Puration Inc. (OTCMKTS:PURA) is in a range following the publication of a shareholder update regarding its latest development in industrial hemp transition from its CEO Brian Shibley. Shibley noted that the end of 2021 completed Puration’s shift from a CBD drink operation into a broad-focused industrial hemp firm.
Trading Data
On Wednesday, PURA stock fell 3.60% to $0.0081 with 2.87 million shares, compared to its average volume of 5.79 million shares. The stock moved within a range of $0.0081 – 0.0086 after opening trade at $0.0083.
PURA Publishes 420 Holiday Shareholder Update On Latest Industrial Hemp Transition Developments
Notably, the industrial hemp market has an exponentially massive opportunity than the company’s past focus on CBD beverages. The company has already finalized the shift of its CBD beverage assets to North American Cannabis Holdings Inc. (OTCMKTS:USMJ) and retained loyalty income stream prospect to be created from USMJ’s current initiatives with CBD beverage assets.
Shibley added that they have established the primary components for the new industrial hemp operations and expect to immediately create revenue traction and commence rapid establishment on that ground. Despite the current uncertainty in market lifts, Shibley is optimistic that the transition will finally pay, considering growth opportunities outweigh market hurdles. So, in the coming weeks, investors should watch PURA.
Technical Data
PURA stock is trading below the 20-Day and 50-Day Moving averages of $0.0084 and $0.0084 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0114.
