I love and value your feedback. It helps expand my expertise in the cannabis market.
It also reveals new cannabis stocks that I’d never considered.
In a recent YouTube video, viewer Fernando asked:
Matt, what do you think about PCLOF stock?
Thanks for the question about PharmaCielo Ltd. (OTC: PCLOF), Fernando.
Let’s see if PharmaCielo stock is worth investing in.
PharmaCielo Ltd.’s Growing Pains
The Canadian PharmaCielo Ltd. also trades on the Toronto Stock Exchange under the ticker PCLO.
The company specializes in medicinal-grade cannabis oil extracts, tetrahydrocannabinol and other products used by pharmacies, medical clinics and cosmetic companies.
PharmaCielo also offers telemedicine software.
Its products are available in Canada, Columbia, Italy and Mexico.
In December, PharmaCielo named longtime board member Henning Von Koss its CEO. It was a significant change in the company’s leadership after several years of financial hardships.
In 2019, PharmaCielo‘s total revenue was just under CAD $800,000. But its future looks bright.
In 2020, revenue surged to around $6 million CAD. That number is projected to jump to $65 million CAD this year and $70.1 million in 2022.
PharmaCielo’s expansion plans can be attributed to part of that jump. It is entering the United Kingdom via a sales agreement with a British wellness and cosmetics wholesaler.
And its core business is chugging along.
PharmaCielo’s Rionegro processing plant is one of the largest in Columbia. It’s able to produce more than 30,000 kilograms of extract per year.
Paired with a high-THC quota granted by the Columbian government, PharmaCielo will keep expanding its product portfolio.
Is PharmaCielo Stock a Buy?
PharmaCielo’s stock has experienced some nice jumps in the last few months.
After the COVID-19 pandemic crash in March 2020, PharmaCielo’s stock price was flat.
But it pushed past $1 per share in