ORLANDO, Fla., Feb. 05, 2020 (GLOBE NEWSWIRE) -- It has been a mercurial run for cannabis companies over the past year or so. Many have seen their market shares curbed and cropped among an industry-wide correction. The markets have not been kind.
But in stark juxtaposition is the cannabis industry itself which, while shaking out weaker hands and lesser ideas, is rapidly expanding as legal walls fall to the wayside and more crops bloom. In fact, a recent Forbes article cites a report that predicts legal cannabis sales will grow to nearly $30 billion by 2025.
And for companies like Digipath Inc. (OTCQB: DIGP) the key word in that bold forecast may be ‘legal.’
As one of the leading cannabis testing labs Digipath is well-positioned at the intersection of cannabis and commerce, a regulatory necessity to legal sale. Want to sell cannabis products most anywhere in the country? You need a lab like Digipath which just announced that its Nevada samples tested for the month of January were up 50% over the same month the year before as well as a planned expansion.
The point may well be that while the cannabis sector sorts itself out with a little corporate Darwinism, the industry looks poised to expand and to expand rapidly. Not long ago cannabis was verboten, now there’s a case full of CBD products in the local grocery store. And it generally has to be tested.
If the market does expand as described, durable Digipath could be well positioned to continue its growth in regulatory required cannabis sample testing.Source: apnews.com