CBD Unlimited Inc (OTCMKTS: EDXC) On A Bull Run

CBD Unlimited Inc (OTCMKTS: EDXC) has turned bullish after an 800% spike from all-time lows. The stock is exploding on the company delivering a record-setting quarter depicted by robust revenue growth. The company completing an FDA label review and vendor applications has also gone along way in fuelling the upside action.

CBD Unlimited Share Price Analysis

The upward momentum is showing no signs of slowing down as pullbacks have so far acted as support levels from where the stock has continued to surge. The signing of distribution agreements has also gone a long way in exciting investors as it underscores the company’s push for robust revenue growth.CBD Unlimited has emerged as one of the stocks pushing the limits as its market sentiments continue to inch higher. With the stock trading in a steep uptrend, the sky is the limit as it continues to flirt with five-year highs. EDXC Daily ChartA spike to the $0.41 means the stock is staring at support at the $0.32 mark, on pullbacks. Above the $0.32 mark, CBD Unlimited remains well positioned to continue surging. Conversely, a breach of the $0.32 mark could elicit short selling pressure that could result in the stock tanking to the $0.20 mark, the next substantial support level.

What Does CBD Unlimited Do?

Formerly Endexx Corporation, CBD Unlimited casts itself as a provider of innovative phytonutrient-based food and nutritional products. The company is currently working on two consumable products all rich in Phyto-cannabinoids. The company’s products are mostly geared towards the pet industry.

Why is CBD Unlimited Exploding?

CBD Unlimited has taken the market by storm on investors reacting to yet another record-breaking quarter. Record sales of $236,000 for the first quarter of fiscal 2019 represented a 23% year over year increase.During the quarter, the company also achieved significant milestones as it continued to position itself as a cannabis company. A change of name from Endexx came into play as the company looked to align its name with its business model.

“Our first quarter of fiscal 2019 generated another record-breaking quarter. During that time, we have added key personal to support the transition from the “Hemp Pilot Program” to full-scale commercial production and distribution. CBD Unlimited is positioned for exponential revenue growth going forward,” explains CEO Todd Davis.

Nationwide Expansion

Buoyed by sales growth in the first quarter, the company has engaged the services of a private’s sales group as it eyes yet another record-breaking quarter. The new sales group is tasked with the responsibility of expanding CBD Unlimited reach, domestically and internationally, in pursuit of new sales channelsThe company is planning to enter new markets both in the US and abroad as it looks to strengthen its revenue streams. CBD Unlimited has also collaborated with Gold Coast Distributors as part of an effort of servicing as many as 1,200 Plus Bodegas and Boutiques in the New York City area.The distributor should enhance the company’s reach in the city as well as support the growth trajectory nationwide.

“Gold Coast has an established customer base in the New York City area. Historically this market has been very difficult to penetrate. This engagement accelerates our growth curve to surpass 5000 stores in 2019. Distribution remains a primary driver for our company’s success,” CEO added.

Nationwide expansion has also received a boost on the company completing an FDA label review and vendor applications. With the milestone, the company can now pursue mass retail and distribution channels. CBD unlimited intends to make its product available in 30,000 stores by the end of 2020 as it continues to strengthen its sales channels.

Bottom Line

CBD Unlimited hitting the buy zone does not come as a surprise given that the company appears to be firing on all angles as it continues to expand its footprint in the cannabis sector. Strengthening of distribution channels attests a company focused on sales growth crucial for generating long-term shareholder growth.The company remains well positioned to deliver yet another record-breaking year on revenue growth. With that in mind, the stock is likely to continue surging as investors take note of underlying developments and milestones that point to a bright future.We will be updating our subscribers as soon as we know more. For the latest updates on EDXC, sign up below!Disclosure: We have no position in EDXC and have not been compensated for this article.