In the past week, the Red White & Bloom Brands Inc (OTCMKTS:RWBYF) stock has suffered from a selloff and actually declined by as much as 16%. The cannabis company, which operates in multiple states, may have seen its stock tank but it might be the right time for investors to figure out if it could be an opportunity to get into the stock.
Yesterday, it emerged that that Red White & Bloom Brands acquired a completely operations greenhouse in Apopka in Florida. It is a significant acquisition for the company considering the fact that it is currently looking to grow its cultivation as well as production capacity in the state of Florida.
It should be noted in this regard that Florida is one of the more lucrative cannabis markets in the United States and an expansion in that market is an important development. The greenhouse in Apopka spans across an area of 45000 square foot and is located on a parcel of land that measures as much as 4.7 acres. It has also been announced that Red White & Bloom Brands is going to develop the greenhouse fast so that it can be ready for the harvest season in the fourth quarter of 2021.