Ambitious expansion plans of a company can almost always result in a lot of excitement for investors and that is what seemed to have happened with the HempFusion Wellness (OTCMKTS:CBDHF) stock yesterday.
The stock was in the middle of a strong rally yesterday and managed to clock gains of as much as 18% after it made such an announcement. The company announced yesterday that it expects to generate revenues in the range between $12.5 million and $13.5 million in the fiscal year 2021. In addition to that, the projection for the revenues for the fiscal year of 2022 is between the range of $20 million and $25 million.
The figures reflect a considerable jump in revenues and HempFusion Wellness stated yesterday that the jump in revenues have been projected due to the expansion plans that it has put in place over the next 18 months. In addition to that, the company also pointed out that its revenue projections for the fiscal year 2021 also include the revenues that are going to be generated by Sagely Naturals and Apothecanna, two companies that were acquired by HempFusion not too long ago. The announcement from the company has made HempFusion a hot stock and investors could consider tracking it.