Ever since Beyond Meat's partnership with Del Taco, everyone seems like they are trying to create their own plant-based protein alternative to meat. It's just what the consumers want in 2019. And that was enough incentive to get North American Cannabis Holdings (OTCPK:USMJ) involved in the sector. But was that a smart move for USMJ stock?
Let's see.
USMJ and the Meatless CBD Burger
Last week, North American Cannabis Holdings released an online presentation that detailed its partnership with Kali-Extracts, explaining that the two have joined forces to introduce the market to a meatless CBD-infused hamburger. Of course, this is not the first time North American Cannabis Holdings has capitalized on growing market trends; for instance, the Dallas, Texas-based company spun off its cannabis-themed restaurant in 2018, a time when the cannabis industry jumped in popularity.
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But is it smart to compete against the likes of Beyond Meat and Del Taco, which have recently introduced meatless tacos. We know that plant-based protein alternatives are important to consumers right now, so, yes, several companies could turn a profit by hopping on the bandwagon. Or, the opposite could happen.
If the rollout of the meatless CBD-infused hamburger goes well, North American Cannabis Holdings is likely to reap some benefits considering how popular meat alternatives are right now. But if it doesn't meet market expectations (and there will be some), USMJ stock could be in trouble. After all, in the past month, USMJ stock is down 16.67%, and 60% year-t0-date. Essentially what this means is that, if USMJ stock wants to make a turnaround in 2019, it's important for North American Cannabis Holdings' partnership with Kali-Extracts to be a success. And that means the meatless CBD-infused burger has to succeed as well.
What do you think about the latest USMJ news? Let us know your thoughts in the comments below!
Featured image: DepositPhotos © bhofack2
