Although Hannover House Inc (OTCMKTS:HHSE) made a major announcement yesterday but it did not seem to go down well with the company’s investors and the stock declined by as much as 10% amidst a strong selloff. That being said, the announcement was an interesting one.
The company announced that it was moving into television programming, with a special interest on the marijuana sector, by way of a new television series named ‘Cowboys of Cannabis’. The series is being produced by One-Eleven Productions Inc. In this context, it is perhaps necessary for investors to remember that the medical marijuana industry has grown at a remarkable rate in the past three years and that is going to be in focus in the television show.
It should be noted that in the past three years, the medical marijuana sector has managed to grow spectacularly in three years and now generates revenues of as much as $1 billion on a yearly basis. Eric Parkinson, who is the Chief Executive Officer of Hannover House, noted that the producer of the show Christ Large managed to ‘hit a home run’ with this show. Despite the fall in the share price, it is going to be interesting to see if it can make a recovery over the course of this week.