Dec 7, 2018 Maria Ohle

GGB Stock Rises on Nevada Deal: Green Growth Brands Surges

GGB Stock

Green Growth Brands (CSE:GGB) (OTC:GGBXF) has been awarded an impressive seven retail cannabis dispensary licenses to operate in Nevada, US. Now the company is poised to become a leading cannabis operator in the State, and GGB stock is saying as much.

Green Growth Brands: GGB Stock Surges

With seven new dispensaries on the horizon, the growth prospect here is exciting, and GGB stock is reflecting that; the stock has jumped from $2.65 to $3.44 in under 24-hours.

Nevada Offers Opportunity

Nevada isn't just any old state to place seven new dispensaries. It is the US's second largest cannabis market after California. The Nevada Department of Taxation reported recreational and medical marijuana sales of approximately $530 million USD in the first year after the State legalized cannabis entirely.

GGB Strategy

The company has been strategic about Nevada from the start. The city is home to over 3 million people and sees 42 million visitors annually. For this reason, Green Growth Brands (CSE:GGB) (OTC:GGBXF)"chose Nevada as the first state where we will present the full expression of our brands, product, and services."

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The company's CEO, Peter Horvath, furthered:

"At maturity, we see Nevada as a consumer market that represents USD$150 to $250 million in revenue potential to GGB with ten or more dispensaries across multiple brand formats."

It's also why Green Growth Brands (CSE:GGB) (OTC:GGBXF) has set its base here. It already has two flagship stores in Las Vegas, NV—The Premier Cannabis Store and The+Source. The company's grow and production facility is in Post, NV.

The seven new stores will be operational in 2019. Moving on this, Green Growth Brands (CSE:GGB) (OTC:GGBXF) will not only expand its footprint across the State but will also, importantly, expand its name. As increased revenues roll in from this new fleet, GGB stock should reflect this in kind. Not bad, for a company that only began listing three weeks ago!

Featured Image: Depositphotos/© klss777

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