mCig Inc (OTCQB:MCIG) is back in the news Tuesday. Why? Because the company's been talking about its new SolarBar800 LED light system—and it's all been positive. The update on the system comes roughly a month after the Jacksonville, Florida-based company said it was partnering with Amare Technologies, a lighting company; it has also sent MCIG stock up nearly 6%.
Here's everything we know.
MCIG Stock: The Latest
At the end of May, mCig Inc said it signed a strategic agreement with lighting company Amare Technologies so that mCig can offer its customers the latest high-tech products. And the company seems to be sticking to its word. On Tuesday, June 25, mCig, which is a company that services the legal CBD, cannabis, and hemp markets, said its new cannabis grow lights (SolarBar800 LED light system) outperform its competition in the United States, especially in the lighting industry.
"The new state-of-the-art SolarBar800 (Bar8) is capable of an astonishing 2.82J @ 484W and 2.69J @ 880W with our SolarSpec-HO spectrum option," explained mCig COO, Victor Nguyen. He then explained that preliminary testing has largely been completed by top commercial growers; superior results have been seen in quality and yield.
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The stock market seems just as pleased, with MCIG stock trading in the green, twenty-four hours after several cannabis stocks dropped on their respective markets.
According to Yahoo Finance, as of 12:35 PM EDT, MCIG stock is trading at $0.0610, putting it up 3.87%. Earlier in the day, MCIG stock looked like it was going to surpass 6%.
Takeaway
How did you react to today's news? Do you think the new SolarBar800 LED light system will allow mCig to float higher than its competitors for the rest of the year? Will it keep benefitting MCIG stock?
Let us know your thoughts in the comments below! And don't forget to look out for more updates from mCig Inc regarding its new lighting system!
Featured image: PixaBay
