Puration Inc (OTCMKTS:PURA) Stock Falls 23% in a Week: Here is Why
In the past month Puration Inc (OTCMKTS:PURA) has seen its stock go through a pretty tough time and during that period, the stock has tanked by as much as 23%. There has not been any news about the company in recent weeks but back on October 5 the company had made a major announcement.
Market Action:
On Wednesday, PURA stock lost 6.71% at $0.0153 with more than 4.55 million shares, compared to its average volume of 4.50 shares. The stock has moved within a range of $0.0150 – 0.0165 after opening the trade at $0.0155.
Major Development
Puration announced on that day that it was going to launch an initiative spanning the entire hemp industry for marketing many hemp growers and processors under that umbrella of a single brand name. The brand name will be Farmersville Hemp and the company also noted that it also had plans to provide hemp growers as well as processors with financial assistance.
It is an ambitious plan from the company and one that investors ought to watch closely as the hemp industry continues to grow rapidly. The company is effectively looking to bring a large number of growers and processors under the control of a cooperative bearing the Farmersville Hemp brand. The company went on to state at the time that it was looking to corner a part of the industrial hemp space and then grow its revenues rapidly. Despite the poor performance, the Puration stock could be worth tracking.
