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$SGMD highlighted in Cannabis Article >>

The Cannabis Resurgence: Five Stocks to Watch (TLRY, SGMD, HRVSF, CRLBF, APHA)

https://www.journaltranscript.com/2020/05/the-cannabis-resurgence-five-stocks-to-watch-tlry-sgmd-hrvsf-crlbf-apha/

Sugarmade Inc (OTCMKTS:SGMD) is a stock that deserves a close look right now because it appears to be establishing itself as a leader in the California cannabis delivery market through its controlling position in the BudCars juggernaut.

BudCars is an emerging delivery leader with a couple hub locations in the Sacramento area. But the company is also in the process of expanding into the massive Los Angeles marketplace, which is particularly interesting given the announcement this week by LA county officials to expand the county’s stay-at-home policy until at least the end of the July. Stay-at-home is a monstrous boon for cannabis delivery on a thematic basis, which should now help to power fresh enthusiasm for SGMD shares.

In addition, the company just announced record growth data for the month of April, with sales growing 58% on a sequential monthly basis over March sales on an average daily volume basis. In addition, data for the month of May already show a strong continuation of that trend, with May sales on pace to add another 16% over and above the strong breakout sales trend seen in April.

“We did about $6,000 per day in sales in March and over $9,500 per day in April, representing a very robust growth trend at our Sacramento hub,” commented Jimmy Chan, CEO of Sugarmade. “May is already off and running at better than $11,000 per day, demonstrating continued dramatic growth. And investors should also note that this $11,000 per day figure represents activity in only one area. With our LA hub set to come online at the start of summer, and with the unprecedented stay-at-home extension in that region, we believe our daily sales in the LA area could triple that figure relatively quickly.”

BudCars is undertaking an expansion in headcount to meet the current and anticipated sharp expansion in demand. SGMD now anticipates the upward shift in sales growth to help solidify its $30 million 2020 revenue target as a conservative target for sales this year.