Weekend Unlimited stock is up 18% on Thursday morning after the company announced the launch of its flagship WKND! range of products.
Significant Milestone for Weekend Unlimited Stock
The Vancouver-based lifestyle cannabis company Weekend Unlimited (CSE:POT) (OTCQB:WKULF) announced the launch of its new range in Washington state, which will include products such as vape cartridges, pre-rolls, and cannabis filled cigars. CEO Chris Backus has stated that this launch is a "significant milestone" for the company and investors in Weekend Unlimited stock clearly reiterate this sentiment as apparent by the surge in share value.
“As of this week, wknd! branded products are in full sales launch in Washington state. Inventory is fully stocked, sales teams have entered retail stores with product sample packs, and purchase orders are being taken,” continued Mr. Backus in today's statement.
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The Ideal Incubator
Weekend announced in July that it would be collaborating with Emerald City Cultivation, a Seattle-based cannabis producer, to develop its new product range for what it describes as "the ideal incubator" in Washington state. While the company has utilized the north-western state as its retail entry point into the US market, it does plan on breaking into additional states. Weekend Unlimited describes itself as a "lifestyle-based recreational cannabis company," which also has a unique entertainment and education division called "Weekend Live!"
In February, Weekend Unlimited stock soared as much as 147% after the company won the lottery to use the highly sought after POT ticker on the Canadian Securities Exchange. However, nearly all of these gains were lost in the following months as the stock hit a year low of $0.05 in June. Speculators will be hoping that today's WKND! product launch is a sign of an upturn in fortunes for Weekend Unlimited stock, as the company looks to capitalize on an emerging cannabis derivatives market.
Despite today's surge in share value, Weekend Unlimted stock is still valued at just $0.065 and so could represent a good buy for investors with an eye for a steal.
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Featured image: DepositPhotos © VadimVasenin
