Pharmacielo Ltd (OTCMKTS:PCLOF) (TSXV:PCLO) Stock Gains 22% In a Week: What’s The Buzz?
Shares of Pharmacielo Ltd (OTCMKTS:PCLOF) (TSXV: PCLO) have been gaining momentum over the past week with a jump of 22%.
Market Stats
On Friday, PCLOF stock moved down 1.92% to $0.82 with more than 20.8k shares, compared to its average volume of 32.5K shares. The stock moved within a range of $0.7831 – 0.8200 after opening trading at $0.7940.
Provides Update on Latin American Sales Progress and Non-Brokered Private Placement of Debenture Units
Pharmacielo Ltd(OTCMKTS:PCLOF) Canadian parent of Colombia’s premier cultivator and producer of medicinal-grade cannabis extracts, PharmaCielo Colombia Holdings S.A.S on February 4, 2022 provided investors with updates on Latin American sales progress as well as non-brokered private placement of debenture units.
Bill Petron, CEO of PharmaCielo said that the pharmaceutical industry demonstrates a large long-term opportunities for API suppliers and sophisticated players in the global industry for developing cannabinoid-based products in the next few years.
Petron added that there are some organisations globally with professionalism as well as product development expertise on meetings needs of the sector and even lesser in Latin America.
The CEO added that the firm has all capabilities for becoming a valued long-term partner to the organizations.
Petron further stated that the pharmaceutical sales cycle is long-tailed and as the products come online, they will become highly profitable. The CEO further said that the firm has robust belief in suppliers being involved in product development and registration process early.
PharmaCielo is anticipating revenues from the initial relationships to add to the company’s revenues in short term.
The firm is looking to increase focus in other areas of business like high THC dried flower and THC distillates. Yet, they believe that the real benefit will be longer term as the company is aiming to ensure poll position.
Traders Corner
PCLOF stock is trading above the 50-Day and 100-Day Moving averages of $0.78 and $0.76 respectively. The stock is trading in neutral zone with the RSI at 55.
