Sometimes even the announcement of relatively positive news could have an adverse impact on the stock price and that is what seemed to have happened with the Green Concepts Inc (OTCMKTS:INKW) stock on Wednesday.
Yesterday, the company announced that it was in the final stages of preparing for the launch of its beverage product Happy Mellow Immune Support by the end of this year. It was a significant announcement from the company but investors were not particularly excited about it and the Green Concepts stock tanked by as much as 8% as a consequence.
However, it is also necessary to take a closer look at the larger picture. The product in question is a hemp infused beverage and it is a market that is expected to grow rapidly. As per research from the firm Meticulous Research, the hemp based beverage market is expected to hit a valuation of a staggering $216.8 billion by 2028.
The Happy Mellow Immune Support beverage is meant for supporting the health of customers at critical times. Lenny Greene, the Chief Executive Officer of the company, spoke about the development as well. He stated that the company took its time in order to ensure that the beverage was developed in the right way.