NGW stock is making double-digit gains on Thursday after Next Green Wave Holdings Inc (CSE:NGW) (OTCQB:NXGWF) announced the opening of its flagship San Diego CBD store.
The 5,000 square foot boutique-style store located between the neighborhoods of North Park and Hillcrest opened its doors this week to customers, who will be able to choose from a broad selection of the company's CBD products. The brightly colored building, painted by LA artist Risky, will sell everything from CBD oils and flower, cosmetics, clothing, and accessories like pipes, tubes, and artwork. The store will also serve as an event space and monthly art collective in support of local artists. NGW stock has gained over 11% following the announcement.
“This is more than a retail store; it is an opportunity to connect and give our industry a voice. There are few events that bring industry talent together and open channels for conversation and innovation—we are aiming to change that through our 2nd Friday’s initiative. We are using our new space as a marketing vehicle and feedback loop for the WEARESDC cannabis brand and hope this event inspires the community to connect and build relationships that continue to positively shape and define this industry,” said Ryan Lange, NGW's Marketing Officer.
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NGW stock is currently trading for $0.15 on the Canadian Securities Exchange.
Next Green Wave Holdings is a Coalinga, California-based company that markets eight legacy brands through its WEARESDC brand house. With a 35,000 square foot cultivation facility, and currently expanding extraction operations, NGW stock could be boosted by the recent introduction of new CBD legislation aimed at circumventing the lengthy FDA regulatory process. A bipartisan sponsored bill filed this week would allow businesses to market CBD as a dietary supplement and thus broaden its market availability.
News of that bill sent major CBD stocks soaring, the largest of which is Charlotte's Web Holdings (TSX:CWEB) (OTCQX:CWBHF), which popped over 17.5% yesterday. Can NGW stock hop on the coattails of the CBD buzz?
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