Kiran Sidhu: Canadian Edibles Could Create Stock Rally
Kiran Sidhu, CEO of Halo Labs, spoke to INN at the MJBizConINT’L event in Toronto about the state of the market for extraction companies and the critical role of Canadian edibles for these companies.
Kiran Sidhu, CEO and director of cannabis extraction firm Halo Labs (NEO:HALO,OTCQX:AGEEF), thinks the summer woes for cannabis stocks may soon change with a potential rally in the fall as Canada legalizes edibles.
During the MJBizConINT’L event in Toronto, Sidhu offered his perspective on the impact the legalization of edible and infused products in Canada may have for the overall stock market.
The executive said that, since the company’s inception in 2016, they have sold approximately 4.5 million grams of cannabis oils and concentrates.
“The summer is traditionally very slow because we all depend on retail investors, because institutional investors, especially in America, are limited,” the executive said when asked about the investor sentiment for the industry, which he categorized as the worst he has seen since joining the space.
While the company isn’t currently active in the Canadian market, Sidhu told INN that Halo is in discussion with a variety of legal producers to establish its presence in this market.
Sidhu said inhalable items represent a “substantial portion of the business.” Halo holds extracting operations across the US in Oregon, Nevada and California.
The cannabis extraction play has gained some attention from investors in the Canadian market, largely due to the upcoming legalization of edibles and infused marijuana products this year.
The metrics for keeping up with these companies vary, but experts agree quality in the production of novelty products will be key for investors to monitor when it comes to extraction firms.
Watch the interview above to hear the rest of Sidhu’s comments from the cannabis event.
Don’t forget to look for the rest of our coverage of MJBizConINT’L, with exclusive interviews and more insights from the show. You can also follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.