Those who are looking into cannabis companies again could consider having a closer look at the Cannabis Strategic Ventures Inc (OTCQB:NUGS) stock. At this point in time, the company is counted among the biggest publicly traded marijuana cultivating companies in the United States.
The company is based out of Los Angeles and is currently best known for incubating and partnering with cannabis industry leaders. It should also be noted that Cannabis Strategic Ventures also partners with the ancillary industries related to the cannabis space. The company is best known for providing strategic and operational partnerships to cannabis companies that are at an early stage of development.
There have been no fresh developments with regards to the company in recent times. However, it might be a good idea to take a look at an event from back in November 2020. The company, which is now regarded as one of the upcoming leaders in the United States cannabis marketplace space, made an announcement about its performance data for the quarter that ended on September 30, 2020.
The data proved to be impressive, considering the fact that Cannabis Strategic Ventures managed considerable expansion and strong growth in the fast-growing cannabis marketplace in California. It should be noted that at this point in time, California is regarded as one of the most lucrative cannabis markets in the world.
Cannabis Strategic Ventures announced that in the period it ended up making total sales of as much as $6.4 million. It marked a considerable improvement from the $3.3 million worth of sales that the company had recorded in the period that had ended on June 30, 2020. It reflected a robust sequential growth of as much as 90%.
However, on the year over year basis, the sales figure reflected the growth of a staggering 800%. The company’s Chief Executive Officer Simon Yu said at the time that after the strong performance, Cannabis Strategic Ventures was looking to expand its business further.
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