White Label Liquid Inc. (OTCMKTS:WLAB) Stock Gains Momentum, What To Do?
White Label Liquid, Inc. (OTCMKTS:WLAB) stock is going well this year with a gain of over 75% since the beginning of this year. Let’s analyze the recent developments about the company.
Florida based hemp-based CBD oil company White Label Liquid has established itself as one of the leading suppliers of customer mad CBD oil products to a range of big-ticket companies over the past few years.
White Label Liquid has considerable production capabilities and can churn out as many as 50,000 units per day. In addition to the largest cannabis companies, it also supplies to dealers, distributors, and stores all across the world.
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Financial Results
On 11 April this year, the company announced its financial results for 2018 and the numbers were highly encouraging. The company generated revenues of $7,006,110 and it topped its 2017 revenues of $5 million by a significant margin. The rise reflected a year on year rise of 250% and demonstrated the fact that the company has continued to grow at a fast clip.
However, in this regard, it is also necessary to keep in mind that White Label has continued to raise its range of offerings and back on 25 March this year, the company announced that it is going further expand its range of CBD oils. The move is particularly important since CBD oils are the fastest growing niche in the hemp market and White Label is determined to be one of the biggest players in that segment.
New products will include CBD infused olive oils, honey tinctures and much more. The CBD oils market is expected to be worth $22 billion at some point and White Label wants to capture a major chunk of it.
Varied Line Of CBD Products
Earlier on in March, on the 19th to price, it came to light that White Label provides the most varied line of CBD products to its clients. At this point in time, the CBD market has grown into a behemoth with a customer base of 10 million. White Label continues to be the main supplier for most resellers, who take White Label’s products and then sell it under their own label.
Eltek Ltd. (NASDAQ:ELTK) Stock Soars 550% In 2 Days, What’s The Buzz?
Shares of Eltek Ltd. (NASDAQ:ELTK) are gaining a lot of attention this week as the stock has skyrocketed all the way from $1.64 to $11 – Jump of 550% – in just a matter of days.
So why the ELTK stock is up so much? Looks like investors are reacting positively after the company has announced its financial and operational results for the first quarter of 2019 that ended March 31, 2019.
Q1 2019 financial results
The company generated $8.7 million in revenues in Q1 2019 compared to $8.9 million that was reported a year ago. There was a 5% increase in gross profits from Q1 2018 to around 1.5 million in Q1 2019. The company registered a net profit of $242,000 translating to $0.12 earnings per diluted share in Q1 2019 compared to Q1 2018 when it reported a net loss of $670,000 or $0.13 loss per share.
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The first quarter of 2019 has been a promising one and the company posted a positive EBITDA of around $811,000 relative to a year ago when there was a negative EBITDA of $185,000. There was a positive operating cash flow of around 1.6 million in the quarter ended relative to $776,000 that was used in Q1 2018.
Results reflect Eltek’s turnaround strategy
Commenting on the results Chief Executive Officer Eli Yaffe said that the company was delighted that the results are a reflection of the first stage of the implementation of its turnaround plan that commenced in Q4 2018. He added that the company continues with its effort of enhancing operating efficiencies, improving customer experience, formulating effective sales strategies as well as its continued implementation of the plan to achieve sustained profitability.
Eltek is an Israeli industry leader in the manufacture and supply of technologically advanced solution in the segment of printed circuit boards which are the main circuitry employed in electronic devices. The company is a specialist in production and distribution of high quality and complex printed circuit boards, multi-layered and flex-rigid boards and HDI boards. The Israeli based technology company is ITAR compliant and it has NADCAP and AS-9100 Electronic certification.
The company supplies leading companies in aerospace, defence, and medical sectors. It operates through its European and North America subsidiaries and via distributors and agents.
ELTK stock was up 326% in Wednesday’s session and closed at $7. Moreover, the stock continues to move higher in today’s session and up another 50% at $10.75.