We’ve actively tracked the activity in POTNETWORK HLDGS I (OTCMKTS:POTN) for a long time, and most often focus upon the company’s Diamiond CBD subsidiary, through which it markets high grade hemp-derived CBD (cannabidiol) oils, tinctures, edibles, and vape liquids.
One of the major ingredients of cannabis, and the source of CBD rich hemp oil, cannabidiol, has been formally recognized by the U.S. Patent Office as an “antioxidant and neuroprotectant”.
According to The Hemp Business Journal, the CBD 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. CBD is the fastest growing subsector of the cannabis industry, and POTN is specializing even further therein, developing CBD treatments for pets.
According to POTNETWORK HLDGS I (OTCMKTS:POTN), Diamond CBD reportedly had a very productive week at the Global Pet Expo, garnering interest from over 200 new wholesale distributors well suited to carry the brand’s groundbreaking CBD-for-pets product line, “MediPets.”
“MediPets” offers pet retailers a unique opportunity to take part in a growing trend forecasted by leading research firms to drive the global pet care industry. Wholesale distributors across the country and around the world continue to turn to Diamond CBD Inc.’s products for their innovative approach to treating health and wellness in humans, and, now in animals.
In 2017, American pet owners spent more than $69.36 billion on their pets. Of that number, nearly $15 million was spent on over-the-counter health and wellness products, a sector just enhanced with Diamond CBD’s innovative “MediPets” product line.
According to Euromonitor International’s presentation State of Global Pet Care: Trends and Growth Opportunities, the global pet care industry is expected to reach $110 billion in 2017. This report cites the increasing “humanization of pets” among pet owners as a key factor contributing to over $14 billion in incremental growth to this market over the last 5 years.
Technavio, leading market research firm, recently analyzed the global pet care industry and forecasted a CAGR of 5% between 2016-2020. According to that report, rising pet ownership combined with increased consumer spending on premium natural and organic pet care products are fundamental factors driving that growth. As consumer perception evolves, the desire to invest accordingly heightens the demand for premium nutritional and wellness supplements. Diamond CBD Inc. has structured to take advantage of the opportunity, bringing to market extremely high potency CBD oil extracts, formulated specifically for the unique needs of these family members.
“Our new MediPets line is specifically designed to manage a wide variety of symptoms in their pets with reportedly effective, non-toxic, hemp-derived cannabinoids. CBD has shown in studies to aide in a spectrum of conditions*. We are pleased to be experiencing this level of interest as we expand into this new and growing sector,” stated Richard Chief Executive Officer, PotNetwork Holding Inc. (Source: Globe News Wire)
In terms of the chart, POTN has been under consolidation for months, and is beginning to enter into oversold territory. We’ll definitely want to keep a close eye out for a potential rebound in the stock in the days and weeks ahead. 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.