What You Need To Know About Sugermade Expanding Into The Cannabis Sector

Company Detail
Sugarmade Inc. (OTC: SGMD) a restaurant supplier based in Monrovia, California, engages in the paper and paper-based products business in the United States. It operates through three segments: Paper and Paper-Based Products, Non-Medical Supplies, and Cannabis Products Delivery Service and Sales. The company also produces and wholesales custom printed and generic supplies, such as edible packaging, food containers, soup containers, plastic spoons, and other related products to quick-service restaurants. In addition, the company has been in business supplying restaurants with to-go materials since 1986. Sugarmade also offers its products through CarryOutSupplies.com website which generates a major part of its revenue. In addition, with the growth in the cannabis industry in North America in the last decade, the company began to operate in the cannabis products delivery and sale services. Using the brand names BudCars, Lemon Glow, and Nug Avenue it has allowed the company to grow in the cannabis sector.

Stock Details

Sugarmade Inc. trades under the ticker symbol SGMD which is in the OTC market. It has 11.2B shares outstanding and trades roughly 50M shares per day which means the stock has liquidity. It has a market cap of $3.72M which indicates the value of how much the company is worth based on the current share price and how many shares are outstanding. The company last reported that it has increased its revenue from $404K to $1.285M YoY in the last quarter ending March 31.