In an industry that is always evolving, it's imperative that companies find a way to develop a competitive edge. And that's what Golden Leaf Holdings (CSE:GLH) (OTCQB:GLDFF) seemed to be doing this week in the cannabis sector. This week, GLH announced the latest addition to its Fruit Chew product line.
While the newest product is a first of its kind in the Oregon market, Golden Leaf Holdings stock didn't have as positive of a reaction as one might have hoped for the remainder of the week.
Here's everything we know.
Golden Leaf Holdings: New Addition to Well-Known Product Line
Golden Leaf Holdings announced on Monday, June 10, that it has a new addition to its Fruit Chew product line. According to the press release, the product is a single-serving, 50mg THC edible; it has been called the Golden Blast Fruit Chew. As the Oregon market only has a handful of products that offer a single serving of 50mg THC, Golden Blast Fruit Chew is one of a kind.
"The Golden Blast Chew offers a competitively priced, all natural single-serving size option that we believe is the first of its kind in the Oregon market," explained Golden Leaf Holdings CEO Karyn Barsa.
>> CGC Stock: Money Talks, Why Canopy Growth is the Industry Leader
Not only is it a novelty to the Oregon market, but the Golden Blast Fruit Chew can be used by those with dietary restrictions, being 100% vegan, gluten-free, and soy-free. On top of that, the product contains highly potent THC distillate oil.
But the news didn't do much for Golden Leaf Holdings stock. At least, not a couple of days after the news hit the market.
According to Yahoo Finance, as of 11:20 AM EDT, GLDFF stock is trading at $0.0602 on the OTC market, putting it down 13.20%.
Takeaway
It's possible Golden Leaf Holdings stock is down Wednesday because it's just one of those trading days. It's not the only cannabis stock floating in the red, after all. Whatever the reason may be, at least cannabis users have something to look forward to—the Golden Blast Fruit Chew, which has a retail price point of $5 US.
Featured image: DepositPhotos © karandaev
