Schwazze (OTCMKTS:SHWZ), has announced on April 1, 2022, that its operating subsidiary, R. Greenleaf, a licensed medical cannabis provider, being all set to commemorate the first adult recreational cannabis retail sale in Las Cruces and Santa Fe.
Trading Data
On Friday, SHWZ stock moved down 4.78% to $1.99 with more than 164K shares, compared to its average Friday of 81K shares. The stock moved within a range of $1.9350 – 2.1100 after opening trade at $2.10.
Schwazze Announces First Recreational Cannabis Sales In New Mexico
Mr. Justin Dye, Chairman and CEO of Schwazze and Mr. Steve Pear, President of Schwazze, New Mexico division, were present at the celebratory events at the Las Cruces and the Sante Fe R. Greenleaf retail locations.
Schwazze is the parent company of a portfolio of leading cannabis businesses and brands spanning seed to sale. It is dedicated to exploring the full potential of cannabis plants to enhance human health. In fact, the company name is derived from the pruning technique of a cannabis plant to improve plant structure and promote healthy growth.
The company is anchored by a high-performance culture that combines customer-centric thinking and data science to test, measure, and drive decisions and outcomes. R. Greenleaf, its operating subsidiaries has ten dispensaries, four cultivation facilities, and one manufacturing location in New Mexico.
New Mexico authorized the sale of adult use recreational cannabis via the Cannabis Regulation Act which passed the Legislature in 2021. The market is expected to grow approximately by a whopping 300% in the next 5 years!
Technical Data
SHWZ stock is trading above the 20-Day and 50-Day Moving averages of $1.84 and $1.66 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.97.
