We saw a little bit of pop today in American Premium Water Corp (OTCMKTS:HIPH), which is an extremely small micro-cap in the CBD market space. Specifically, to drive the action on Thursday, the company just announced that its LALPINA CBD will be sold in General Nutrition Center (GNC) (NYSE:GNC) locations.
According to the release, “LALPINA CBD will be part of the pilot program the brand participated in last year. LALPINA CBD will be available for sale at two southern California locations; GNC Walnut, CA located at 20687 Amar Road and GNC Rancho Cucamonga, located at 10768 Foothill Boulevard.” This is the company’s flagship brand as it tries to build traction in the explosive CBD space. It will be interesting to see if the stock can get some traction above its 50-day moving average, which defined the highs in the action on Thursday.
American Premium Water Corp (OTCMKTS:HIPH) bills itself as American Premium Water Corporation produces bottled water under the LALPINA brand name.
The company was formerly known as Expert Group Inc. and changed its name to American Premium Water Corporation in October 2013. American Premium Water Corporation is based in Playa Vista, California.
The company defines itself as a diversified luxury consumer products company focused on businesses in the health and beauty and biotech sectors. The company is focused on harnessing the powers of hydrogen and Nano technologies paired with cannabidiol (CBD) to treat health disorders and enhance quality of life.
This business model aims to market emerging fashion brands by leveraging classic retail partners and incorporating disruptive blockchain technologies to expand the retail footprint. The company’s portfolio includes the LALPINA Hydro and LALPINA Hydro CBD brands (www.LalpinaInc.com), Gents, Worthy, and blockchain platform FashionCoinX (www.FashionCoinX.com).
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As noted above, HIPH just announced that its LALPINA CBD will be sold in General Nutrition Center (GNC) (NYSE:GNC) locations.
While this is a clear positive, it hasn’t been enough to shift the tone of recent action, with HIPH shares sinking something like -3% in the past week. Over the past month, shares of the stock have suffered from clear selling pressure, dropping by roughly -25%.
In addition, the listing has seen interest climb, with an increase in recent trading volume of 22% above the average volume levels in play in this stock over the longer term.
Ryan Fishoff, CEO American Premium Water Corporation, commented, “I am thrilled to announce that LALPINA CBD will be available for sale at GNC. This has the potential to be an anchor account for us going forward. These locations are within one of our core target markets (Los Angeles), and am confident that the product will be well received, which should open the door for other locations in the Los Angeles area, all over California, and other states and cities nationwide. I’ve always viewed GNC as the standard for health supplements and nutrition, and I’m pleased that LALPINA CBD will be side by side with other leading nutritional brands and products.”
Currently trading at a market capitalization of $2.59M, HIPH has virtually no cash on the books, which is balanced by about $1.2M in total current liabilities. HIPH is pulling in trailing 12-month revenues of $345K. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 3383.5%. 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 $HIPH 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 $HIPH, either long or short, and we have not been compensated for this article.