NUTRITIONAL HIGH I COM NPV (OTCMKTS:SPLIF) has gotten the market’s attention this week with decent rips in upward price action. The company is a niche play in the booming cannabis industry. Oils and edibles are a small part of the sector but that does not mean their popularity is small.
The U.S. cannabis industry reached $2.7 billion last year and is expected to triple by 2019. Most importantly, the same report found about 150,000 pounds of marijuana flower sold last year along with nearly five million units of medical and recreational edible products. Many experts believe that edibles will continue to be the fastest growing industry subset given the general public’s aversion to smoking cannabis flower.
NUTRITIONAL HIGH I COM NPV (OTCMKTS:SPLIF) was trading around a nickel 10 days ago and has started a steady climb on some news. The company’s CEO outlined SPLIF’s growth plan and the market is currently digesting it. At its peak, SPLIF saw prices of .29 cents around the election and could return to those levels if the cannabis sector overcomes its recent hurdles.
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SPLIF CEO Jim Frazier has a history in the food industry where he previously built out two companies. With experience in formulation, ingredients, equipment, and manufacturing, he is working on refining the taste, texture, and overall ease of enjoyment when it comes to edible products and vape oils. According to the company, SPLIF is focused on keeping costs low enough to target the mid-range market rather than the high-end market. After all, mass-market consumers represent a much larger target market than high-end consumers with easier competition. Here is a quote from the press: “Mr. Frazier’s experience with finding the right equipment and manufacturing methods has been invaluable during this process and helped keep costs low and quality high.”
SPLIF recently opened its Palo Verde cannabis oil extraction facility in Pueblo, Colorado where it produces bulk oils and branded products. The 11,000 square foot facility has state-of-the-art technology to cost-effectively produce high-quality clear cannabis oils to compete in the mid-range market versus going into only premium or select markets.
The company has already launched its FLI branded cannabis oil cartridges throughout Colorado via direct store distribution. In the next couple of months, SPLIF plans to launch its FLI Select 90%+ THC vape pen and dabbing unit to augment these product lines. The team is also finalizing the formulation of edible products that it plans on launching after completing the packaging – a new and lucrative potential market for the company.
“We are very pleased with how the production ramp-up is progressing,” said CEO Jim Frazier in a press release. “The team has come a long way since commencing commercial production in late February and we look forward to FLI cartridges building a strong consumer market presence in Colorado, and nationally as Nutritional High establishes facilities in other states.”
SPLIF recently closed on a property in La Pine, Oregon that it intends to build into a cannabis oil extraction facility. Currently, the company is securing contractor bids and beginning to build out the facility with plans to have it operational in six or seven months.
NUTRITIONAL HIGH I COM NPV (OTCMKTS:SPLIF) is an interesting play in the cannabis sector. The company has a lot of irons in the fire here, but the industry is going through some serious growth, so if something sticks to the wall, SPLIF could be big winners. We will be updating our readers with more coverage on this company soon. For continuing coverage on shares of $SPLIF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!