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Naturally Splendid: Will this Hemp Stock Benefit From Expansion Plans?

Naturally Splendid: Will this Hemp Stock Benefit From Expansion Plans?Hemp stock Naturally Splendid Enterprises (NSP.V) is a cannabis company with a focus on producing nutrition-packed hemp-based food. Its products are sold under the brands Natera Sport, CHII, Natera Hemp Foods, Woods Wild Bar, and Elevate Me. Interestingly, the company also has a proprietary technology that is used to extract healthy omega 3 and omega 6 oils from hemp seeds. The company has a strong foothold in the hemp industry but will this hemp stock benefit from expansion plans?

Bulk hemp seeds export to South Korea boosts investor sentiment

Naturally Splendid: Will this Hemp Stock Benefit From Expansion Plans?

In the latest development in the previous week, Naturally Splendid finalized a purchase order for 20 tonnes of hemp seed targeted at South Korea. Since March 2020, this is the third shipment of this quantum to South Korea.

Naturally Splendid is quite upbeat about its market in South Korea and aims to introduce more product lines in this region. Naturally Splendid CEO Mr. J. Craig Goodwin indicates, “In addition to exporting bulk hemp seed, we are investigating opportunities for distribution of other Company products to South Korea.” This news spurred investor optimism and led an increase in the hemp stock by nearly 12% in the OTC segment.

Naturally Splendid looks at strengthening its online presence

Naturally Splendid is on an expansion spree and apart from capturing new markets globally, the company also wants to strengthen its e-commerce presence. A few weeks back, the hemp seed company entered into a deal with boutique consultant Atlas 365 for strong online promotion of the health food products. The focus of this campaign featuring professional athletes was the Natera Sport ProCurc 30 product, launched in February 2020.

Plans to focus on sales of high-margin products

Naturally Splendid

Its first-quarter results were tepid, as the cannabis company saw a 7% YoY (year-on-year) decline in its revenue, while its loss expanded amid the COVID-19 pandemic. Naturally Splendid also reported a softer gross margin because the hemp company had changed its sales mix and included a majority of low-margin export of bulk hemp seeds.

However, the hemp stock has revealed that it would now focus on a mix of products with higher margins, new commercial opportunities while expanding its bulk hemp seed export.

Naturally Splendid betting high on plant-based foods, a drug for COVID-19

Naturally Splendid has a strong foothold in the hemp industry and the company is actively adding new offerings including plant-based formulated foods. The hemp company is actively looking at continued expansion in this market too.

Naturally Splendid revealed that it has also suspended cannabis extraction and cannabis edible opportunities to focus solely on the rapidly growing plant-based foods market.

The company, in a joint-venture with Biologic Paramedical Research, is all set to develop a drug, Covaltinib, for the treatment of COVID-19. Naturally Splendid is expediting clinical trial application as per a plan already submitted to Health Canada. If the result is positive, it will add another feather in the cap for this hemp stock.

According to Naturally Splendid, it has adequate finances to support expansion plans. Though the market for hemp stock (and most other hemp stocks) at the moment is risky, in the long-run, prospects for the hemp company look impressive. According to the CEO, Craig Goodwin, the pandemic, shortage in meat production, and shift in dietary preference towards plant-based food will benefit the company in the long run but time will tell!

Naturally Splendid: Will this Hemp Stock Benefit From Expansion Plans?

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