Sugarmade, Inc. (SGMD) Prepares to Meet Growing Hydroponic Supplies Demand via Strategic Acquisitions
Apr 5th, 2019
A surge in hemp production means big business for hydroponic suppliers.
- Hemp production set to massively increase in the United States this year.
- Increased production driving high demand for hydroponic supplies.
- Hydroponics companies are responding with expansion and acquisitions.
Sugarmade Inc. (OTC: SGMD) (SGMD Profile) has strategically acquired several companies to meet demand and expand its foothold. Canadian-based Tilray Inc. (NASDAQ: TLRY) has expanded production in both Canada and Europe while Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) is developing projects in the United States, and Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has received massive outside investment to fuel its growth. Companies such as Aphria (NYSE: APHA) (TSX: APHA) are enlarging their indoor grow operations as they too rush to meet demand.