The CBD Stock Actually Profiting Every Quarter | PureK (PKAN)
PureK Holdings Corp (CVE:PKAN) (OTCMKTS:PKANF) manufactures and sells hemp-based cannabidiol (CBD) related products in the United States. Unlike large CBD stocks like Charlotte’s Web (TSE: CWEB) (OTCMKTS:CWBHF) or cbdMD (NYSEAMERICAN: YCBD) – for all their good work – PureK actually turns a profit every quarter – having positive EBITDA since 2018.
Up to this point, the company has been profitable predominantly focusing on its PureKana brand. The all-natural CBD brand is ranked top 10 in its category.
Version 2.0 of the company will see the company expand into different areas and markets using the following four pillars.
1.Continue the growth of their profitable online platform.
2. Leverage Kathy Casey’s CPG experience (10 years at Procter & Gamble and 20 years at Kellogg’s) to take the brand into non-direct consumer avenues like brick and mortar chain stores.
3. Enter into subcategories. PureK has recently made three acquisitions over the last four months to grow into additional categories. The acquisitions of Budapest, No ‘B.S.’ Skincare, and Trubrands expand PureK’s product lines into other market segments like skincare and pet wellness.
4. PureK will be looking to expand globally. With the recent completion of its novel food agreement, the company is looking to enter into the U.K., Canada, and LATAM.
Due to the legalization of cannabidiol oil in several countries such as the U.S. and Canada, its demand is growing rapidly across the world. Some forecasts have said the market can grow at a 24.3% CAGR by 2025.
“If we can get one person off of an opioid to manage their pain in a different sustainable way, then we are making difference, and I find that incredibly rewarding” – PureK CEO Kathy Casey
Watch the entire interview to learn more about all the women-ran businesses PureK have recently acquired and the stocks future growth catalysts.