May’s sales represent an increase of over 90% year over year
PotNetwork Holdings, Inc. (the “Company”) is pleased to announce that the Company’s online store generated over $1.1 million in exclusive web-based sales in May 2019. Compared with May 2018, in which online sales totaled $569,671, May 2019’s record online revenues represent a year-over-year increase of over 90%.
Diamond CBD’s online sales reflect a continual impressive growth of the readership of its website. Recent analytics show that over 330,000 users visited the website in the last 7 days alone.
A recent report by Cowen Analysts published by Forbes gave the following updated outlook for CBD sales which are now projected to be: “…$16 billion by 2025. This number is an immense jump from the estimated retail sales of CBD products in 2018 that ranged between $600 million and $2 billion.” Of the findings that New York-based investment bank Cowen & Co. conducted on the CBD market, one of the most intriguing facts was that nearly 7 percent of the 2,500 polled said they had used CBD. This figure was far higher than what the Cowen analysts had expected.
“As our product lines and distribution continue to expand, and our brands continue to gain in popularity, we believe that we are well positioned to continue to take advantage of this exploding market,” stated Kevin Hagen, CEO of PotNetwork Holding, Inc.
About Diamond CBD, Inc.: Diamond CBD focuses on the research, development, and multinational marketing of premium hemp extracts that contain a broad range of cannabinoids and natural hemp derivatives. Diamond CBD’s team consists of hemp industry pioneers and natural product experts, chemists, doctors and scientists, dedicated to producing the finest and purest cannabidiol (CBD) oils. The result is a robust selection considered among the most powerful natural CBD oils, tinctures, edibles, and vape liquids found anywhere. For more information, please visit its website at www.DiamondCBD.com.
About PotNetwork Holdings, Inc.: PotNetwork Holdings, Inc. is a publicly traded company that acts as a holding company for its principal subsidiaries, First Capital Venture Co., the owner of Diamond CBD, Inc., the maker of Diamond CBD products, and PotNetwork Media Group, Inc., the publisher of PotNetwork News and PotNetwork Magazine. For more information, please visit, www.potnetworkholding.com.
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