Cannabis strategic ventures (OTC: NUGS) have been breaking every record in terms of Consolidated Revenue, revenues derived from cannabis sales totaled, and gross profit, regardless of the pandemic. The CEO stated that while other companies have been suffering the circumstances they managed to increase their numbers while others decreased.
We made a visual to showcase the scale of their developments:
– Timeline of the CEO Statements
October 22, 2020
Simon Yu, CEO of Cannabis Strategic Ventures:
“We continue to see growing market positioning and overall performance despite variable market conditions for cannabis producers over the past two months,” “It’s remarkable to look back and recall that our target for 2020 for the topline was around $5 million in annual sales. We have already more than doubled that, and we look forward to a very strong run into the year-end.” Simon Yu, CEO of Cannabis Strategic Ventures
November 10, 2020
“We saw a terrific quarter come to an end in September, but we are already turning our attention to expanding and executing in the months and quarters ahead. Our $5 million 2020 annual revenue guidance has been left in the dust at this point. We are now seeing total sales accelerate toward a significantly higher mark as we continue to improve product quality, market reach and execution.”
“We hit the gas pedal when everyone else was hitting the brakes earlier this year, including on the execution side, which led to better product quality, which, in turn, has led to higher pricing in the market for our cannabis production on a per-unit volume basis. That trend continues to dovetail with our very positive trend in rising production capacity. In the process, we have nailed into place a growing footprint of strong distribution relationships by being a reliable source of high-quality products in an unpredictable context for end-market retailers.” Simon Yu, CEO of Cannabis Strategic Ventures
July 21, 2021
“2020 was a defining year for NUGS, as we pushed into a higher gear in terms of commercial activity and market positioning despite the unusual challenges of the global pandemic health crisis. We were able to fend off any drop in margins. However, we see operating expenses as an area of potential improvement and we are working to improve production processes and input sourcing contracts as we scale up production over coming quarters.” Simon Yu, CEO of Cannabis Strategic Ventures
Seeing how this company, regardless of the unfavorable circumstances created by the pandemic, managed to widely surpass its goals. After all these hurdles they are planning on expanding. It could be one of the biggest players in the market. We could even believe we will be seeing them on the NASDAQ listing soon once they reach their criteria, Which given their current course seems to be a realistic possibility.
Lots of positive news, but what’s happening to the stock?
Until now we have only heard positive things from cannabis strategic ventures (NUGS) but the stock price doesn’t seem to resemble this growth. Why is that?
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