PotNetwork Holdings Inc (OTCMKTS:POTN) is red hot. Period. The driver for POTN in this meteoric rise has been strong financials and production numbers. This week, the company released updated revenues that beat expectations. This is exactly what investors in the cannabis space want to hear. POTN is up more than 20% for the day and over 900% over a 30-day span. Not to mention, the volume for POTN has been extremely strong with the average 10-day volume at 23M.
POTN’s subsidiary, Diamond CBD, Inc., accumulated approximately $14.5 Million in revenues for calendar 2017. Earlier Company projection had been for $8.3 Million, which were exceeded by over 70%, due to rapid month-over-month growth in sales.
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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“2017 has been a phenomenally successful year for us! Our unprecedented sales growth pays tribute to the hard work of our staff and our resellers, and the exceptional quality of our CBD product line which expanded greatly over 2017,” stated Richard Goulding, Chief Executive Officer, POTN. He added, “We are poised to continue 2017’s growth during 2018 as we embark on new and unique marketing initiatives and embrace new opportunities with the potential of providing strong returns on investment for our shareholders.”
POTN has room to grow here. The stock is approaching .80 and could push past that if momentum carries next week. An audit and an uplisting are possibly on the horizon and this could be the catalyst to take the cannabis stock to the next level. Less than three months ago, POTN was trading at a few pennies and now it is within range of a dollar.
Commanding a capital value in the market of $39.54M, POTN is the little engine that could in this space. The company has started to figure out what works for them and we expect that as more legalization rolls out across North America, POTN will be putting CBD oils on shelves in dispensaries wherever they can. 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.