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Summary
- Stocks of Canadian healthcare company Empower Clinics Inc (OTC:EPWCF, CSE:CBDT) are currently ranked high on the trending charts.
- Its OTC Markets Group-listed stocks shot up by over 12 per cent on Friday, March 26.
- Meanwhile, its scrips on the Canadian Securities Exchange (CSE) closed at C$ 0.74 after jumping nearly six per cent.
Stocks of Canadian healthcare company Empower Clinics Inc (OTC:EPWCF, CSE:CBDT) are currently ranked high on the trending charts. While its OTC Markets Group-listed stocks shot up by over 12 per cent on Friday, March 26, its scrips on the Canadian Securities Exchange (CSE) closed at C$ 0.74 after jumping nearly six per cent.
What is causing Empower stocks to rise? Let’s find out.
Empower Clinics Inc (OTC:EPWCF, CSE:CBDT)
Empower Clinics began creating a buzz last week after CEO Steve McCauley said at a recent livestream event that he plans to hit a revenues run rate of US$ 100 million within the next two years.
Around the same time, on Wednesday, March 24, the Vancouver-based firm announced that it has presented five Requests For Proposal (RFPs) bids to the US government for the use its KAI Medical COVID test on 50,000 federal employees.
©Kalkine Group 2020
Prior to that, Empower Clinics had released a compact corporate update on March 19 that gave an insight to what the company was up to. According to this update, the company generated over C$ 12 million from a warrant exercise in March 2021, which, it believed, would help continue its “rapid expansion” across divisions.
Amid all these updates, Empower Clinics’ CSE-listed stocks surged by nearly 160 per cent year-to-date (YTD). In the last one year, the healthcare stock recorded a growth of over 2,014 per cent.
©Kalkine Group 2021
Its OTC Markets Group-listed shares, meanwhile, rocketed by nearly 3,126 per cent in the past year and by nearly 171 per cent YTD.
As per its latest financials, Empower Clinics saw a net loss of US$ 0.46 million in the third quarter that ended on 30 September 2020. With a quarterly total of some 5,044 patients, the company raised a revenue of US$ 0.629 million in Q3 2020.
While Empower Clinics held cash of US$ 0.112 million as of September-end 2020, its working capital deficit stood at US$ 3.76 million for the same period.
