PURA Stock Rangebound Despite Several Positive Developments

PURA stock

PURA stock has been moving within a low range over the past few months despite several positive developments. So far this year, Puration Inc (OTC:PURA) has been moving between $0.10-$0.075. At the time of writing, PURA stock is trading flat at $0.079.

The company came up with its first beverage around two years ago, and since then, they have come up with many more, including the one in collaboration with Kali-Extracts that has proven to be a massive success.

Revenue Growth

It is well known that the cannabis industry is all set to grow at a breakneck pace in the years to come and in that regard, PURA stock has managed to ride the wave with its signature cannabis beverage products.

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Puration released its 2018 financial statement, and impressive numbers show that there is growth ahead thanks to the line of products that the company is involved in selling. For the year ended December 31, PURA generated revenues to the tune of $1.5 million, while the profits stood at $500,000. However, what is more important is the fact that the company’s revenues grew by a staggering 350%.

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Kali Collaboration

PURA has its own proprietary cannabis extraction method used for infusing into standard beverages. For the latest product, it used an extraction process that has been patented by Kali.

The hyper growth that has been enjoyed by PURA stock is perhaps largely down to the strategic collaboration that it has struck up with Kali. According to the statement released by the company, the use of Kali’s patented cannabis extraction process has allowed it to come up with the clearest cannabis-infused beverage, and needless to say, the beverage in question has driven sales to new heights. The statement went on to add that the collaboration is now helping them to venture into a range of new beverages.

The company believes that the products being brought into the market will find good traction with the ultimate customers and contribute further towards the company’s revenues this year.

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Featured image: DepositPhotos © VadimVasenin