PotNetwork Holdings Inc (OTCMKTS:POTN) made little headway during the massive bull run in the cannabis space over recent months and is now back testing longer-term support. The stock has shown massive momentum in the past and should be respected in terms of its upward mobility. But, in this case, the stock is clearly in search of a new catalyst.
As a potential candidate for such a force, the company just announced that it is preparing to list its common stock on the Canadian Securities Exchange operated by CNSX Markets Inc. As noted by the company, “The Company has engaged Canadian securities counsel to assist with the listing process. A CSE listing will allow the Company’s common stock to be dual listed in both U.S. and Canada.”
PotNetwork Holdings Inc (OTCMKTS:POTN) promulgates itself as a company that, through its subsidiary, First Capital Venture Co., engages in the research, development, and sale of hemp-derived CBD oil products. It also engages in the pre-owned auto dealership business.
The next big cannabis story to hit North America is Phoenix Life Science International (PLSI), traded in the US, but with the largest global production based in the tropics and a license to distribute worldwide. Take a look at Phoenix Life Science International PLSI), Its currently trading under $18 dollars per share on the OTC markets. Learn More Now!
The company sells its products through distributors and resellers, as well as through its Website. The company was formerly known as SND Auto Group Inc. and changed its name to PotNetwork Holdings, Inc in March 2017. PotNetwork Holdings, Inc is based in Fort Lauderdale, Florida.
Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils.
The result, according to the company, is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere.
Could it Squeeze?
As noted above, POTN just announced that it is preparing to list its common stock on the Canadian Securities Exchange operated by CNSX Markets Inc.
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 -11% 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 -6%.
Kevin Hagen, CEO, stated, “Public attitudes around the world towards CBD are shifting as a result of people and regulators understanding the benefits of CBD. Cannabis-based products, in general, are experiencing explosive growth and we have begun an aggressive expansion of our business to further drive the growth of the Company into 2019. Integral to that expansion, is our decision that the time is right to list our stock on the Canadian market. The CSE already lists many companies in our industry, making this move an extremely logical choice that we believe will significantly benefit both the Company and its shareholders, across two countries instead of one.”
PotNetwork Holdings Inc (OTCMKTS:POTN) managed to rope in revenues totaling $5.8M in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top-line growth of 78.9%, as compared to year-ago data in comparable terms.
In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($334K against $327K).
Pushing the barriers for global distribution, Phoenix Life Science International (PLSI) is the next cannabis play. Just think Canopy x 100, that is how big their plantation in the tropics will be. No lights, no green houses, just maximum growth + minimal cost = home run. Learn More Now!
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