ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) has rebounded recently after a tough financial statement. One would hope that investors see the long-term viability of RMHB rather than a short-term moneymaker. RMHB specializes in CBD infusions and that market has yet to really spread its wings. One firm that seems to agree with that take is Goldman Sachs small cap. The research arms of Goldman smallcap recently released a report on RMHB and they essentially saw a potential small cap OTC due for a price target increase.
Recently, and this is cited heavily in the report, RMHB struck a private label deal worth $7.2M – a deal that represents the largest order ever in the CBD beverage industry. The deal is for the flagship HEMPd line of infused water. HEMPd is a diverse hemp-based health and wellness line, it is distinctive in its space and is likely to have a competitive advantage in the market. Its uniqueness stems from its formulation from full plant CBD, its derivation from hemp grown organically in Colorado and its non-detectable amount of THC content. CEO Welch said this in the earlier press release pertaining to the private label deal: “RMHBwill be one of the first companies to infuse a functional beverage with CBD in a can, which affirms our trailblazer status. Migrating from a hemp-based product to a CBD-infused offering demonstrates our Client’s confidence in Rocky Mountain High Brands’ product quality, capabilities, flexibility, and leadership status.”
ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB), to go into detail, makes 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.
RMHB 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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“RMHB just closed the largest deal in company history, and one of the largest in the industry- worth $7.2M in 2018 revenue. This deal should cement RMHB as a top 5 player in the CBD-infused beverage industry this year and affords it significant financial visibility and flexibility,” Goldman said in their report.
“RMHB trades at a discount to its peers and we believe it will be afforded a substantial increase in value in the near term on the heels of its new contract and ahead of new product introductions and legacy product reformulations. Moreover, we believe that M&A activity and licensing agreements are in the cards this year as well, which will only further broaden the Company’s reach”, concluded Goldman.
ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) has market cap of $16.05M and a float of 787.48M. RMHB is seeing volume in the last 10-days at 20.96M. The recent news for RMHB is promising and a price surge could be up ahead. For continuing coverage on shares of $RMHB stock, as well as our other breakout stock picks, sign up for our free newsletter today and get our next hot stock pick!
Disclosure: We hold no position in $RMHB, either long or short, and we have not been compensated for this article.