Puration Inc (OTCMKTS:PURA) Stock In Focus After Recent Development
The hemp industry has grown by leaps and bounds in recent times and if you are looking into stocks from the sector this morning, then you could look into Puration Inc (OTCMKTS:PURA).
Market Stats
On Wednesday, PURA stock gained 3.60% to $0.0101 with more than 8.57 million shares, compared to its average volume of 5.89 million shares. The stock moved within a range of $0.0094 – 0.0102 after opening trading at $0.0097.
PURA Farmersville Hemp Brand Backed By Up To $10 Million UCASU Commitment
Yesterday, the company was in the news after it emerged that it had introduced the novel Farmersville Hemp Brand strategy for the purposes of bringing in an era of industrialised hemp solutions in the space. On Wednesday, the company also provided the highlights from the unaudited financial results for the 2021 fiscal year. It may be a good move to take a close look at it considering the fact that the Puration stock jumped by 4% after the announcement.
Puration noted that the financial results are going to have provisions of a cash dividend to the tune of as much as $0.10 a share and a share buyback provisions for 150000 shares.
On the other hand, the news published by UCASU also noted that it had made a deal with Puration by way of which the real estate expansion is also going to be dealt with. In addition to that, the Farmersville Hemp Brand strategy is also going to move forward in conjunction.
Key Quote
“With a goal to replicate Power REIT’s success, UC Asset has developed a pipeline for cannabis property deals, in several states including Oklahoma and Florida, as well as opportunities in its home state Georgia. Additionally, the company entered into an umbrella LOI deal to invest into cannabis properties operated by OTC company PURA Inc (OTC Pink: PURA). Altogether, UC Asset plans to invest $5 – 10 million into cannabis properties in this year.”
Traders Corner
PURA stock is trading above the 20-Day and 50-Day Moving averages of $0.0086 and $0.0080 respectively. However, the stock is trading above the 200-Day moving average of $0.0130.
