This morning, many investors are expected to look into the stocks of those companies that may have come into the news cycle on Thursday, and one of the companies worth looking into could be Rodedawg International Industries Inc. (OTC:RWGI). On Thursday, the company announced that through Parabola Mgmt LLC, its fully owned subsidiary unit, it had sped up the sales of its cannabis and hemp-derived isolates.
The Chief Executive Officer of the company, Chris Swartz, spoke about the development as well. He stated that the company’s management had decided to make an investment in excess of six figures in the development of the manufacturing facility meant for the extraction of cannabis-based isolates from hemp.
The decision from the management to make such an internal investment had specifically been made for the biggest generators of revenues for Rodedawg International Industries, and hence, it would benefit all the company’s shareholders. He went on to note that the leadership of the company believed that it believed in demonstrating the strength of Rodedawg International Industries’ expansion with its own money. The initial testing of the equipment had been completed, and the company had 65% production for cannabis as well as isolates.
The revenues of the company continued to go up. As per the findings of Zion Market Research, the growth of the global cannabis extract market is expected to grow at a CAGR of 16.8% and hit a valuation of $21.6 billion by 2026. Hence, the latest development could be seen as a major development for the shareholders since Rodedawg International Industries now has its own sales channels, manufacturing capabilities, and distribution systems in place.
Swartz also stated that in the upcoming quarter, the company would look into moving into other states and try to turn Rodedawg International Industries into a multi-state operator.
