Sugarmade, Inc. (SGMD) Prepares to Meet Growing Hydroponic Supplies Demand via Strategic Acquisitions

A surge in hemp production means big business for hydroponic suppliers. Hemp production set to massively increase in the United States this year. Increased production driving high demand for hydroponic supplies. Hydroponics companies are responding with expansion and acquisitions. Sugarmade Inc. (OTC: SGMD) (SGMD Profile) has strategically acquired several companies to meet demand and expand its foothold. Canadian-based Tilray Inc. (NASDAQ: TLRY) has expanded production in both Canada and Europe while Canopy Growth Corporation (NYSE: CGC) (TSX: WEED) is developing projects in the United States, and Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has received massive outside investment to fuel its growth. Companies such as Aphria (NYSE: APHA) (TSX: APHA) are enlarging their indoor grow operations as they too rush to meet demand.