NightFood Hldgs Inc (OTCMKTS:NGTF) is exploding up the charts as investors come to realize that it is one of the only pure plays on cannabis edibles. Excitement surrounding the cannabis space keeps increasing and NGTF is one of the hottest plays right now. In just two days, the stock has more than doubled and has investors asking what’s next.
First up, a little background info for those that are not familiar with NGTF. Nightfood Holdings, Inc. (OTC: NGTF), owns Nightfood, Inc. and MJ Munchies, Inc. Nightfood, Inc, “The Nighttime Snack Company”, is currently rolling out its line of nighttime ice cream across the country.
Ice cream is now the 2nd most popular night snack choice. Almost half of all consumers reach for ice cream at night, and it is estimated that 80% of all at-home ice cream consumption occurs shortly before bed. Available in 8 delicious flavors, Nightfood® ice cream can help consumers satisfy nighttime cravings in a better, healthier, more sleep friendly way.
MJ Munchies, Inc. was formed in 2018 as a new, wholly owned subsidiary of Nightfood Holdings, Inc. to capitalize on legally compliant opportunities in the CBD and marijuana edibles and related spaces. The Company intends to market some of these new products under the brand name “Half- Baked™”. Munchies is currently preparing a patent application with the USPTO for a proprietary ingredient to be used in Half- Baked™ snacks that Management believes will give it a unique and defensible competitive advantage against other recreational edible brands. The Company believes tremendous opportunities currently exist to launch successful and legally compliant products in this space, and that such opportunities will continue to grow over time.
There are a few factors that have gotten the market excited about NGTF. The first is the company’s uplisting to the OTCQB. There are a lot of advantages to being listed as a QB instead of on the Pinks. Many believe that companies listed on the OTCQB can enjoy greater liquidity due to increased transparency, more stringent reporting standards, management certification and more strict compliance requirements.
Product of the Year
Nightfood ice cream has been voted best new ice cream of 2019 in a survey of over 40,000 consumers. The annual Product of the Year survey, the world’s largest consumer-voted award for product innovation, is conducted by Kantar, a global leader in consumer research. In beating out the other finalists, consumers indicated that Nightfood’s one-of-a-kind innovation and unique value proposition made it a clear-cut winner in the ice cream space, and a brand they were highly motivated to try.
Nightfood® now has the rights to use the iconic “Product of the Year” logo on packaging, advertising, website, and in-store displays. The logo has proven to powerfully drive additional consumer trial and sales. Winners of the 32 year-old award have been shown to outperform category sales performance by over 38%.
In addition, Nightfood® will be featured in the Product of the Year nationwide publicity campaign, which averages over 350 Million media impressions annually. As in past years, coverage is expected to include The Today Show, Extra, Women’s Day, The View, The Wall Street Journal, Fox & Friends, The Wendy Williams Show, People, Woman’s World, Parade, The Huffington Post, and countless regional outlets and trade publications.
Perhaps the most exciting news is that NGTF has already shipped product to fulfill purchase orders from its first major regional supermarket chain which can only be publicly identified after product is on-shelf later this month. In addition, a regional distribution relationship was announced last week with New England Ice Cream Corporation, which distributes to thousands of outlets across New England. Management said that it expects additional distribution announcements to follow throughout the coming weeks and months.
Currently trading with a market cap of $32 million, NGTF is an exciting name among cannabis stocks. The company is one of the only pure-play edible stocks that we know about. While there are plenty of dispensary, growhouse, CBD oil, and vape stocks, NGTF stands out as a pure-play on edibles. Edibles have proven to be more enjoyable and more desirable from those that don’t want to smoke cannabis. If the company keeps executing and signing more distribution deals, NGTF could just be starting its bull run.
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Disclosure: We have no position in NGTF and have not been compensated for this article.
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