The California cannabis market is booming; most investors recognize this. And now a Canadian cannabis company is going to get a taste of the action (not that Canadian companies need to look elsewhere—the Canadian cannabis market is doing quite well itself). In this article, we're talking about a Toronto-based company. More specifically, we're talking about how the Nutritional High Sacramento facility has started the manufacturing processes.
Exciting, right? Right. So why did the EAT stock tank today?
Nutritional High Sacramento Facility: Let the Games Begin
Finally, the cannabis market has received information on the Nutritional High FLI Labs NorCal facility. Even Jim Frazier, CEO of the cannabis company, said today is a "long-awaited day for Nutritional High."
It makes sense why Frazier said this. By operating its own production in California, Nutritional High will be able to up its "velocity of FLI products into the market," as well as "expand production delivery capabilities," says the CEO.
Frazier's not the only person that has expressed how important today is for the company. Chairman David Posner said it's a "great day for Nutritional High (CSE:EAT)," adding that the team is "anxious to take the next steps."
And yet, despite all of this, despite the news finally being out in the open, cannabis investors don't seem happy. At least, that's what the EAT stock indicated today.
EAT Share Price: September 6th
On the same day the news came out about the Nutritional High Sacramento facility, the EAT share price closed at $0.305; this means the EAT stock closed down 3.17%.
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The Takeaway
What do you think about the Nutritional High Sacramento facility starting manufacturing? Is the FLI Labs NorCal facility going to help the company's overall corporation vision? If so, why do you think the EAT stock dropped on the news?
Let us know what you think in the comments below!
Featured Image: Twitter
