HARV stock is gaining momentum this morning after Harvest Health and Recreation Inc (CSE:HARV) (OTCQX:HRVSF) announced that it has opened a cannabis dispensary in Little Rock, Arkansas.
Over the past months, many cannabis companies have continued to expand their businesses despite the slowdown in the sector, and one of those is Harvest Health and Recreation. In a new development, Harvest Health has now expanded its operations into the state of Arkansas.
Major Expansion
The company announced on Monday that it has opened a Harvest House of Cannabis store in Little Rock, which is the largest city and the capital of the state. Harvest Health made the announcement after the Arkansas Alcoholic Beverage Control Division concluded its inspection.
HARV stock gained 3% at C$3.27 after the announcement.
>> Aphria Stock Moving in a Range: Key Things to Consider Now
The store is going to retail around 125 products and is going to be open for business seven days of the week. Only those who are qualified patients and hold a medical marijuana card that has been issued by the state of Arkansas are going to be eligible to buy products from the store.
The cannabis industry in Arkansas is still nascent, with the first store only opening in 2019, so Harvest is moving into new territory, relatively speaking.
In January, Harvest Health and Recreation announced its partnership with the provisioning center Harvest of Battle Creek. The provisioning center is still fairly new and is located in Michigan.
This partnership is an important development as it will allow Harvest Health to expand its already substantial footprint in the United Sates. The company has been aggressive in its bid to expand into new territories and Michigan, and now Arkansas, could be another important step for Harvest Health’s continued growth.
HARV stock has lost about 70% over the past year.
Featured image: DepositPhotos © DragonImages
