First Foods Group, Inc. (OTCQB: FIFG) operates as a holding company that focuses on the acquisition, sales, and marketing of cannabidiol (CBD) products through its subsidiary, Southeast Edibles. The company maintains a state-of-the-art facility in Fort Lauderdale, Florida, which allows First Foods Group to create its infused premium chocolate edibles.
Shares of the CBD holding company jumped 40% during trading on Wednesday, December 1, 2021. Over the past thirty days, First Foods Group has seen average daily volume of 2,274 shares. However, volume of 1.15 million shares or dollar volume of around $270,825, exchanged hands during trading on Wednesday.
The CBD company’s shares rallied after announcing the launch of its Southeast Edibles product line onto Costco.com, the e-commerce website of Costco Wholesale Corporation (NASDAQ: COST). The initial launch will feature First Foods Group’s CBD-infused chocolate products, including Chocolate Immunity (immune support), Chocolate Boost (energy support), and Chocolate Fighters (antioxidant support).
Each order will be fulfilled and shipped directly to the customer by First Foods Group. The company’s products will be in a special grouping that features a six-pack of large tins with 36 pieces of chocolate in each.
Harold Kestenbaum, CEO of First Foods, stated, “We are honored to partner with Costco.com to initiate the sale of our functional chocolates. Our strategic alliance with Costco marks a turning point for First Foods Group as we continue to build the brand regionally with a long-term focus on national expansion. We recently increased our manufacturing capabilities and inventory levels to support the initial roll out and subsequent order flow.”
The Costco announcement comes less than a week after Mr. Kestenbaum announced a bigger push into the e-commerce space. In addition to its brick-and-mortar partners, First Foods Group can now add Costco and Amazon to its list of e-commerce partners.
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