This post first appeared on Micro Cap Daily
Kona Gold Solutions, Inc. (OTC: KGKG) stock price experienced quite a shift in the past eight months. Prior to October 2018, the company’s stock price was extremely stable — but also extremely low, being at around $0.01 for months. This started changing in October, and the company first saw a surge to the $0.05 barrier, which it managed to breach.
After a small price decline, it surged even higher, reaching $0.10. Here lies its strongest barrier, which prevented the company’s price from going further up. Instead, it rejected it, forcing it back down to its support at $0.05. However, support held, and the price soon started making a series of attempts at $0.10. This is where we find it now; currently sitting at $0.076, and growing sharply to meet the $0.10 level once again.
Who is Kona Gold Solutions and what does it do?
Kona Gold Solutions is a premier hemp lifestyle brand, with a strong focus on developing products in the functional beverage sector. The company does this through two of its own subsidiaries — Kona Gold LLC, and HighDrate LLC.
Both subsidiaries are responsible for developing some very popular products, such as Kona Gold’s premium hemp-infused energy drink line, as well as energy shots, and even apparel-related products.
On the other hand, HighDrate the first CBD-based Energy Water in the industry, which was a big move for the company. It also made it available in four different flavors. After seeing massive growth following the release of these products, Kona Gold decided to expand its office and warehouse in Florida. The expansion allowed it to store greater amounts of its hemp-based energy drinks, CBD energy waters, and other products.
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Kona Gold Solutions stock price growth
As mentioned, Kona Gold Solutions’ stock price has been rather stagnant throughout 2018, despite numerous announcements by the company, which started partnering up with companies all over the US. In May last year, it announced distribution partners in New York and Bermuda. In June, it announced another partnership with a distributor in California. Another one arrived in July, in Massachusetts.
The company’s stock price did not react even when it hired a new Vice President of Sales, or when it entered distribution agreement with Southeast Beverage.
Kona Gold stock price finally started surging in early October, just after the company entered distribution agreement with liquid Culture Enterprises, to sell its CBD energy waters and hemp energy drinks.
The growth continued in months to come, while the firm kept announcing new flavors, new partners, and in October 2018 alone, the company recorded a 225% increase in revenue. With cannabis and CBD industries ready to explode, KGKG price growth continued throughout November, until it reached the height of $0.12. However, the price started experiencing a drop soon after, as the resistance at $0.10 was too strong for the price to overcome.
The drop was extremely slow, but steady, and KGKG price found itself at around $0.085 by the end of December 2018.
In January, it experienced a drop that took it back to $0.05. During this time, Kona Gold entered distribution agreement with Anheuser-Busch distributor, which is the largest distribution partnership that Kentucky Eagle Company entered to date. Additionally, the company partnered up with Huck’s convenience store chain, and it acquired Gold Leaf Distribution LLC.
After an extremely successful January, Kona Gold saw the stock price go up again, until it reached the price of $0.08, and then entered relative stability. As mentioned, there were a few attempts at growth, although none of them were successful so far, and the strong resistance level remained.
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But even so, Kona Gold still made some major announcements, such as numerous new distribution partners in Illinois, New York, Tennessee, Georgia, Missouri, New Jersey, and more. The company became the fastest growing beverage company in the hemp sector. With all of that in mind, and with its price seemingly preparing for another surge, now might be the perfect time to invest in Kona Gold Solutions. The firm has been making a lot of right moves and is bound to go big in the following years, or potentially even months. We will be updating on Kona Gold when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Kona Gold.
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Disclosure: we hold no position in Kona Gold either long or short and we have not been compensated for this article.
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This post first appeared on Micro Cap Daily