Welcome to the latest installment of "Bulls and Bud," a column where we take a look at some of the most promising stocks and brands in the legal cannabis industry.
Halo Labs
Back in February, I introduced you to a company called Halo Labs (OTC: AGEEF).
This is an Oregon-based manufacturer of cannabis oils and concentrates where it boasts about 20 percent of the Oregon concentrates wholesale market, and has done more than $25 million in revenue. But the company’s recent moves into California and Nevada have given it some serious swagger that’s worth a closer look.
Following its expansion into California and Nevada, Halo has tripled revenues.
The company’s California operations generated $5.3 million, while its Nevada operations generated about $500,000 and its Oregon operations pulled in just over $2 million.
Because Halo built its brand early in Oregon, and had a solid foundation for growth, it was able to successfully swoop into the California and Nevada markets. And this is just the first year. I expect to see continued growth in all three markets, with the lion’s share of revenue coming from California, and the biggest growth coming from Nevada. (Full disclosure: I own shares of Halo.)
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One thing I’m really excited about with Halo is the launch of its DabTabs.
DabTabs are ceramic discs that store a pre-measured dose of concentrates or oils and the advantage with these is simple. It’s not as messy as the previous consumption methods available for concentrates. They’re also compatible with most rigs and vaporizers on the market. As long as the heat settings can reach 450 degrees Fahrenheit and the DabTab can fit into the device, these little ceramic discs of pleasure will deliver.
Halo’s DabTabs were launched into more than 140 dispensaries in Oregon. The company also has a partnership with Eaze to sell DabTabs to consumers in Oregon and California, a deal with High Tide (OTC: HITIF) to distribute DabTabs throughout Canada and Europe, and a deal with MariMed (OTC: MRMD) to distribute DabTabs to dispensaries on the East Coast.
Although Halo already runs a tight ship, and is doing quite well increasing revenue and expanding its footprint, I have little doubt these DabTabs will soon be one of the most popular brands in the cannabis market.
6 Things To Do In Illinois...
The next state to legalize the adult use of cannabis will be Illinois. And I’m excited.
Not just because the people of Illinois will soon be able to recreate as they please, but because all of my favorite things to do in Illinois will now be a lot more fun with a pleasant buzz.
Here are five things I recommend doing in Illinois once the adult use of cannabis is officially legalized early next year.
All joking aside, congratulations to all the folks in Illinois who fought hard to ensure that their right to consume this amazing plant will no longer be denied by the shackles of prohibition.
Jeff Siegel is the co-founder and managing editor of Green Chip Stocks, a private investment community focused on socially-responsible investing. He is an expert in renewable energy and cannabis investing, has been a featured guest on Fox, CNBC and Bloomberg Asia, and is the author of the best-selling book, "Investing in Renewable Energy: Making Money on Green Chip Stocks."
Photo by Javier Hasse. Image in body from DabTabs' website.
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