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Tuesday, December 1, 2020

Kush Bottles Inc (OTCMKTS:KSHB) Continues to Benefit from Growth in the Cannabis Space

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The run higher in cannabis stocks has touched many different points in the chain of production, including stocks like Kush Bottles Inc (OTCMKTS:KSHB), who engage in a pick-and-shovel role in the industry, providing packaging and production tools and resources. Shares have popped higher in a strong secular growth trend. To help drive the recent action, the company just announced that it has opened a new warehouse facility in Worcester, Massachusetts to serve as the Company’s east coast hub and to support businesses entering the industry or expanding operations within the east coast market.

According to the release, “Strategically located outside of metro Boston, in Worcester, the new warehouse represents the largest facility operated by the Company to date. The new facility positions Kush Bottles as the market leader in providing ancillary solutions for the medical and adult-use states in the region, and stands ready to scale accordingly as more states transition from medical to adult-use.”

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, KSHB shares have heated up in recent weeks, with the company signaling more growth potential with an expansion move just announced. In all, traders will note 23% tacked on to share pricing for the name in the past month. In addition, the name has seen interest climb, with an increase in recent trading volume of 89% over the long run average.

“As a result of our first mover advantage on the West Coast in key markets such as California, Washington, Oregon and Nevada we have worked for years to imbed our team, products and customer relationships with the key multi-state operators. This effort has led to our position as a leader in the ancillary space with these businesses in these markets,” said Nick Kovacevich, CEO of Kush Bottles. “We expect the Northeast to replicate that trend and that’s why Kush Bottles has invested in this facility and our key personnel in the greater Northeast region; to be the first mover and a dominating player supporting the growth that is on the near horizon. The population density of the Northeast and early consumer demand reports are strong indicators that this region, once up to speed like more mature states, will prove our investment to be a rewarding endeavor as additional states come online, and products get to market to fill that demand.”

At this time, carrying a capital value in the market of $382.87M, KSHB has a significant war chest ($3.6M) of cash on the books, which compares with about $10.9M 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 is an exciting story, and we look forward to a follow-up chapter as events transpire. 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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