PURA
Cannabis

Puration Inc (OTCMKTS:PURA) A Breakout Play On Growing EVERx CBD Sales

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.

PURA Daily Chart

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.

We will be updating our subscribers as soon as we know more. For the latest updates on PURA, sign up below!

Disclosure: We have no position in PURA and have not been compensated for this article.

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Puration Inc (OTCMKTS:PURA) A Breakout Play On Growing EVERx CBD Sales
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