JunkieDog.com Inc (OTCMKTS:JKDG) is the newest entrant in the cannabis industry. As per the most recent press note, the company informed its stakeholders about its new offering on its online e-commerce marketplace. The company, which already specializes in product sourcing, manufacturing and distribution of a range of products, from department store items to consumer electronics, will not sell equipment used for the growth of pot plants.
Given the growth propensity of the cannabis industry, it had become difficult for JunkieDog.com Inc (OTCMKTS:JKDG) to overlook its growth prospects in the sector. As per the latest report by ArcView Market Research, the marijuana sector boomed by a whopping 74% to $2.7 billion, accounting as the fastest growing industry in the U.S. Moreover, the increased participation of states in legalizing pot for medicinal and recreational use has also inspired the company to foray into the cannabis business. At the same time, the growth prospects of the industry, which is expected to climb by another $252 million in 2015 alone, also served as major factor behind JunkieDog.com Inc (OTCMKTS:JKDG)’s decision.
Why it made sense?
The company has partnered with an overseas factory that produces a number of indoor growing equipment in accordance with the specifications listed by JunkieDog.com Inc (OTCMKTS:JKDG). Some of the products that will be made available on the company’s platform will be light fixtures, bulbs, fans, grow tents, thermometers and other tools of production. The company has already received the shipment of the said products and is gearing up to launch them on its online portal.
The company’s CEO Roberto Luciano mentioned that their decision came following the 1.5 million purchases recorded in the cannabis market last year. He added that it made sense for them to offer related equipment to a large number of potential consumers. The stock of JunkieDog.com Inc (OTCMKTS:JKDG) was down by marginal 0.09% to $0.110. A total number of 117,702 shares traded the exchange during the previous session.