Puration, Inc (OTC:PURA) today announced the filing of the company's 2018 year-end financial report. With more than 350% revenue growth in 2018, PURA stock jumped on the news. It is currently up around 10%.
PURA Stock Soars After 2018 Financial Report Released
On April 16, Puration reported more than "$1.2 million in revenue for year-end December 31, 2018," according to Globe Newswire. The Dallas, Texas-based company, which designs, develops, and distributes products that improve the quality of water, also reported more than $500,000 in net profit.
According to Puration, the nearly 400% revenue growth in 2018—the company saw $300,000 in revenue in 2017—can be attributed to EVERx CBD Sports Beverage. The EVERx CBD Sports Beverage has 10mg of CBD per 500ml bottle and saw commercial success in 2018.
Wait, There's More
Reporting more than $1.2 million in revenue was enough for PURA stock to jump today, but the company provided additional reasons as well.
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Puration said that as 2019 rolls on, it expects the interest in cannabis beverages to keep growing. As a result, Puration is working alongside Alkame Holdings (OTC:ALKM) to increase output capacity, as well as North American Cannabis Holdings (OTC:USMJ). With news about increases in revenue and more opportunities in a fast-growing market, it's unsurprising PURA stock jumped today.
PURA Stock
According to Yahoo Finance, as of 12:13 PM, PURA stock is up 10.06%. Earlier in the trading day, PURA stock was seen up as high as 13%.
Keep Your Eyes Peeled
Globe Newswire has said PURA will release an online shareholder report on Friday, April 19, which will include more details about the company's growth last year. There will also reportedly be information about Puration's work with Alkame Holdings in creating new cannabis beverages. If you're a cannabis investor, this might be something worth keeping an eye out for.
Stay tuned. Perhaps the additional report will send PURA stock in the double-digits again on Friday.
Featured image: Pixabay
