RichTV is all about discovering companies that are underappreciated, undervalued, and underexposed. Once again, Rich is here to profile an operator in the cannabis space that investors need to know about. Today his pick is Citation Growth Corp. (CSE:CGRO) (OTCQX:CGOTF).
Amazingly, while almost every other pot stock has been tanking lately, CGRO has actually had a great couple of weeks. Since October 2, the price has risen 66.7%, from $0.34 to $0.44. This makes it just about the only cannabis company to be in the green right now.
“This is a company that nobody really knows about. They’re just getting started,” says Rich. “And that’s really impressive.”
Citation Growth Bona Fides
Since entering the medical and recreational cannabis space in 2014, Citation Growth has built itself into a premiere multi-state operator. By rapidly expanding its operating portfolio, the company has cultivation, production, and dispensary locations in key North American state-legal jurisdictions. On top of that, it is actively seeking expansion opportunities worldwide.
“One of the things I really liked about this company when I first found them is that they’re the only US company with triple organic certified flower,” explains Rich.
The company’s intention is that all of its products are associated with safe, organic cannabis products that consumers know they can trust, and it’s this commitment to organic produce that sets Citation apart.
While reports of vaping-related death and illness has swept the industry, bringing pot revenue down, Citation Growth has been making a name for itself as the healthiest option for cannabis users.
Rich adds that the company doesn’t really have any competitors in the organic cannabis market. This not only gives them first-mover advantage, but it also gives them dominance over the sector.
On top of that, the company’s licensed capacity can produce industry-low cost. This means that not only is Citation making better cannabis, it’s doing it for less.
The Nevada/Las Vegas Cannabis Market
Citation Growth’s cultivation facility in Las Vegas is expected to be 248,600 square-feet after construction is complete. This will allow Citation to produce up to 22,000 kg of premium dried cannabis there every year.
“Las Vegas has got to be one of the best markets in the world for cannabis,” explains Rich. “It’s the number one city in America for tourism, and those people are going to want to try out the weed. So that’s a perfect spot for the cannabis business.”
Rich is right on the money. In the first year since legalizing recreational pot, retail stores in the state of Nevada exceeded revenue forecasts by 60%. Analysts currently expect that the state’s revenue from recreational cannabis will be worth more than $1 billion by 2025.
Citation Growth Launches New Cannabis Brand
Earlier today, Citation Growth announced some exciting news that is likely to push its stock price even higher. The company unveiled its new premium line of cannabis for both its DIAMANTE and SUPERIOR brands.
Cultivating the idea of “Soil to Oil,” Citation ensures its products are of the highest quality by leveraging its triple organic certified flower into a premium brand of cannabis concentrate.
Whether or not the vaping health scare continues, Citation Growth will continue producing the healthiest, most organic products in the cannabis space. It will be fascinating to watch the public discover and embrace this exciting company.
What do you think? Is Citation the kind of company that the cannabis industry needs right now? Let us know your thoughts in the comments below. Also, if you liked this video, make sure to check out Rich’s other profiles of Stillcanna (CSE:STIL) (OTCPK:SCNNF) and Zenabis Global (TSX:ZENA) (OTCPK:ZBISF).
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