Puration Inc (OTCMKTS:PURA) is rallying upwards of 80% over the last five days. There are a few key drivers here on price as the company has been fairly active in the cannabis sector on two separate front.
The first is their continued growth of their EVERx CBD Water brand. The company announced recently that the water brand would be front and center at Arnold Schwarzenegger’s Arnold Sports Festival and would be a sponsor of Jan Tana’s Body Painting Revolution. This bodybuilding festival attracts more than 200,000 fans and should be a nice way for the brand to get some spotlight. The brand will also be traveling to Europe for an important EXPO. According to the release, “After achieving its first million dollars in sales, PURA recently updated its EVERx formula and introduced new packaging with a new EVERx logo. The new formula and packaging were launched last week at an event hosted by North American Cannabis Holdings (USOTC: USMJ) at West Coast Ventures Group Corp’s (OTCQB: WCVC) Illegal Burger in Denver. Look for more news coming soon on EVERx’s upcoming launch in Europe.”
Puration Inc (OTCMKTS:PURA) bills itself as a company that engages in the design, development, production, marketing, and distribution of personal or individual water purification products.
The company’s personal water filtration systems include personal water filter bottles, sports bottles, collapsible water pouches, portable purification devices, portable biological filtration devices, replacement filters, and travel filters. Its products also include water filter pitchers, canteens, shower head filters, water filter pumps, and air-to-water machines.
Puration Inc. sells its products under the Filter 2GO brand. The company was founded in 2011 and is headquartered in Dallas, Texas.
Company materials note that Puration, Inc. is a leading Texas-based, CBD-infused beverage provider. The Company’s flagship product, EVERx, which was introduced in 2017, targets the sports nutrition market. Puration plans to introduce new beverages as well as grow it product portfolio organically as well as through targeted acquisitions. As of October 2018, the Company was set to spin off its cannabis cultivation segment to focus its efforts exclusively on its high-growth core CBD-infused beverage business.
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Recently, Goldman Small Cap Released a Research Report on PURA noting “PURA is one of the leading players in the fast-growing CBD-infused beverage arena. In fact, Puration’s flagship product has enjoyed 600% sales growth since its introduction in 2017. Leveraging this growth, Puration plans to execute M&A and introduce new beverage products. With double the number of CBDs found in most beverages, PURA’s EVERx CBD Infused Sports Waters reduce pain and muscle soreness.”
PURA has strong momentum in the space and really represents a great buyout candidate as more and more big name consumer brands enter the cannabis space in the next year or two.
With a market capitalization of $70.26M, PURA has 559.88M shares outstanding. The company is pulling in trailing 12-month revenues of $987K. After some of the recent publicity cycles through the news, it will be important to note which directions this stock heads. 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 $PURA 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 $PURA, either long or short, and we have not been compensated for this article.