Monarch America Inc (OTCMKTS:BTFL) CEO, Eric Hagen, recently announced developments and accomplishments of his company. The CEO announced that his company achieved a number of corporate goals set out for the past year, making his company grab a good hold of the cannabis market. One of the most prominent achievements of the firm was the acquisition of the distribution agreement with Colorado Business Associates LLC for MiraClays.
Much of the growth experienced by the company was in the legalized cannabis industry, but it was also able to develop its image as a publicly traded firm. The stock of the company remained high till the day of this announcement, but slowly started to fall. This comes even after the company’s transaction to buy “The Big Tomato Hydroponics” and the addition of $1.9 million, with new financing commitments, was made public. However, these were the only achievements that put the company on a stable footing.
The fall of the company in the stock market is not a good sign, especially at a time when it looks to expand to different states. The plans for an introduction of new products and increasing the awareness of cannabis products will have to be put on hold as the company recovers. This is not the first time in the year that the company has crashed in the stock market.
The fluctuation might be due to confusions amongst the investors. Some might think that the company is taking too much in its plate while others believe that it is a sign of determination and motivation to work harder. Similarly the merger with “Big Tomato” might be seen in two different ways. First the company has had a poor financial year before the merger and is also not ready to become a brand name in indoor gardening. The other view is that Monarch America Inc. finally has some definite operations to work on.