EQS-News

Amid A Turbulent Industry, This Cannabis Company Shines Like A Diamond In the Rough

EQS-News: LiveWire Ergogenics, Inc. Amid A Turbulent Industry, This Cannabis Company Shines Like A Diamond In the Rough 26.10.2022 / 14:00 CET/CEST The issuer is solely responsible for the content of this announcement. The pandemic was a monumental moment for the cannabis industry as marijuana became a household essential. In many states, dispensaries were declared essential businesses and were allowed to remain open, resulting in a 46% increase in legal cannabis sales over 2019 to $17.5 billion in 2020. Entrepreneurs flocked to the scene, and investors readily backed the industry. with large investments, often time via so-called SPACs.

However, the past several months have marked a return to pre-pandemic levels. While the cannabis industry is still predicted to expand and grow, the industry is witnessing an adaption curve. Between heavy taxation, cultivators abandoning licenses, and the pressure of growing inflation, many companies have put up “For Sale” signs or are looking at tough times ahead.

A Diamond In The Rough? The Party’s Just Getting Started For LiveWire Ergogenics

LiveWire Ergogenics, Inc. (OTC: LVVV) (“LiveWire”) is a company that focuses on acquiring and managing special-purpose real estate properties that will serve as bases to help discover and develop high-end organic cannabis specialty products. LiveWire firmly positions itself in the center of the health and wellness industry.

The cannabis industry as a whole has seen a recent downturn in profits resulting in missed rent payments and cultivation facilities shutting down. While the industry as a whole is looking at positive growth, the reality on the ground for many cannabis companies may be bleak. Property deals have been falling through more frequently as companies struggle to make ends meet. Companies are facing difficulties with the slowing general economy paired with legislative challenges that plague the cannabis industry. Public policy is an uphill battle.

Despite these challenges in the market, LiveWire is prospering. Its Q2 results show solid growth and a positive future. In Q2, LiveWire generated $463,313 in revenue, which was a 323% increase from 2021’s Q2. Net profit also saw considerable growth; the company’s net profit was $183,122 in Q2 compared to a loss of $579,792 during 2021’s Q2.