Odd day for sure. Up 36% on no news and little more than average daily volume. It may well have been that record first month revenue that Nevada reported earlier today. I can't imagine what California revenue will look like in 2018 when marijuana is legalized in their state.
AGTK did release this news two weeks ago on their first foothold in California. Maybe a delayed reaction -
Agritek Holdings, Inc. Announces Acquisition Of Performance Nutrition California Retail Location With eBay And Amazon Online Stores Adding In Excess Of $500,000 In Additional Gross Revenue And Product Sales For Company
Published: Sept 20, 2017 8:30 a.m. ET
LOS ANGELES, CA, Sep 20, 2017 (Marketwired via COMTEX) -- LOS ANGELES, CA--(Marketwired - Sep 20, 2017) - Agritek Holdings, Inc. (otcqb:AGTK) www.AgritekHoldings.com, a fully integrated, active real estate investor for the medicinal sector and branding consultant today announced that the Company has executed an Asset Purchase Agreement for the acquisition of Performance Nutrition Center, located in South Orange County, California. The Asset Purchase Agreement includes a high traffic bricks and mortar retail location within Laguna Hills, California, exclusive supplement product lines, online eBay and Amazon stores and a continuous years of product revenues as a track record of at least five-hundred thousand dollars ($500,000) in sales approaching $600,000 in product sales for 2017.
"Our reasoning for this recent asset purchase and acquisition of an established 15 year nutrition and supplement company with a strong retail location and high traffic online stores with eBay and Amazon was two-fold. First, an additional revenue stream of close to $600,000 in product sales within the supplement and wellness space will greatly increase our balance sheet as it relates to inventory and product sale based revenue. Second, a long time established relationship with online store fronts including arguably the largest online partners in the world Amazon and eBay creates an incredible opportunity as a gateway for launch of our new wellness products and brands. The online store www.peakperformancesupps.com is in conjunction with eBay store "performancesupps" and Amazon store of the same name. With an established retail location since 2001, and built in consumer base, these new retail and online e-commerce assets soon to be within Agritek Holdings provides a much anticipated subsidiary for immediate and meaningful revenue and channel for the proprietary wellness products within the legal jurisdiction of California" stated B. Michael Friedman, CEO of Agritek Holdings Inc.