Cannabis concerns again make their way into the spotlight, with incredible results emanating from at least one of them.
In the U.S., health-care issues gained 0.7%, while in Canada, the health-care sector stepped back 0.4%.
Los Angeles-based Driven Deliveries Inc. (OTC: DRVD) boasts a status as one of California's fastest growing online cannabis retailers and direct-to-consumer logistics companies. The company announced preliminary unaudited revenue results of $5.6 million for its second quarter, an increase of 158% from its first quarter.
Company CEO Christian Schenk said, "We experienced record-breaking sales for the quarter ended June 30, 2020 as we continued to acquire new customers while experiencing repeat orders from existing customers, driving a $3.4-million increase in revenue in the second quarter of 2020 compared with Q1 2020.”
The price of DRVD took a page from Evel Knievel, “skycycling” five cents, or 10.1%, to 55.03 cents, on 38,000 shares.
The results may not be spectacular, but Toronto based CO2 GRO Inc. (TSX-Venture:GROW) told investors a CO2 Delivery Solutions Commercial Feasibility with a leafy greens greenhouse grower (known as "Customer") in Florida. The Feasibility will be conducted on a portion of the greenhouse growing spinach.
The Customer grows spinach, lettuce and other microgreens in a hydroponic system under 120,000 square feet of greenhouse space.
GROW's CO2 Delivery Solutions VCO2 system will provide aqueous CO2 mist to the leaves of the treatment group with the following objectives: faster growth to harvest, increased biomass growth and protection against the spread of epiphytic micro pathogens such as powdery mildew and E. coli.
The Hydroponic Crop Farming industry in the United States generated $831 million in revenues in 2019 from more than 3,000 businesses. The worldwide hydroponics market is estimated at $8.1 billion U.S. in 2019 and projected to grow at a CAGR of 12.1% to reach $16.0 billion U.S. by 2025
The price of GROW did anything but Wednesday, holding still at 10.5 cents, on 135,000.
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