Welcome to the latest installment of “Bulls and Bud,” a column where we take a look at some of the most promising stocks and brands in the legal cannabis industry.
This is an Oregon-based manufacturer of cannabis oils and concentrates where it boasts about 20 percent of the Oregon concentrates wholesale market, and has done more than $25 million in revenue. But the company’s recent moves into California and Nevada have given it some serious swagger that’s worth a closer look.
Following its expansion into California and Nevada, Halo has tripled revenues.
The company’s California operations generated $5.3 million, while its Nevada operations generated about $500,000 and its Oregon operations pulled in just over $2 million.
Because Halo built its brand early in Oregon, and had a solid foundation for growth, it was able to successfully swoop into the California and Nevada markets. And this is just the first year. I expect to see continued growth in all three markets, with the lion’s share of revenue coming from California, and the biggest growth coming from Nevada. (Full disclosure: I own shares of Halo.)