Kush Bottles Inc (OTCMKTS:KSHB) saw shares pop higher on Friday to close out the week. The only attached catalyst was the company’s move to beef up its c-suite leadership. The company is sitting on a strong balance sheet and showing nearly 250% top-line growth, so the move to shore up talent was taken well by the market.
Specifically, the company just announced that it has added two new members to its leadership team with the hires of Rodrigo de Oliveira as Vice President of Operations and Jason Vegotsky as Vice President of Sales. According to the release, “the company also announced the promotion of Edd Pratt to Executive Vice President, where he will be responsible for overseeing both domestic and international distribution efforts.”
Kush Bottles Inc (OTCMKTS:KSHB) provides packaging products and solutions to producers, processors, and retailers operating in the regulated medical and recreational cannabis industry.
KSHB sells primarily into the b2b market, which includes legally operating medical and adult-use dispensaries, growers, and MIP producers (Marijuana Infused Products) in states with marijuana programs.
It offers pop top bottles; child resistant exit, paper exit, and foil barrier bags; tubes; and polystyrene, polypropylene, or silicone containers to urban farmers, greenhouse growers, and medical and recreational cannabis dispensaries.
According to the company’s press messaging, “Kush Bottles, Inc. (OTCQB: KSHB) is a dynamic sales platform that provides unique products and services for both businesses and consumers in the cannabis industry. Founded in 2010 as a packaging and supplies company for dispensaries and growers, Kush Bottles has sold more than 100 million units and now regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. The Company has facilities in the three largest U.S. cannabis markets and a local sales presence in every major U.S. cannabis market.”
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As noted above, the company just moved to push more talent onto the leadership team. KSHB’s financial data has been strong in recent reports, which bodes well as a potential top-tier play in what amounts to a cannabis pick and shovel play.
Nick Kovacevich, CEO of Kush Bottles, said, “Rodrigo’s leadership coupled with his international experience in managing multisite operations will serve as a critical addition to Kush Bottles Executive Team. His expertise will be key as we continue to expand Kush Bottles’ footprint both in the U.S. and abroad.”
“Building out a world-class sales organization is a top priority for us at Kush. We expect to instantly garner value from his background where he has put together structured sales processes, teams, reporting and key performance metrics up and down sales teams. This is a big step forward for our organization, and we’ll see this structure take hold immediately as well as folding into our the long-term growth plans. Jason’s expertise selling hydrocarbons to cannabis extractors will be invaluable as we expand into this segment of the industry,” Kovacevich said. “His addition to our team, along with the new products we will be offering through the acquisition of Summit Innovations, will help our company better serve our customers and simplify their supply chain.”
We’ve witnessed 8% during the past month in terms of shareholder gains in the name. What’s more, the stock has benefitted from a jump in recent trading volume to the tune of 19% beyond its prior sustained average level Traders should note this as important with a float in play that’s tiny — of 9.7 million shares.
Now commanding a market cap of $324M, KSHB has a significant war chest ($7.1M) of cash on the books, which stands against about $1.1M in total current liabilities. KSHB is pulling in trailing 12-month revenues of $32.6M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 248.8%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $KSHB stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $KSHB, either long or short, and we have not been compensated for this article.