain, but the predominant story is that a group of five students in California who chose to meet at 4:20 p.m. and partake. 420, then, became code for marijuana. Either way, the CBD industry and CBD stocks are exploding as the industry grows. Today is 420 ‘National Pot Day’ celebrating the legal CBD industry, which is booming in stock exchanges and acquisitions.
Sun Kissed Industries, Inc.’s (OTC: SKDI) acquires Hakuna As Part Of Quick Paced M&A Activity In Industry
Recent M&A activity in the CBD industry includes the move by Sun Kissed Industries, Inc. (OTC: SKDI) to acquire Products Group Inc.DBA/Hakuna Supply, a well established retail CBD company. In an all-stock deal, Hakuna is now a wholly-owned subsidiary of Sun Kissed Industries, Inc. (OTC: SKDI). Charlotte’s Web (NASDAQ: CWBHF), marketer of hemp-derived CBD products, bought Abacus Health Products (CSE: ABCS), a leader in OTC hemp extract topicals. It will result in a new entity with an estimated $190 million in sales in 2020 and a market cap of some $450 million.
Mainstream firm Colgate Palmolive (NYSE: CL) acquired Hello Products and its line of oral hygiene products — CBD-infused toothpastes, toothbrushes, mouthwashes and lip balms. Its entry into CBD-infused product in the oral hygiene area raises the profile of CBD on the shelf. PepsiCo (NASDAQ: PEP) is buying Rockstar Energy Drink to solidify its place in the functional beverage market. Today is 420 ‘National Pot Day’ celebrating the legal CBD industry, which is booming in stock exchanges and acquisitions.
Sun Kissed Industries, Inc. (OTC: SKDI) Announced Today 300%-500% CBD Product Output Growth By Subsidiary Hakuna
Sun Kissed Industries, Inc. (OTC: SKDI) announced today (April 20, 2020) that its recently acquired Hakuna subsidiary has boosted its CBD product output by 300-500% with more expansion capabilities and new equipment installed in its Clean Room. The wholly owned Products Group Inc. DBA/Hakuna Supply has grown its Nespresso Capsule production from 2,000 to 10,000 a day. It has grown its Bagged Coffee filling production by 500% daily, driven by a new Bagged Coffee filling machine. Hakuna’s online sales during the COVID-19 lockdowns have grown 30% while Clean Room cost of goods sold are expected to drop some 30% on a per unit basis, it said.
Sun Kissed Industries, Inc.’s (OTC: SKDI) Hakuna Subsidiary Sees Monthly, Yearly Gains Across All Online Product Lines
The newly expanded Clean Room of Hakuna went into full operation in April with a new capacity to produce single serve instant coffee pouches. The new Clean Room facility has new equipment, increased marketing investments and more output capacity. It is equipped with a new industrial mixer, a Nespresso Capsule filling machine and a Bagged Coffee filling machine. Sun Kissed Industries, Inc.’s (OTC: SKDI) Hakuna Subsidiary Boosts Output By 300%-500% With Clean Room Expansion. Today is 420 ‘National Pot Day’ celebrating the legal CBD industry, which is booming in stock exchanges and acquisitions.
Sun Kissed Industries, Inc. (OTC: SKDI), Hakuna Supply Sees Decreased Order-To-Shipment Time Frames
Ilan Freeman, Hakuna CEO, said, “The results of our hardworking team have resulted in significantly increased output across all our product lines and decreased order-to-shipment time frames. In addition, we have seen demand increase over the past couple of months ahead of our expanded marketing efforts.”
Sun Kissed Industries, Inc.’s (OTC: SKDI) Hakuna Subsidiary Participates In Expanding CBD-Infused Market, Forecast To Reach $1.4 billion By 2023
Sun Kissed Industries, Inc.’s (OTC: SKDI) Hakuna Subsidiary has a significant distribution footprint including more than 110 established retail distribution partners across greater than 20 states. Based in California, Hakuna participates in a CBD-infused drinks market forecast to reach $1.4 billion by 2023, according to research firm Zenith Global. Sun Kissed Industries, Inc.’s (OTC: SKDI) Hakuna Subsidiary Boosts CBD Product Output By 300%-500% With Clean Room Expansion.
The debut of Hakuna Supply’s expanded Clean Room has gone into operation this month. The company’s online sales have jumped by 30% since the COVID-19 lockdowns, the company said. Its cost of goods are expected to drop some 30% for the company on a per unit basis following the installation of its new equipment and expansion.
Sun Kissed Industries, Inc. (OTC: SKDI) Closes On Hakuna Acquisition In February 2020
Sun Kissed Industries, Inc. (OTC: SKDI) acquired the issued and outstanding shares of Hakuna in a definitive stock purchase agreement in February 2020. It sells products including premium CBD coffee, CBD tea, CBD Drink Drops, CBD Gummies and CBD Flower product markets. The firm is currently nominated “Best Hemp-Derived CBD Product” by the California Cannabis Awards and won the DOPE Magazine Best New Product award for Southern California in the non-cannabis/non-tech category in 2017. It just won ‘Runner Up” at the Los Angeles Coffee & Donut Festival People’s Choice Coffee Awards for 2019.
Sun Kissed Industries, Inc. (OTC: SKDI) is an emerging leader in the CBD-based products market. It is pursuing technology acquisitions in an aggressive M&A strategy. It seeks to become a dominant player within a high-growth niche within the fast-growing CBD sector.
Source: Stock Market Press
Join Stock Market Press’ newsletter for the latest in IPO, market commentary and company profiles.
Stock Market Press is a financial news company that delivers up to date stock news, introduces private and public companies to a wide audience of investors, consumers, journalists and the general public via social media and a rapidly expanding network.
Stock Market Press
110 Wall St.
New York, NY 10005 email@example.com Safe Harbor Statement:
Statements in this news release may be ”forward-looking statements.” Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and are likely to, differ materially from what is expressed or forecasted in forward-looking statements due to numerous factors. Any forward-looking statements speak only as of the date of this news release and Stock Market Press undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this news release.
See Stock Market Press disclaimer: https://stockmarketpress.com/disclaimer/ SOURCE: Stock Market Press