ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) is a penny stock that has started to garner increasing attention from OTC traders and market participants as the stock catches some momentum higher over the past couple weeks. The principle catalyst we see is the company’s recent announcement that it will soon start producing a line of both Cannabidiol (CBD) infused flavored waters and CBD-infused flavored energy drinks and beverages. Even though this particular headline doesn’t correlate perfect as the driving catalyst in terms of timing, the theme and narrative is more important, and fits what we have seen with this stock in the past.
Michael Welch, President and Chief Executive Officer of Rocky Mountain High Brands, stated, “Our new Blueleaf CBD-Infused flavored water product line will be produced in the next 30 days and will available for purchase this summer. We will be offering three flavors of Blueleaf CBD-Infused flavored water – Water Cucumber, Lemon/Lime and Watermelon.”
ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) bills 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 above, the stock really got a new breath of life a couple weeks ago. The run into the end of May has roots going back about 5/22, and the headline didn’t hit until about a week later. We also were seeing this stock build in some technical support just above the 200-day simple moving average.
The move higher to close the month of May included a rip of about 45% in just 2-3 days in front of the recent announcement, so it’s difficult to say if perhaps there’s more going on here than just an update about the company’s plans to push a mix of CBD-infused beverages into the marketplace.
Welch continued, “Next week, we will start focus groups to help the Company with the packaging and the positioning of the CBD-infused flavored energy drinks and beverages. Our goal is to be the leader in CBD energy drinks. With the guidance of Gerry David and the marketing expertise of Kevin Harrington, we believe that we can build a strategy to achieve that goal.”
We’ve witnessed 21% tacked on to share pricing for the stock in the past month, but that move comes in the context of a larger bearish trend. However, RMHB has a history of dramatic rallies. Moreover, the listing has benefitted from a jump in recent trading volume to the tune of 67% above the average volume levels in play in this stock over the longer term.
At this time, carrying a capital value in the market of $70.7M, RMHB has virtually no cash on the books, which must be weighed relative to about $1M 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 $767K. However, the company is seeing declines on the top line on a quarterly y/y basis, with revenues falling at -25%. This is an exciting story, and we look forward to a follow-up chapter as events 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!