PotNetwork Holding leads the growing CBD industry with high-quality, hemp-derived CBD products – Born2Invest
PotNetwork Holding, Inc. (OTCMKTS:POTN) has positioned itself as one of the leaders in the growing hemp-derived cannabidiol (CBD) industry. Its aggressive marketing and expansion strategies are expected to help the company continue to propel in the CBD market in the United States and across the world.
Hemp-derived CBD is the fastest growing segment of the multibillion-dollar legal cannabis and hemp industry. PotNetwork’s wide range of hemp-based product portfolio allows the company to benefit from the hemp market, which is projected to grow at a compounded annual rate of approximately 53 percent in the next three years.
PotNetwork Holding serves as the holding company of its subsidiaries, First Capital Venture Co., the owner of Diamond CBD. Diamond CBD is dedicated to research, development and multinational distribution of premium hemp extracts, specifically CBD oil and specialty products.
Diamond CBD, PotNetwork’s wholly owned subsidiary, has shown a strong growth this 2017. Its third-quarter revenues jumped by 29 percent to over $4.4 million from the previous quarter. The company reported that its October revenues reached over $1.6 million, and its revenues in November also exceeded $1.6 million, driven by the growing popularity of its premium quality products among celebrities and media sources in the country.
A strong performer in CBD market
By 2020, the hemp industry is expected to reach $1.8 billion, $450 million of which will be from hemp-derived CBD products. A SeeThru Equity research sees PotNetwork as a speculative play in this market in the U.S. Its Diamond CBD arm aims to increase its revenue to an estimated $8 million for the 2017 financial year from $1.6 million for the entire 2016. With its month over month advancement this year, the company is on track to hit its target.
Diamond CBD’s aforementioned revenues also went beyond expectations; its great market performance situates PotNetwork Holding