Golden Leaf Holdings (CSE:GLH) (OTCQB:GLDFF) announced Monday that it's bringing the Jackpot premium distillate products to the Oregon cannabis market. At the time of writing, the news has not positively impacted GLDFF stock, which is down nearly 5%.
Golden Leaf Holdings Now Serving Oregon Market
On May 6, Golden Leaf Holdings, a leading cannabis company, said it is offering its Jackpot premium distillate oil cartridge brand in Oregon. The cannabis company is based in Portland, Oregon. Previously, cannabis users could only get the Jackpot premium distillate products in Nevada; however, because of the success, GLH has decided to sell it in its home market. Products will be sold in Chalice Farms dispensaries.
"Already a successful product line in Nevada," said Erin Hills, VP of Sales Operations at Golden Leaf Holdings, "we believe that Jackpot will continue to have great success in our home market of Oregon." Meanwhile, CEO Bill Kulczycki said: "The Jackpot product line is an important addition to our differentiated brand portfolio in Oregon."
Despite the news, GLDFF stock kicked off Monday in the red zone—and there it remains. Although it's not alone, several cannabis stocks have taken a hit today, from CRON stock to TLRY stock.
>> CRON Stock: How to Play Cronos Group Ahead of Earnings
According to Yahoo Finance, as of 1:06 PM EDT, GLDFF stock is trading at $0.0815 on the OTC market, putting Golden Leaf Holdings stock down 4.12%. On the CSE, GLH stock is down 8.33%, as of 1:18 PM EDT.
The Golden Leaf Jackpot Products
For those who don't know, Jackpot premium distillate cartridges offer customers high-quality distillate, containing more than 80% THC, that is available in two mood options: Chill and Party. The products were soft-launched in Oregon this year on 4/20.
Takeaway
What do you think about Golden Leaf Holdings bring the Jackpot products to Oregon? Are you surprised to see Golden Leaf Holdings stock trading in the red today?
Let us know what you think in the comments below!
Featured image: DepositPhotos © VadimVasenin
