Expanding the e-commerce foot print is generally considered a significant positive for any company but such an announcement did not do much for the American Green (OTCMKTS:ERBB) stock this past Friday. On Friday, the company announced that it was going to launch its premium hemp and CBD products on Groupon.
At the beginning of September 2021, the products are going to be available for purchase by way of vouchers which are going to be available on the Groupon website. The company did state on Friday that it was pleased for having managed to add another source of revenue.
In this context, it is also necessary to point out that American Green also stated that it hoped that its performance on Groupon ended up exceeding its performance on Amazon. The president of the company, David G. Gwyther, spoke about this development as well.
He stated that American Green was pleased to have finally launched on Groupon. He went on to state that there are not many e-commerce platforms which would allow American Green to sell its products directly but Groupon is one of the largest platforms that now allows it. While it was a positive move from the company, the stock traded within a range on Friday.