Puration Inc. (OTCMKTS:PURA) Stock Sees Profit Booking At Higher Level

Puration Inc. (OTCMKTS:PURA) is down 7% in a week after confirming its preliminary 2022 revenue prediction of $1 million and reiterating the forecast’s conservative nature.CEO Brian Shibley said that the $1 million revenue prediction is based on three anticipated revenue sources.

Market Stats

On Monday, PURA stock fell 2.33% at $0.0126 with more than 2.68 million shares, compared to its average volume of 2.59 million shares. The stock has moved within a range of $0.0121 – 0.0129 after opening trading at $0.0129.

PURA Highlights Dark Horse Potential To Substantially Exceed $1M Revenue Forecast

Most importantly, the forecast is conservative since Puration expects revenue from three sources. In a letter to shareholders, Shibley had indicated that the company expects revenue from branding, partnership, and education. However, the company expects revenue from education for now, and there is a possibility of more revenue from collaboration and branding. The CEO said that the partnership revenue is a dark horse to increase revenue multifold next year.

Recently Shibley indicated that they expect Q4 2021 to be crucial in catapulting its new Farmersville Hemp Brand going into 2022 and start creating considerable revenue. Shibley stated that although the pandemic affected their transition, it didn’t halt it, and the company is confident that they are past the hurdles. Investors should watch PURA in the coming weeks.

Traders Corner

PURA stock is below the 20-Day and 50-Day Moving averages of $0.0138 and $0.0156 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0179. The stock is down 13% in the past month.