KushCo Holdings Inc (OTCMKTS:KSHB) Continues to Battle for Support

KushCo Holdings Inc (OTCMKTS:KSHB) Continues to Battle for Support

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KushCo Holdings Inc (OTCMKTS:KSHB) just announced that it has appointed Rhiana Barr as the Company’s Chief People Officer.

According to the release, this new position was created to build and scale a “best place to work” culture and to enhance the Company’s organizational capability and effectiveness as KushCo’s business, workforce, and culture continue to grow and evolve.

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 it has appointed Rhiana Barr as the Company’s Chief People Officer.

The chart shows flat action for the listing in the past week. In addition, the company has seen a growing influx of trading interest, with the stock’s recent average trading volume running 14% beyond what we have been seeing over the larger time frame.

“KushCo has always been a top destination for bright, driven and talented individuals looking to create value in a rapidly growing organization within a rapidly growing and emerging industry,” said Nick Kovacevich, KushCo’s Co-founder, Chief Executive Officer, and Chairman. “Our desire to create an entirely new role to attract, manage, and nurture our greatest asset-the KushCo family-has been a top priority for us for many months now, which is why we took the time to ensure we bring in the right individual who can make a meaningful impact from day one, especially at a time where we and the broader cannabis and CBD sector have pulled back on our headcount growth in order to build a pathway toward achieving sustainable profitability. Rhiana has developed a stellar track record during her career, having worked in a wide variety of leadership roles at high-profile organizations, including Nestle, where she was instrumental in implementing programs to groom high-performing leaders and employees, while establishing the proper training, incentives, and upward mobility to enable transformation both at a personal and company-wide level. At KushCo, we will be looking to leverage those experiences, guidance and insights, particularly as we embrace the ethos of gaining more from less and leveraging the collective strengths of our current KushCo family. In fact, as our fiscal 2020 revenue guidance suggests, we are still expecting significant growth compared to fiscal 2019-however, we are looking to achieve that growth in a more efficient and profitable manner. Together, with Rhiana’s help, we can more effectively develop our workforce, streamline operations, reduce costs, and enhance our organization, putting us in an even stronger position to drive sustainable, disciplined, and profitable growth.”

At this time, carrying a capital value in the market of $166.4M, KSHB has a significant war chest ($3.9M) of cash on the books, which compares with about $32.6M 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 $149M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 135.3%. As more color becomes clear on the name, we will review the situation and update our take. 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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