Friday, April 28, 2023
Joe Gomes, Managing Director, Equity Research Analyst, Generalist , Noble Capital Markets, Inc.
Joshua Zoepfel, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Webinar. We had the opportunity to participate in MustGrow’s webinar presentation on recent corporate progress, biological industry developments, and upcoming catalysts. The key takeaways, in our view: MustGrow and its partners continue to make progress toward commercialization of the Company’s unique technology; revenues could begin within 12 months; the TAM is large and growing; and stricter governmental regulations across the world highlight the need for sustainable products like MustGrow’s products.
TAM. The global pesticide market grows at a 3.5% CAGR and should hit $82 billion by 2030, with the fertilizer market growing at a 2.5% CAGR to $242 billion by 2030. But with an ever increasing movement to limit or outright ban certain pesticide and fertilizer products, the TAM for MustGrow grows even faster.
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