The Moment of Truth Approaches for KushCo Holdings Inc (OTCMKTS:KSHB)

The Moment of Truth Approaches for KushCo Holdings Inc (OTCMKTS:KSHB)

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The action in shares of KushCo Holdings Inc (OTCMKTS:KSHB) has been the archetype of extraordinary consolidative activity in recent months, continually narrowing toward lateral pattern unsustainability: ie, something has to give in this stock one way or the other. Given its position as a leadership pick-and-shovel in one of the most powerful growth sectors on the planet, we would suspect the upside has odds here. To make matters more interesting, the company just announced sustainability initiatives, today announced it has entered a manufacturing and distribution agreement with SunGrown Packaging, LLC, a California-based provider of sustainable, customized packaging solutions to the cannabis industry.

According to the release, KushCo will immediately begin offering SunGrown’s current biodegradable and child-resistant packaging options to its vast customer network of over 6000 businesses. In addition, the companies will work together to launch a new line of compostable and biodegradable packaging products for use in the cannabis, hemp and CBD industries.

KushCo Holdings Inc (OTCMKTS:KSHB) is the parent company to a diverse group of business units that are transformative leaders in the cannabis, CBD and other related industries. KushCo Holdings’ subsidiaries and brands provide exceptional customer service, product quality, compliance knowledge and a local presence in serving its diverse customer base.

KushCo Holdings’ brands include Kush Bottles, a dynamic sales platform that is the nation’s largest and most respected distributor of packaging, supplies, and accessories, Kush Energy, which provides ultra-pure hydrocarbon gases and solvents to the cannabis and CBD sector, Hybrid Creative, a premier creative design agency for cannabis and non-cannabis ventures, and Koleto Packaging Solutions, the research and development arm driving intellectual property development and acquisitions.

Founded in 2010, KushCo Holdings has now sold more than 1 billion units and regularly services more than 5,000 legally operated medical and adult-use dispensaries, growers, and producers across North America, South America, and Europe. KushCo Holdings subsidiaries maintain facilities in the five largest U.S. cannabis markets as well as having a local sales presence in every major U.S. cannabis market.

According to its materials, “KushCo Holdings, strives to be the industry leader for responsible and compliant products and services in the legal cannabis and CBD industry. The Company has been featured in media nationwide, including CNBC, Los Angeles Times, TheStreet.com, Entrepreneur, and business magazine Inc.  While KushCo Holdings services all facets of the cannabis and CBD industries, it has no direct involvement with the cannabis plant or any products that contain THC or CBD.”

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As noted above, KSHB just announced it has entered a manufacturing and distribution agreement with SunGrown Packaging, LLC, a California-based provider of sustainable, customized packaging solutions to the cannabis industry.

We’ve witnessed truly consolidative flat action in the stock over the past month, and really over the past 15 months, as the sideways range pattern continues to come to a head. What’s more, the stock has seen a growing influx of trading interest, with the stock’s recent average trading volume running 17% beyond its prior sustained average level.

“It is no secret that we have been working hard to transform our product portfolio to include numerous eco-friendly packaging solutions. We are thrilled to now be offering the first of those solutions in partnership with an industry leader – SunGrown Packaging,” said KushCo Holdings’ Chief Executive Officer, Nick Kovacevich. “Since 2010 we have been a leader in the legal cannabis industry, offering child-resistant packaging solutions to thousands of cannabis and CBD businesses. And today, on Earth Day, I am pleased to announce that our company is now a leader in offering biodegradable, compostable, and sustainable options for our customers – a huge step forward for our industry.”

Currently trading at a market capitalization of $500.82M, KSHB has a significant war chest ($17.9M) of cash on the books, which compares with about $19.1M in total current liabilities. KSHB is pulling in trailing 12-month revenues of $93.4M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 239.5%. You can bet we will update this one again as new information comes into view. 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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