The cannabis sector may not have had a particularly great time in recent months but some stocks may still be worth tracking and one of those is possibly the Marijuana Strategic Ventures Inc (OTCMKTS:MSVI) stock. Following a key announcement from the company yesterday, the stock went up by as much as 15% for the day.
Trading Data
On Tuesday, MSVI stock gained 15% to $0.0978 with more than 32K shares, compared to its average volume of 124K shares. The stock moved within a range of $0.0934 – 0.0990 after opening trade at $0.0980.
Marijuana Strategic Ventures, Inc. (OTC: MSVI) Now Mushrooms Inc., Announces Filing of Provisional Patent for Novel Mycelium Thread
The company, which is now known as Mushrooms Inc, announced yesterday that it had filed the provisional patent for its Novel Mycelium Thread. However, in addition to that, the company provided further updates with regard to the product.
Yesterday, it also provided an update with regards to the fact that on August 22 it had filed a provisional patent with the United States Patent Office for the exclusive license agreements for all rights to the Novel Mycelium Thread. The company decided to go for a patent since it believes that it had managed to come up with a unique method for creating mycelium threads.
In addition to that, Mushrooms Inc also believes that mycelium threads could also go on to bring about an era of a whole new textile material that could eventually replace the fabrics which are in use now.
Key Quote
Kimberly Carlson, CEO of Mushrooms Inc., said, “With only 2 weeks of growing time, we are looking at an efficient break down process for agricultural waste with high volume product output to feed directly into current methods of textile production. I am excited to work in collaboration with the intelligent mycelia, embrace its natural ability to break down waste, and enable designers to showcase the beautiful bi-product in familiar textile applications. Implemented correctly, this could have a positive global impact in countries burning high fiber or high cellulose agricultural residue.”
