ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) is a micro-cap player in the cannabis patch that continues to spur major interest among players in the OTC marketplace as shares consolidate after a monstrous start to the new year. The catalyst driving recent trade is the company’s announcement that they will be in attendance at this year’s Seattle CannaCon Convention, securing continued brand momentum and exposure at a critical time for the company.
The chart shows 98% added to share values of the company over the past month of action. The situation may be worth watching. RMHB has evidenced sudden upward volatility on many prior occasions. Moreover, the stock has benefitted from a jump in recent trading volume to the tune of a bit less than 240% beyond what we have been seeing over the larger time frame. Since we last covered the RMHB, the stock has moved 98.9% higher.
ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) trumpets itself as a company that develops, manufactures, markets, and distributes hemp-infused food and beverage products.
The company offers hemp-infused beverages, including energy drinks, black tea, and lemonade; hemp-infused edibles, such as energy bars; and hemp-infused energy shots and coffee shots. It is also developing wine based ready-to-drink cocktails; cannabinoid infused beverages; hemp protein bars and hemp chia seed bars; and hemp infused natural spring water.
Rocky Mountain High specializes in brand development of health conscious, hemp-infused food and beverage products. The Company currently markets a lineup of four naturally flavored hemp-infused beverages and a low-calorie Coconut Lime Energy drink. Rocky Mountain High Brands also offers hemp-infused 2oz. Mango Energy Shots and Mixed Berry Energy Shots, as well as a new Relaxation Brownie. The Company recently launched a naturally high alkaline spring water, Eagle Spirit Spring Water.
RMHB markets its products through brokers, distributors, and retailers. The company was formerly known as Totally Hemp Crazy Inc. and changed its name to Rocky Mountain High Brands, Inc. in October 2015. Rocky Mountain High Brands, Inc. was incorporated in 2000 and is based in Dallas, Texas.
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As noted in the press release, CannaCon Seattle is a three-day expo (February 16th-18th) that brings together buyers, exhibitors and consumers of the medical and recreational cannabis industry. CannaCon is the world’s largest Cannabis business marketplace boasting over 300 vendors and 10,000+ attendees per show. CannaCon is the number one marketplace for producers, processors and retailers. Rocky Mountain High Brands representatives will be located in Booth 215 and will be offering free samples of all the delicious flavors of hemp-infused beverages and discounted cases of product from our Washington State distributor, Rocky Mountain High Society.
The company notes that Rocky Mountain High Brands National Sales Director, Jojo Flaherty, will be in attendance to answer all questions regarding regional distribution opportunities.
Jojo Flaherty stated, “CannaCon is the heartbeat of the commercial side of the nationwide cannabis movement and our attendance strengthens our west coast expansion efforts. CannaCon also opens the doors to distributors who want to be in the forefront of the fastest growing industry in North America.”
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, said, “The face of the cannabis industry has changed and CannaCon is the commerce side of the cannabis industry. It is important for Rocky Mountain High Beverages to be well represented at CannaCon and to lead the way in the hemp-infused revolution.”
At this time, carrying a capital value in the market of $75M, RMHB has virtually no cash on the books, which compares with about $817K in total current liabilities. One should also note that debt has been growing over recent quarters. RMHB is pulling in trailing 12-month revenues of $1.1M. In addition, the company is seeing major top line growth, with y/y quarterly revenues growing at 19.9%. We will update the story again soon as developments transpire. For continuing coverage on shares of $RMHB stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!