Shares of PotNetwork Holdings Inc (OTCMKTS:POTN) have been pulling back, but may have put in key support last week and could be worth a look. The stock is a former high-flier and a well-known name in the CBD space through its Diamond subsidiary. To add more color, the company just announced that it has entered the Coffee segment, an industry expected to reach revenues of $46 Billion in 2018.
According to the release, “Produced in accordance with a universal K-Cup design, these pods fit in almost all modern single cup coffee makers, making it an easily integrated enhancement to any environment, delivering 25mgs of CBD in a tasty favorite beverage at less than $5 per cup. This new line of premium Chill Coffee Capsules was recently added to the Company’s broad range of cannabinoid and natural hemp products. Each box comes with 4 individual capsules in original chill coffee, decaf chill coffee, chill black tea, and chill green tea flavors. The unit price for each box is $10.00 USD, with MSRP at $19.99.”
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 has entered the Coffee segment, an industry expected to reach revenues of $46 Billion in 2018.
Traders will note 20% during the past week in terms of shareholder gains in the name. Furthermore, the company has seen interest climb, with an increase in recent trading volume of 63% over what the stock has registered over the longer term.
“The cannabis industry is growing at an explosive rate,” said Kevin Hagen, CEO of PotNetwork Holdings, Inc. the parent company of Diamond CBD, Inc. “Wanting to give customers an experience that they could enjoy, our aim is to be hemp industry pioneers bringing innovative hemp-derived products to the whole world. Since drinking a hot cup of coffee is usually the average person’s initial start to their day, we considered what America is still passionate, infused with the CBD edge that they enjoy.”
Currently trading at a market capitalization of $67.13M, POTN has a stash ($248K) of cash on the books, which is balanced by 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%. We will update the story again soon as further details emerge. 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.