The cannabis industry is emerging, and doing so with a bang. With investor interest that can only be compared to the cryptocurrency boom, millionaires are starting to be made in the space. Filling an important void in that space is Nugl (OTCMKTS: NUGL).
NUGL Is Bringing Structure To A Fragmented Market
The legal cannabis market is a highly fragmented one, and with it being young, there’s a need for solutions to consolidate the market and make products easier for consumers to find. That’s the first step in what Nugl is doing.
Through their website, www.Nugl.com, the company is providing the ultimate cannabis search engine. One that’s free for all users. Nugl’s search is far and above what we see from websites like Leafly or WeedMaps. Through these sites, consumers can find dispensaries, but what about brands?
If users want to find a specific strain of cannabis or brand of vape pen, they have to take the time to call around to local dispensaries in the area to see if they have it. NUGL provides a solution to this problem.
The website currently has more than 100 profiles that include businesses, brands, influencers, and services, giving users full fledged access to everything the cannabis industry has to offer. Moreover, it’s not only available online, but the NUGL app is available for download on the Google Play and Apple Apps stores.
With an in-depth, highly intuitive search engine, cannabis consumers now have the ability to find their favorite brands, products, and more! As mentioned above, that’s just the beginning of the product offering.
An Advertising Opportunity Like No Other
Beyond the consumer-based search, this intuitive search option also provides cannabis-related businesses with advertising options that are unmatched on other platforms.
Through NUGL Media Group, a wholly owned subsidiary of the company, dispensaries, service providers, and other businesses within the cannabis space have the ability to create a social profile of sorts. The profile not only lets them advertise their hours and menus, but allows businesses to send out public messages to their audience.
This is very important. After all, while the cannabis industry is emerging in a LEGAL way, the topic is still a somewhat taboo one. Considering this, and with social networks like Facebook, Twitter, and others being under fire as of late, they quickly block any form of advertising surrounding cannabis.
Looking for an opportunity to place ads across the web, Nugl created an ad server. Today, the company is able to place and sell ads across a wide network of websites. These include brands managed by NUGL Media Group like Professional Marijuana Grower, Garden and Greenhouse, and NUGL Magazine, but a wide array of other cannabis websites across the net. This ultimately gives the cannabis industry an option that has eluded it throughout its emergence.
The Nugl Of The Future
The next step for the Nugl team is to create a 420 friendly social community. In fact, if you go to the company’s website, you can already see that this social community is starting to take shape.
In a message box on the home page, the company says that consumers will soon be able to “chat with other cannabis enthusiasts and businesses with direct messaging,” and businesses will be able to “communicate with [their] community via direct messaging and public comments.”
That is a powerful step for the company. After all, cannabis posts on popular social networks have been shunned, leaving cannabis enthusiasts largely in the dark ages when it comes to social connection. Ultimately, the social aspect of NUGL is likely to fill that void.
It’s also worth mentioning that the company’s innovation in the space isn’t likely to stop. Digging through the company’s most recent news, it’s easy to see that Nugl is very active in communication with its investors and the emergence of the cannabis industry.
The Market Opportunity Is Tremendous!
Because the cannabis market is an emerging and constantly evolving one, it’s impossible to accurately predict what the value of the industry will be ahead. However, there are signs that strong predictions are being met by even stronger results.
Recently, Canopy Growth Corporation, a company riding on the wave of cannabis legalization in Canada, reported a 283% rise in quarterly revenue. Not only did the company see a strong rise in revenue, it far outpaced analyst expectations, coming in 36% ahead of analyst expectations and showing that the demand for cannabis is likely stronger than expected. Here’s why this bodes well for NUGL…
There are many factors that play a role in analyst predictions. One of the key factors is market value predictions. Considering this, on a global scale, the legal cannabis market is estimated to be worth as much as $146.4 billion by the year 2025.
Considering that revenue among some of the larger cannabis producers is coming in ahead of expectations by a wide margin, it wouldn’t be outlandish to suggest that the market value of the legal cannabis sector could prove to be higher than expectations as well.
While the market is emerging quickly and expected to continue to grow at a rapid rate, there are multiple corners of the market that remain untapped. The companies that tap into these untapped corners will likely ride the wave of the cannabis market to strong growth.
NUGL is one of these companies. Seeing the success of dispensary search engines, even with their limitations and various limitations in advertising and social communication for the industry as a whole, the company is providing solutions that consumers and businesses in a technology driven world will be looking for.
While it would be foolish to say that the company will take the lion’s share of the cannabis industry, only a small percentage of this industry is necessary to make a meaningful difference for investors, and it would be just as foolish to think that Nugl doesn’t have the ability to capture that necessary small percentage of the market.
Regulatory Changes And High Investment Interest Offers Further Opportunity Ahead
Lately, we’ve seen a wave of regulatory changes surrounding the legal use of cannabis. Late last year, Canada legalized adult-use cannabis for recreational purposes. More recently, the Farm Bill was passed in the United States, opening the door to the farming of hemp and sale of products like CBD oils and infused beverages.
At the same time, massive companies like Altria and Constellation Brands, are making billion dollar bets on the cannabis space. These companies, best known for cigarettes and beer, know how to navigate highly regulated markets and have teams of expert lobbyists to ensure that legal reform moves in their favor.
Considering the shift that is already taking place, and the billion dollar investments made by Altria and Constellation brands in the space, there is speculation that the United States may be the next to fully legalize the sale of adult-use cannabis, a move that would only expand the opportunity for NUGL and others in the cannabis space.
The Bottom Line
The bottom line here is that we are currently on the leading edge of an emerging market with potential that’s hard to ignore. Now is the time to find the diamonds in the cannabis space, and NUGL just might be one of them. By creating services that are tailor-made to bring solutions to both consumers and businesses in the cannabis sector, Nugl is creating an investment opportunity that is worth your attention!
Read the original post with all relevant disclosures at CNA Finance.