Growblox Sciences Inc (OTCMKTS:GBLX) jumped 34% Monday after their recent news continues to be digested. Cannabis sector traders swung back around to GBLX today and saw that this company doubled the average industry yield per active flower light. The average yield for every flower light is 1.5 pounds and GBLX is yielding 3.0 pounds per light. The company has touted their superior growing methods and equipment in the past, but now they are starting to back that up with solid data.
The COO Kevin Kuethe explains, “Our state-of-the-art modern growing facility and techniques create and control the growing environment. Inside that environment, our growers bring a deep experience and understanding of the plant. The combination of a state-of-the-art precision growing environment and having a dedicated and harmonious team operate that environment, enables us to consistently produce yields that are double the industry average.”
Growblox Sciences Inc (OTCMKTS:GBLX) is a Las Vegas-based firm that frames itself as a company that focuses on the research and development of medical cannabis drugs and treatments.
GBLX claims to produce measurable medical-grade cannabis, cannabis concentrates, and cannabinoid therapies through using various technologies in plant biology, cultivation, and extraction techniques combined with biotechnology.
It also claims to be involved in the development of controlled-climate indoor agricultural technology growing and cultivation suites, including TissueBLOX, GrowBLOX, CureBLOX, and ExtractionLAB.
According to company materials, “GB Sciences, Inc. (GBLX) is a diverse cannabis company, focused on cultivation as well as biopharmaceutical research and development. The Company’s goal is creating safe, standardized, pharmaceutical-grade, cannabinoid therapies that target a variety of medical conditions.”
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Kevin Kuethe of GBLX also added, “Our custom concentrated nutrient blends are a key element in the process. After all, it is the nutrition that keeps the plants healthy, and each strain eats a little different blend of nutrients to maximize the genetic potential of each of our strains. Because we measure and monitor the exact amounts of every aspect of the plant’s life, we can scientifically determine how to maximize the yields. We operate our precision controlled growing environments for maximum consistency, quality and yield.”
In other news, GBLX has also exceeded gross sale projections that were $320k to a whopping $500k. The company has turned around the operation and traders are starting to take notice.
In the past, GBLX has underperformed the sector and the company is now looking to turn things around.
GBLX has earned a market cap of 43.01M and has 128.03M shares out. The company has issued a few repetitive press releases recently, but still the yield numbers are promising. If GBLX can continue to expand on this momentum and show more growth, expect an even higher jump for the stock. As more color becomes clear on the name, we will review the situation and update our take. For continuing coverage on shares of $GBLX stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: we hold no position in $GBLX, either long or short, and we have not been compensated for this article.