Another stock in the CBD space that may represent an interesting dip opportunity is PotNetwork Holdings Inc (OTCMKTS:POTN). Shares have been weakening over the past two months, and now stand to potentially test the $0.10/share level this week. To help further flesh out the story, the company just announced that it won a 2018 Pet Business Industry Recognition Award for their MediPets Dog Treats, a hemp-derived CBD treat made especially for canines.
According to the release, “The award, which came in the Dog Treats Functional Category was overseen by the Pet Business editorial team and will be announced in the upcoming December 2018 issue of the magazine. Diamond CBD continues to capitalize on the CBD market by incorporating pet treats into their product line so that cats and dogs can enjoy the health benefits of CBD as do their owners. A revolution in the health and wellness market, CBD is known to potentially help pets and their owners with numerous ailments from inflammation to pain to anxiety and more.”
PotNetwork Holdings Inc (OTCMKTS:POTN) has two wholly owned subsidiaries, First Capital Venture, the makers of Diamond CBD OILS and Sunrise Auto Mall Inc.
Diamond CBD is focused on the advanced research and development of “the industry’s finest premium hemp extracts” and making them available to the global marketplace. The Company’s “notable team”, consisting of hemp industry pioneers and natural product experts, chemists, and scientists, is dedicated to producing “the finest and purest Cannabidiol (CBD) oil.”
POTN’s message continues: “Setting the Company ahead of its competitors, First Capital Ventures Inc and Diamond CBD Inc. deliver advanced product quality to market through the team’s creation of diverse and top quality hemp extracts that contain a broad profile of cannabinoids and other natural hemp derived molecules.
The result is a robust selection of Diamond CBD Oils, made from Industrial Hemp, which enhances the formula to be considered among the most powerful natural CBD E-Liquids on the market. Sunrise Auto Mall, Inc., launched in June of 2014, as an operation geared toward enabling people challenged with bad or no credit in securing quality transportation while simultaneously rebuilding the client’s credit.
POTN has developed a highly profitable business model around the continually rising subprime lending industry. Potnetwork Holdings Inc. acting as the holding company for the present subsidiary is planning to continue to expand from within as well as through future acquisitions.”
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As noted above, POTN just announced that it won a 2018 Pet Business Industry Recognition Award for their MediPets Dog Treats, a hemp-derived CBD treat made especially for canines.
This news, while obviously helpful, figures into a tape that has been defined by distribution of late, with shares of POTN taking a hit in recent action, down about -18% over the past week. It should be an interesting battle in terms of how the stock reacts in coming days. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -45%.
“I’m so proud of this award,” said Kevin Hagen, CEO of Diamond CBD’s parent company PotNetwork Holdings, Inc. “This award just goes to show how the CBD industry is booming. Since we’ve expanded on our client-base by marketing our products to animals as well as people, the benefits have been enormous. CBD doesn’t have to limit itself to one single market and this proves that.”
Earning a current market cap value of $55.75M, POTN has a chunk ($248K) of cash on the books, which stands against about $193K in total current liabilities. POTN is pulling in trailing 12-month revenues of $22.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 33.3%. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $POTN 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 $POTN, either long or short, and we have not been compensated for this article.