WCVC - Restaurant Chain Entering Cannabis Sector With PPS Triple Potential Boosted By Colorado Reaching $1B In Marijuana Sales
June 18, 2019 -- InvestorsHub NewsWire -- via www.nextbigticker.com -- West Coast Venture Group, Corp. (OTCBB: WCVC) is the owner and operator of Illegal Burger operating in Colorado and recently introducing their very own cannabis infused menu. WCVC’s PPS is currently ranging from $0.06 to $0.07 and the company has recently published conventional (not including cannabis sector valuations) restaurant market comparable valuations showing WCVC can support a $0.20 PPS. With the cannabis business direction, WCVC’s valuation could potentially go much higher. Being headquartered in Colorado, WCVC’s growing momentum could also be additionally fueled by Colorado’s recent announcement about reaching $1 billion in marijuana sales since legalizing recreational use.
WCVC is a fully reporting company with audited financials reporting over $3 million in annual revenue.
Short Squeeze Could Fuel PPS Momentum For WCVC And Other Cannabis Stocks
Like many micro-cap cannabis sector stocks at the moment, WCVC has been shorted. Short sellers seemed to have anticipated a better short sale environment after the recent FDA meeting. In spite of their best laid plans for shorting FDA non-committal news, cannabis sector stocks, particularly CBD stocks have remained strong. Short sellers have been doubling down to try and keep prices from going up while they attempt to cover, but the short inventories are starting to get to high, and a buy-in is looming. Puration, Inc. (PURA), Kaly, Inc. (KALY) and North American Cannabis Holdings, Inc. (USMJ) are other micro-cap cannabis sector stocks that have been shorted and now have looming buy-in potential that could fuel PPS momentum.
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