The small and big names behind the growth of CBD

The small and big names behind the growth of CBD

June was a big month for the cannabis industry as Canada became the first G7 country to completely legalize recreational marijuana. This recent development in the Canadian cannabis market is expected to fully propel the industry to new heights in the coming months. Beyond recreational marijuana, there are various aspects of the cannabis industry that are experiencing growth as well.

Another cannabis derivative gaining a massive following is cannabidiol (CBD). Items derived from pure CBD oils carry the various health benefits of cannabis strains, but since these oils are isolated from THC, psychoactive effects are non-existent. Because it is without the “negative” effects of cannabis, CBD products are easily better accepted over anything else.

Currently, the known benefits of cannabis include acne, pain, and inflammation relief. It is also proven to have properties that help reduce anxiety and depression, treat the symptoms of epilepsy, as well as fend off heart diseases and cancer. There are other ongoing studies that look further into the benefits of cannabis, and some experts say that it could also be helpful in curing alcoholism and substance abuse.

CBD is currently being accepted as a disruptor and “the new darling” in the health and wellness industry. It is becoming the new fad because of its versatility. CBD oil can be used in an array of ways, and it has found a place in the kitchen, in vape pens and various other devices. Behind these amazing items are companies who are exploring all the possibilities.

For instance, ViPova Tea takes things up a notch by mixing CBD with black tea. It is one of the most unique ways to consume CBD. The benefits of this cannabis compound jive perfectly with the benefits of tea leaves, so users get the most with each sip.

There’s a lot to attribute to the growing success of CBD other than its versatility and benefits. We also have the companies behind CBD products to thank for their innovation and creativity. As compared to recreational and medical marijuana, CBD isn’t wildly popular yet, but countless companies are already working on securing themselves as the leader of the industry when the time comes.

As more entrepreneurs are opening new doors for the market, more people are being drawn into using CBD. Not all businesses are large, but they are able to meet the demand for CBD in their proximity. For instance, Hempire that opened in Oklahoma last May is already having a devout number of customers.

These small and legitimate businesses that provide their local communities with their dose of CBD greatly help the budding industry. On a larger scope, it is companies like PotNetwork Holdings, Inc. (OTCMKTS:POTN) and its wholly-owned subsidiary, Diamond CBD, Inc., that gets the job done.

Of all the top CBD companies, it is POTN that continues to showcase impressive financial performance on a monthly basis. June was a very busy month for POTN, and the company has braced itself for better things ahead, according to a recent update from research equity firm SeeThruEquity.

Performance-wise, POTN is proud of what Diamond CBD has recently accomplished. On June 21, the company announced that its distribution arm made $2 million in revenue for May 2018, which is nearly double than what it has earned from May 2017. This announcement tops the consistent record-breaking sales made by the company from January to April.

In total, POTN’s strong start to 2018 has led to achieving a 280 percent top-line growth during the first quarter. Revenues from the first quarter came in at $6.3 million, which is a huge difference from the $1.9 million revenue made during the first quarter of 2017. Because of its strong performance, POTN could be operating at an annualized revenue run rate of $25 million.

Confident with their performance, SeeThruEquity believes that PotNetwork Holdings will be able to push the company’s share price to $1.30 a piece by the end of 2018.

The new developments have also led POTN’s board to push through a name change for the company. At the last days of June, the company announced that it has initiated the process for changing the company name to BioTech Hemp, Inc. The board believes that the name will be fitting for a leader in the industry.

CBD’s upward momentum looks to be unprecedented as the boundaries limiting its growth are being broken. Thanks to small businesses and major companies, the industry is expected to blossom within the next couple of years.

 

Category Finance