We have been keeping regular track of the activities of POTNETWORK HLDGS I (OTCMKTS:POTN) here on Street Register for quite a while now. The company Diamond CBD subsidiary has been thriving, setting new company records left and right.
One of the topics of our last discussion on POTN was its strong start to the year, including a record setting pace for the month of February, and sure enough, a recent update from the company confirmed the record.
POTNETWORK HLDGS I (OTCMKTS:POTN) announced that in February, DiamondCBDInc.com, achieved over $500,000 in website- generated orders, surpassing all previous online sales records.
“Even though February is the shortest month of the year, we reached online sales higher than ever before. Our online sales today not only represent the conversion of event and promotional offers into initial sales, but a building base of repeat customer orders that reflect high consumer satisfaction of our products and the value that they represent,” stated Richard Goulding, President.
The Company’s website, PotNetworkHolding.com has undergone a major renovation and has emerged cleaner, more user-friendly, and fortified with updated and real time information including constantly updated, revenue results that will show continuous growth in the Company’s results.
When comparing results to that of last year, recent sales results show growth in the range of over 300%. Over the course of the last year, the Company’s subsidiary, Diamond CBD, has brought to market over 15CBD brands that have demonstrated high consumer brand recognition and acceptance. These brands are marketed at thousands of retail stores around the country and include CBD oils, edible gummies, vape pens, vape additives pet products, and more.
In addition, Diamond CBD has most recently unveiled a new product line, targeting a different sector of the market with Meds BioTech, which provides a specialty line to meet the demand of consumers seeking nutritional supplements.(Source: Globe Newswire)
The internal company growth is a really good sign, and it hasn’t gone unnoticed by the investment community at large. POTN has been the feature of a recent comprehensive research report projecting a price per share target of $1.25 by Harbinger Research, LLC, a notable equity research boutique based in Atlanta, whose coverage was initiated with a “Strong Speculative Buy” recommendation.
If there’s any arena in which speculating could be particularly rewarding, it’s the CBD (cannabidiol) market. With no psychoactive effects, CBD doesn’t have to contend with the same legalities and patchwork regulatory framework as legal, or even medical, cannabis. It has also been recently removed from the World Anti-Doping Agency (WADA) list of banned substances in athletics, opening up a huge market opportunity for companies like POTN.
According to The Hemp Business Journal, the cannabidiol market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. Based on some other estimates we’ve seen, that is actually a conservative figure. But make no mistake, in nearly every conceivable model, CBD is the subsector of the cannabis industry that is set to grow by the widest margins. POTN is a stock that we want to continue keeping close tabs on, with its thriving Diamond CBD subsidiary. Stay locked to Street Register for updates, and we’ll provide important developments on POTN as they unfold. In the meantime, if you’ve yet to sign up for our 100% free newsletter, do so now! Just enter your active email address into the box below and submit!
Disclosure: No one at Street Register has been compensated in any way for the publishing of this article, nor do we hold any position in POTN stock, short or long.