First Foods Group FIFG Stock News

Since cannabis started to heat up, companies just mentioning that they are considering an entrance into the space have seen tremendous gains. Unfortunately, many of these are fly-by-night, nothing but a hope and a dream type of companies. Nonetheless, if you want to get in on the early stages of a strong cannabis play, you’ll want to look at First Foods Group Inc (OTCMKTS: FIFG).

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What Is First Foods Group

First Foods Group is a company that is quickly working its way into the emerging cannabis and CBD sector. However, unlike many that are operating on a hope and a dream, FIFG recently announced that it has a full scale operating facility and has made its first sale.

In a press release issued in the pre-market Wednesday, June 19, 2019, the company provided an interesting update. Here are the key points that I pulled out of the update:

Big Box Goals

If you’ve followed my work in the cannabis space, you know that I’ve got a very bullish opinion of Veritas Farms (OTCMKTS: VFRM). This opinion is largely the result of the company’s work to bring its products into big-box locations. Work that’s producing serious results, might I add.

Well, it looks like First Foods Group will be following along those same lines. In the release, Harold Kestenbaum, CEO at FIFG, said:

Over the past year, First Foods Group has structured and put to work a team of first-rate professionals to develop and launch our luxury and big-box positioned, gourmet chocolate that is compatible with both CBD and THC offerings.

This is a big statement as I believe that positioning products for sales in big-box locations is going to be the key from being a player in the emerging market and being a leader in the long-term market. With a positioning to bring its products to the big-box store shelves, the potential is incredible. Let’s not forget, experts are expecting the CBD market to grow to $22 billion in the coming years, bringing us to our next point.

Commercial Operation In CBD Has Begun

FIFG isn’t just a company with an idea. The company actually has a commercial process that has begun. The comapny’s operations are taking place in a facility that it found in Broward County, Florida that was already fully furnished with state of the art, food-grade manufacturing equipment.

Moreover, not only is the company manufacturing products, it announced its first completed order of its first three products. The order included over 3,000 pounds of chocolate and generated revenue in the amount of $30,000. First Foods Group expects that it will continue to close further sales in the third quarter and quarters to come.

Through the use of high-end ingredients, the company is creating luxury proucts. Of course, this is good news as luxury products with the right branding generate high-dollar sales.

The Bottom Line

The bottom line here is that First Foods Group is making an entrance into the cannabis edibles market with a wave. Not only did the company announce that its manufacturing facility was up and running, it announced the completion of its first sale, driving its first revenues and opening the door to potential big-box store placement.

While FIFG is still young, the entire market is. Ultimately, those making and selling products with a big-box focus, not those talking about getting involved in the near future, are the companies that I believe have the most potential to create long-term value.

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What Do You Think?

Where do you think FIFG stock is headed moving forward? Join the discussion in the comments below!

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