Shares of KushCo Holdings Inc (OTCMKTS:KSHB) have been a mystery and a puzzle wrapped in a riddle so far this year. To help and try to unravel the enigma, the company 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 shareholders of the name during the trailing week. Furthermore, the name has seen a growing influx of trading interest, with the stock’s recent average trading volume running 12% beyond its prior sustained average level.
Ms. Barr stated, “I am energized to join KushCo’s strong, entrepreneurial, and innovation-driven team and culture. The adaptability of this organization is remarkable, especially its ability to overcome new challenges as they arise, which is paramount in the cannabis and CBD industries. As one of the early pioneers in the sector, the Company has done a successful job attracting and retaining talented individuals who believe in a mission bigger than themselves and who have often taken great sacrifices to elevate KushCo to where it is today. I recognize that each industry has its own challenges to learn and address, but I am encouraged by the solid team we have now and the broader KushCo vision of powering the global cannabis and CBD ecosystem. I look forward to being a champion for our people and building a stellar culture, while leading this remarkable team through its next phase of growth and employee-led innovation as we continue to generate increasing value for our customers, partners and shareholders.”
Now commanding a market cap of $186M, KSHB has a significant war chest ($3.9M) of cash on the books, which must be weighed relative to 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%. We will update the story again soon as further details emerge. 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.