PAO Group (OTCMKTS:PAOG) Stock Continues to See Selling Pressure: Here is Why
PAO Group (OTCMKTS:PAOG) on October 27, 2021 confirmed the recent CBD market analysis from Technavio forecasting the overall CBD market reaching $29.91 billion by 2025, registering a CAGR of 27%.
Market Action:
On Wednesday, PAOG stock lost 3.92% at $0.0049 with more than 8.32 million shares, compared to its average volume of 10.83 million shares. The stock has moved within a range of $0.0046 – 0.0053 after opening the trade at $0.0046.
Major News
The firm has recently forayed into CBD market through introduction of the CBD nutraceutical products, RehabRX and RelaxRX. PAOG is developing “RX” CBD nutraceuticals brand and the firm will be introducing extra CBD products under “RX” brand.
The company is expecting realisation of first revenues in quarter of 2021 after foray into the CBD market. Engaged in development of CBD pharmaceutical and nutraceuticals through the intellectual property related to patented cannabis extraction method – U.S. Patent No. 9,199,960.
This has the title “METHOD AND APPARATUS FOR PROCESSING HERBACEOUS PLANT MATERIALS INCLUDING THE CANNABIS PLANT.”The company had first done acquisition of the CBD intellectual property in 2020 and continues to expand through mergers and acquisitions.
PAO Group also confirmed on merger and acquisition development pipeline through its plan of first acquisition to be completed before year end. This will complement the existing CBD intellectual property in addition to diversification of product production opportunity as well as accelerating potential for quick revenue growth.
