Pot Network Holdings (OTCPK:POTN) continues to impress investors over the last couple of quarters. The company’s remarkable revenue growth and expansion strategies are boosting investors and analyst’ confidence. Harbinger Research, LLC has recently issued price target of $1.25 for PotNetwork stock with the “Strong Buy” rating.
Pot network through its subsidiaries is engaged in research, development, and multi-national distribution of premium hemp. POTN shares are currently trading around 0.33 – with the 52-week trading range of $0.01 – $0.96.
Pot Network Holdings Financial Performance
The company has reported record financial numbers for the first quarter this year. Its sales of $6.3 million in Q1 rose substantially from sales of $1.83 million in the year-ago quarter. This represents close to three times boost over the previous year quarter.
The revenue growth is driven by improving revenue from its wholly-owned subsidiary, Diamond CBD, Inc – which distributes premium quality products.
Almost 10,000 distribution locations and robust e-commerce sales support Diamond CBD in posting sustainable sales growth for Pot Network. Its strategy to attract new customers through differentiated products adds to sales growth.
Pot Network Holdings expects to generate sustainable revenue growth in the following quarters of this year. The momentum is evident from its sales of $2.2 million in March, which jumped 152% from the year-ago period.
“We believe that we are standing on the threshold of a revolution in this marketplace. We have pursued industry leadership and robust market penetration. Now that we have established a solid foundation, we are ready to step into a stronger and more advantageous financial arena,” stated Richard Goulding, PotNetwork Holdings CEO.
The company is now planning to upgrade their status to OTCPQ, and they have engaged experts to create a Reg A+ filing for submission to the Securities and Exchange Commission. Its next goal is to achieve a NASDAQ Capital Market listing.
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