Cannabis-infused drinks are something of a trending topic in the cannabis sector. Cannabis penny stocks are making sure they’re getting in on this action too.
Cannabis Penny Stocks: Cannabis Drinks with CROP Infrastructure
Recently we’ve heard announcements made from major drinks companies Pepsi (NASDAQ:PEP), Coca-Cola (NYSE:KO), and Molson Coors (NYSE:TAP), regarding partnerships with cannabis companies to develop cannabis beverages. News like this has historically seen shares soar.
CROP Infrastructure Corp (CSE:CROP) is one cannabis penny stocks company looking to develop its own ‘CannaDrink’ alongside Naturally Splendid Enterprises (TSXV:NSP).
But CROP’s shares aren’t following the usual trend today, which may leave you scratching your head a little bit.
The two companies signed an LOI in August and now CROP will use NSP’s HempOmega powder in its new line of drinks. This HempOmega powder is created from microencapsulated hemp seed oil. CBD derived from hemp is not as potent as that derived from marijuana, and, following the passing of the Farm Bill, is entirely legal to farm across the US.
Where products containing CBD from marijuana are not allowed, CROP’s CannaDrink will be available as a suitable alternative. It will be available in a soda, tea, and coffee form.
This cannabis penny stock company is eyeing a market estimated to hit $606 billion USD by 2025.
On the partnership, Michael Yorke, CEO and Director of CROP Infrastructure said: “We believe in the nutritional spectrum and health benefits of both hemp and CBD so adding a consumer goods vertical was a logical progression as consumer data shows strong trends in plant-based foods and nutritional products.“
Penny Stocks Rising and Falling
CROP’s share price rose dramatically on Monday after the company announced an Italian expansion. The cannabis-business investor leased an impressive 87,120 square foot greenhouse facility in Italy with its partner XHemplar.
That news sent the stocks soaring 20% to $0.56 per share. However, CROP stock has been experiencing rocky ups and downs since. At the time of writing, shares are down 1.02% despite the company’s interesting venture with CannaDrink.
That’s penny stocks for you! They are ever-changing.
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