Veritas Farms (VFRM) is a stock that has been on my radar for some time, and I’m glad it has. When I first picked up the story, the stock was trading at under $0.40 per share. However, today, the stock is trading around $0.75 per share, showing incredible growth over the past month and a half or so.
Nonetheless, in my opinion, it doesn’t look like that growth is going to come to an end anytime soon. While the company hasn’t been so outspoken about their efforts to get into big box stores, their work is starting to pay dividends and I’m expecting to see strong growth in revenue as a result.
Readers Mention Bed Bath And Beyond As Well As Walgreens
I first noticed the company’s big-box retail strategy on April 4, 2019, when the company issued an update with regard to packaging and labeling. Sure, the update was great, but the big story was found when you read between the lines.
In the press release, the company mentioned that its products were featured on several online stores as well as within various brick and mortar locations around the United States. Importantly, the company named CVS as one of these brick and mortar locations, becoming the first publicly traded CBD-focused company that announced an entrance into the big-box space.
Why the announcement was so subtle, I’m not sure. Some argue that with big-box stores, the company can’t go public without violating the agreements that got its products on the shelves in the first place.
Nonetheless, it looks like there’s quite a bit more to be proud of. Since running that feature, I received several emails from readers saying that they’ve seen the company’s products in Bed Bath & Beyond locations as well as Walgreens locations.
While the company hasn’t issued any news about these agreements, I have reached out to the specific locations mentioned by our readers, and am able to confirm that VFRM products are officially in multiple big-box locations.
So far, we can confirm the following:
- CVS – In various press releases issued by VFRM themselves, we have seen that the company’s products are now in select CVS stores across the United States.
- Bed Bath & Beyond – There are various stores that we have called and all said that while Veritas Farms is a vendor in their system, the specific stores that we called do not carry the product. So, what we know here is that select Bed Bath & Beyond locations are carrying the company’s products, we’re just not sure as to which ones.
- Kroger – I have received multiple comments from readers saying that they have seen Veritas Farms products not only in Kroger, but in the company’s other brands like Dillons and Kwik Shop. I have made several calls and have been able to confirm at least 1 Kwik Shop location that is carrying the brand. Considering this, I’m expecting that the reports that Kroger and Dillons (sister and parent companies to Kwik Shop) are carrying these products are likely true.
- Rite Aid – Finally, I was able to confirm that Veritas Farms brand full-spectrum CBD products are now being carried at select Rite Aid locations.
The Bottom Line
The bottom line here is simple. While many CBD-focused companies are centering their marketing efforts around head shops and convenience stores, Veritas Farms seems to be making an incredibly smart move by tackling the big box market. While this strategy is a difficult one, the company seems to be having incredible success. As this strategy continues to get its products featured in these large stores, chances are that revenue is headed up moving forward!
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