In recent times Green Globe International Inc (OTCMKTS:GGII) has emerged as one of the more interesting companies in the hemp and CBD industries. The company is involved in the manufacturing of CBD and hemp based cigarettes and more importantly, it is looking to disrupt the tobacco industry in a big way.
However, the Green Globe stock did not get off to a good start on Monday as it slumped by 6% on the back of a selloff. Yesterday, the stock slumped after the company announced that it inked a letter of intent with regards to the acquisition of a patent that could make Green Globe the first marijuana paper manufacturer in the world.
However, it seems that the company is not going to be involved in manufacturer marijuana paper on its own. Green Globe did announce yesterday that it expects to license the patent out to companies which are going to be involved in the manufacturing of machine manufactured marijuana cigarettes, marijuana rolling paper and marijuana wraps. It seems to be another step from the company in its mission to disrupt the tobacco industry. However, it seems that investors are not quite impressed with the deal from Green Globe.