Kona Gold Solutions Inc (OTCMKTS:KGKG) is rallying up 160% on its largest revenue to date. The CBD beverage company saw a 225% increase in revenues amounting to jump of more than $30,000 in new revenue from the previous month. This has obviously had a positive effect on the stock causing it to rise more than 150% over the last month.
“I am excited to announce to our shareholders that we have seen extremely strong growth and sales in the month of October, which is from the culmination of strong product pull through in retail locations, a big increase in online sales, and large orders from our current and new distribution partners,” stated Robert Clark, CEO of KGKG. “We will continue to see an explosion in growth as the company is working to close deals with several very large distribution partners and grocery chains. This is an exciting time to be in the hemp and CBD industry and we are positioning the Company with the right products and the right personnel to be a leader in the market. Our primary goal to our shareholders is to increase revenue and be profitable in Q4 of 2018.”
Kona Gold Solutions Inc (OTCMKTS:KGKG) promulgates itself as a company that, through its subsidiary, Kona Gold LLC, focuses on the development of hemp energy drinks, energy patches, hemp apparel, and hemp shampoo. KGKG is a premier hemp lifestyle brand focused on product development in the functional beverage sector. Kona Gold Solutions, Inc. has created wholly-owned subsidiaries, Kona Gold LLC and HighDrate, LLC. Kona Gold, LLC has developed a premium Hemp Infused Energy Drink line, Energy shots, and Apparel. HighDrate, LLC has developed the beverage industry’s first CBD Energy Water, available in 4 delicious flavors. KGKG has expanded to their new warehouse and office space in Florida that gives the Company the space needed to store and distribute their new hemp energy drink, CBD energy waters, and expand rapidly. It also focuses on engaging in hydroponics activities.
The company is headquartered in Charleston, South Carolina.
According to company materials, “Kona Gold Solutions, Inc., a Delaware Corporation, has created wholly-owned subsidiaries, Kona Gold LLC and HighDrate, LLC. Kona Gold, LLC has developed a premium Hemp Infused Energy Drink line; please visit the Company’s website at www.konagoldhemp.com. HighDrate, LLC has developed the beverage industry’s first CBD Energy Water, available in 4 delicious flavors; please visit the Company’s website at www.highdrateme.com. The Companies are located on the east coast of Florida in Melbourne.”
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According to the press, KGKG recorded its strongest month-to-date off of the signing of new distribution partners and extremely strong sales of its popular Kona Gold Hemp Energy Drinks and HighDrate CBD Energy Waters. KGKG has also seen an eight-seven percent 87% increase in sales on Amazon.com over the last 30 days and a two hundred and ninety-two percent 292% from this time last year.
In other news, KGKG also has a new deal in South Carolina at Ringo’s Wholesale, which will sell its popular Hemp Energy drinks and CBD Energy offering. “I am excited to be announcing our new distribution partner, Ringo’s Wholesale in South Carolina,” stated CEO Clark. “Ringo’s covers several key markets in South Carolina that our products are not currently in and is a strategic partner in the Company’s plan to roll out our products in the Southeast United States. It’s crucial for the Company to continue to partner with independent distributors, such as Ringo’s, that have cultivated strong relationships with their customers and know their markets very well.”
Carrying a current market cap value of $149k, KGKG is looking to turn the corner with some positive revenues in a sub-sector of the cannabis market that is wide open. KGKG has seen volume average over 5M for the last ten days and their growth story could begin at this moment. We will update the story again as soon as developments transpire. Sign-up for continuing coverage on shares of $KGKG 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 $KGKG, either long or short, and we have not been compensated for this article.