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Understanding What’s Ahead for KushCo Holdings Inc (OTCMKTS:KSHB)

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One of the most interesting stories in the cannabis patch so far in 2019 is that of KushCo Holdings Inc (OTCMKTS:KSHB). The stock has been mired in a lateral range, but the company is seeing nearly 240% growth on the top line, and at the same time enduring a chase by class action law firms for their pound of flesh in an uncertain drama. The coin flip of a big rally versus a significant decline is in play. Helping to further define the story, the company just announced that Rodrigo De Oliveira has been named the Chief Operating Officer (COO).

According to the release, “Mr. De Oliveira joined the company in April 2018 and had been serving as the Company’s Interim COO since February of 2019. With more than 18 years of experience in global supply chain and operations, Mr. De Oliveira is well-versed in lean manufacturing principles and holds a Six Sigma blackbelt. In addition, the Company announced two key hires to the operations team, Calvin Coy as Vice President of Strategic Procurement, and Fabian Chavez as Vice President of Operations.”

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 that Rodrigo De Oliveira has been named the Chief Operating Officer (COO).

While this is a clear factor, it has been incorporated into a trading tape characterized by a pretty dominant offer, which hasn’t been the type of action KSHB shareholders really want to see. In total, over the past five days, shares of the stock have dropped by roughly -8% on above-average trading volume. All in all, not a particularly friendly tape, but one that may ultimately present some new opportunities. In addition, the name has seen a jump in recent trading volume to the tune of 18% above its longer-run average levels.

“Rodrigo has been instrumental in improving the Company’s operational efficiencies as we execute our path to profitability. With him at the helm, we’re in a position to continue scaling our business while launching several new high-margin, high-value initiatives to support the legal cannabis, CBD and hemp markets. We are pleased to have him on the KushCo executive team, in addition to new team members, Calvin and Fabian, who both bring decades of global supply chain and operations experience,” said Nick Kovacevich, CEO of KushCo.

Currently trading at a market capitalization of $385M, KSHB has a significant war chest ($17.9M) of cash on the books, which is balanced by 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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