Business
Cannabis Strategic Ventures “Sold Out” Every Week for First Time in Company History, Expanded Inventory Ready Next Week
Cannabis Strategic Ventures “Sold Out” Every Week for First Time in Company History, Expanded Inventory Ready Next Week.
About this update from Cannabis Strategic Ventures
[{"type":"text","content":"\n LOS ANGELES, May 13, 2020 (GLOBE NEWSWIRE) -- Cannabis Strategic Ventures “Sold Out” Every Week for First Time in Company History, Expanded Inventory Ready Next Week LOS ANGELES, May 13, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – Cannabis Strategic Ventures (OTCQB:NUGS) (“NUGS” or the “Company”), an emerging leader in the U.S. cannabis marketplace, is pleased to announce it will have new expanded inventory ready for sales and shipment next week after a sharp surge in sales in early May left the Company “sold out” every week for the past month for the first time in its history. The Company recently expanded total production capacity by as much as 150% in preparation for an unprecedented escalation in demand. That capacity expansion will contribute to inventory going forward as the Company translates surging demand into accelerating sales growth. “We have never seen anything like this,” noted Simon Yu, CEO of Cannabis Strategic Ventures. “We booked $100,000 in one day to clear out all of our remaining inventory. We anticipated this dynamic but still underestimated the force of the trend. Too much demand is always the problem you want to have. And we are confident we will be able to translate this into further upside in terms of our top line growth curve.” The Company is coming off a record month of sales in April, where it booked orders at an annualized pace exceeding $10 million. In all, April sales came in more than 800% higher than the average monthly sales performance logged during the Company’s calendar Q1 – momentum that has carried over into May sales data. Cannabis Strategic Ventures has a growing social media presence. Follow us on:Twitter: @NUGS_stockFacebook: https://www.facebook.com/NUGSstock/Instagram: @nugs_farm About Cannabis Strategic VenturesCannabis Strategic Ventures Inc. (OTC: NUGS) is one of the largest publicly traded marijuana cultivators in the United States. The Company is Los Angeles-based and incubates, develops and partners with category leaders within the cannabis and ancillary sectors. The Firm's NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing Cannabis consumer brands. For more information, visit http://www.CannabisStrat...