Why is Verus International Stock So Volatile Recently?
One of the small-cap stocks which have come into sharp focus in recent days is that of Verus International Inc (OTCMKTS:VRUS). The stock has been making significant moves in recent times and much of that is fuelled by the fact that Verus has been making major moves in order to become a big player in its industry.
As everyone knows, the CBD industry has emerged as one of the major growth niches in the cannabis space and Verus entered the same industry with its Pachyderm Labs range of CBD products. The important thing to mention is that Verus has pretty big plans for this business and hence, it has come as no surprise that the stock is gaining momentum.
Considering the momentum being displayed by the Verus stock, it could be a good time for investors to start taking a closer look at the recent developments. Recently the company announced that it received a sufficient supply of inventory at its facility located in Houston, Texas and that is going to enough for the critical first stage of distribution.
However, that is not all. Verus International is also currently working on commitments that will allow its CBD products brands to be present in around 500 retail outlets by next month. Most of the shipments are going to focus on four states, namely, Georgia, Texas, Alabama, and Florida.
However, it should be kept in mind that it is only one of the lines of businesses for the company. Verus is a packaged good company with operations spread across the Middle East, the United States, and South America. In addition to that, the company is also involved in a wide range of products and CBD is only the latest addition.
At this point in time, Pachyderm consists of two brands, ‘U-Try CBD’ and ‘Elephant Hemp’. Some of the products on offer include CBD based edibles, lotions, aroma variations, and health improving oils among others. The company has actually set a target of hitting as many as 10000 stores by the early days of next year.
This is a massively ambitious project from the company in a sector that is set to grow in the years to come and it is easy to see why market participants are excited about its prospects. The Verus stock is likely going to be in focus over the coming days and investors could do well to keep an eye on the developments.
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