Puration Inc (OTCMKTS:PURA) A Breakout Play On Growing EVERx CBD Sales
02 March 2019 - 6:50AM
InvestorsHub NewsWire
ByJim
Bloom
Re-Published March 1, 2019
March 01, 2019 -- InvestorsHub NewsWire -- Puration Inc
(OTCMKTS:PURA) bounce-back after a steep pullback
is gaining momentum, as investors react to improving underlying
fundamentals. The upward momentum has gathered steam, in recent
sessions, a development that has seen the stock power through
critical resistance levels.
PURA Price Analysis
After plunging to the $0.07 level, early in the year, the stock
has bounced back on a 50% plus rally. The spike has come at the
back of renewed investor interest, on the company announcing plans
to strengthen its product line. Investors have continued to
push the stock up the charts having emerged it is going global with
its EVERx CBD Sports Water product.
The company has also confirmed plans to double production of
EVERx CBD Sports Water after registering wholesale record orders in
December. The product has reached the $1 million milestones on
annual sales and still growing.
Investors have continued to push the stock up the charts in
anticipation of robust revenue growth as the company continues to
pursue new sales opportunities. After bottoming out from the $0.007
mark, the stock has rallied by more than 50% affirming suggestions
that a sell-off that had threatened to push it to all-time lows has
lost its edge.
After the recent spike, the stock faces immediate resistance at
the $0.13 mark on further movements on the upside. A rally followed
by a close above the critical resistance level should affirm the
emerging uptrend. It should also set the stage for buyers to come
in and push the stock back to 52-week highs of $0.25.
Below the $0.13 mark, Puration remains vulnerable to further
drops given the underlying bear trend that affirms short seller’s
control. Immediate support on sell-offs is seen at the $0.07 mark,
below which short sellers would regain control to push the stock
lower.
PURA Background
Puration is a cannabis-focused company that designs, develops
and distributes water purification products. Its pipeline of
products includes personal water filtration systems made up of
personal water filter bottles, sports bottles, and portable
purification devices.
Recent Developments
The stocks sentiments among investors have inched higher in
recent weeks on the company confirming it did receive a record
number of wholesale orders for its EVERx CBD Sports Water last
year. The product has already clocked the $1 million mark on sales,
helped by growing demand from distributors.
In a bid to address the growing demand for EVERx, Puration is in
the process of doubling up its production capacity. The increased
production would be packaged in the new EVERx CBD Sports Water
Bullet Bottles.
The company has also entered into a strategic partnership
with Kali Inc (OTCMKTS:
KALY) for the development of a 25mg CBD formula
that is to act as a new CBD infused water product. The two have
already signed a $1 million agreement to produce CBD infused water
for Generex Biotechnology.
“The recent retail sales reports we’ve received from
distributors are nothing short of remarkable. The company has set a
goal of $5 million in annual sales for 2019, and these first retail
sales reports redouble confidence in our sales goals. In response
to the recent retail sales, we have doubled our EVERx production
schedule in anticipation of higher than anticipated
demand,” said Brian Shibley, CEO of
Puration.
European Expansion
Puration has also set sights on Europe a market in pursuit of
revenue opportunities. Its EVERx CBD Sports Water is to be featured
at a trade show in the region as part of a marketing campaign.
“Our EVERx sales are exploding. We are signing new
distributors in new regions across the United States, and we now
have our first distributor in Europe. Stay tuned for an upcoming
announcement about our participation in an annual event that is
near and dear to our hearts here at PURA,” said Mr. Shibley.
Bottom Line
After a long period of consolidation, Puration is showing signs
of bottoming out as a break out play. The company transitioning
into a revenue-generating entity is a development that continues to
excite the markets. Reaching $1 million milestones on EVERx sales
affirms the company’s growth metrics as it expands its footprint in
pursuit of opportunities in Europe.
Puration has bottomed out after a steep pull back and now looks
set to continue climbing the ladder as investors take note of the
improving fundamentals. A close above the $0.13 mark should affirm
the stock’s long-term prospects as a bounce-back play.
Original Source: https://insiderfinancial.com/puration-inc-otcmktspura-breakout-play
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