A new player on the CBD, cannabis, and hemp scene that you might want to check out is Elixinol Global Ltd (OTCMKTS:ELLXF). The company just announced that it achieved a milestone in the U.S. by reporting retail sales approaching seven figures over the Thanksgiving shopping holiday.
According to the release, “The record revenue was buoyed by increased U.S. consumer demand and Elixinol’s annual U.S. “Buy One Get One” promotion over the U.S. Thanksgiving holiday shopping weekend.”
Elixinol Global Ltd (OTCMKTS:ELLXF) trumpets itself as a company that engages in the industrial hemp and medicinal cannabis business in Australia.
It manufactures and distributes industrial hemp-based dietary supplements and foods, and skincare products; and medicinal cannabis. The company is based in Sydney, Australia.
Moreover, Elixinol Global Ltd. engages in the industrial hemp and medical cannabis business in Australia. It manufactures and distributes industrial hemp-based dietary supplements, foods, and skincare products in the USA.
According to the company materials, “Colorado-based Elixinol, co-founded by Paul Benhaim, hemp entrepreneur since 1991, is widely regarded as one of the most influential CBD brands in the world. With a proven track record of growing and extracting premium-quality hemp, Elixinol is one of the few CBD hemp extract brands with complete seed-to-sale control over its products. Elixinol also conducts rigorous third-party laboratory testing and quality control. Elixinol distributes hemp-derived CBD products in 40 countries including North and South America, throughout Europe, Asia, and the Pacific Region under its own label and bulk CBD and wholesale CBD. Elixinol’s parent company EXL (elixinolglobal.com) is publicly traded on the Australian Securities Exchange and on the U.S. OTC (ASX:EXL, OTCQX: ELLXF).”
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As noted above, ELLXF just announced that it achieved a milestone in the U.S. by reporting retail sales approaching seven figures over the Thanksgiving shopping holiday. The chart shows 6% tacked on to share pricing for the company in the past month. ELLXF has been through some pressure over the past week. But the news has helped to repair that damage and reset the action in terms of the past week’s performance.
What’s more, the listing has seen interest climb, with an increase in recent trading volume of just shy of 170% beyond what we have been seeing over the larger time frame. Traders should note this as important with the stock trading on a float that is limited at just 21.9M shares.
“I co-founded this business with a global vision to give everyone, from individuals to organizations, the opportunity to enjoy hemp’s restorative benefits,” said Paul Benhaim, Elixinol Global CEO and Elixinol co-founder. “Our commitment to doing the right thing for the right reasons really shines this time of year,” he continued.
“A foundational value of Elixinol is ‘Do-Good, Feel-Good.’ The entire Elixinol team is proud of the charitable contributions to organizations important to our customers,” said Chris Husong, Elixinol Director of Marketing.
At this time, carrying a capital value in the market of $186.15M, ELLXF has a significant war chest ($14.2M) of cash on the books, which must be weighed relative to about $4.3M in total current liabilities. One should also note that debt has been growing over recent quarters. ELLXF is pulling in trailing 12-month revenues of $14.9M. However, the company is seeing recent declines on the top-line on a sequential quarterly basis, with revenues falling at 0% as of its latest reporting period. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ELLXF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $ELLXF, either long or short, and we have not been compensated for this article.