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Tuesday, December 1, 2020

The Kush Bottles Inc (OTCMKTS:KSHB) Growth Story Continues to Find Support

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The recent fervor ripping through the cannabis patch is spreading to pick-and-shovel plays as well, helping to pop shares of Kush Bottles Inc (OTCMKTS:KSHB) in the process. This is a bigtime growth story, with nearly 200% topline push in place on a balance sheet that is in solid shape for a company that deals in such a deep inventory. The stock just held key support at the critical $4/share level in late July and early August, and then popped back above the 50-day SMA to close the week – a particularly good set of signals for KSHB bulls.

To help matters, the company just announced the opening of two new hazmat operating facilities strategically located in the Portland, OR and Seattle, WA metropolitan areas, operating under Kush Energy, a division of Kush Bottles. According to the release, “These facilities will focus on supplying customers in these regions with tested, high-quality solvents and hydrocarbons which are essential in the cannabis extraction process for the production of items including oils, edibles, and waxes.”

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, we have seen promising action in KSHB shares over the past few sessions. Recent action has seen 14% tacked on to share pricing for the company in the past week. In addition, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 18% beyond what we have been seeing over the larger time frame.

This is particularly important given the stock’s tiny trading float of 9.7 million shares.

Nick Kovacevich, CEO of Kush Bottles, Inc., commented, “The expansion of our Kush Energy division into the Pacific Northwest is another key step in the execution of our clear growth plan.  Step one involved the integration of the division into our operating structure following the acquisition close in May 2018.  Step two involves expansion of our operational footprint into key cannabis markets such as the Pacific Northwest where we already have strong relationships with key producers, processors, and brands dating back to 2013.”

Now commanding a market cap of $341M, KSHB has a significant war chest ($3.6M) of cash on the books, which compares with about $2.6M in total current liabilities. One should also note that debt has been growing over recent quarters. KSHB is pulling in trailing 12-month revenues of $40.8M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 173.4%. 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.

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