This post first appeared on Micro Cap Daily
Kona Gold Solutions, Inc. (OTC Pink: KGKG) stock price has finally made its move, abandoning its bottom in a new, sharp surge which took the price from $0.075 towards $0.10. The price was stable at $0.075 for the most of 2019 so far, with the only exception being January when it dropped to $0.05. This drop came from a greater height, however, and it actually started in late November 2018.
The company’s stock price was very low for most of 2018, balancing at around $0.01 for months. In early October, the stock started surging, and it reached the heights of $0.12 in late November. However, immediately after reaching this price, it started seeing a decline which took it down to $0.05 in mid-January, as mentioned. The second half of January saw a recovery which led back to $0.10, followed by another correction to $0.075, where the price remained until recently. Now, KGKG sees a surge in value, with the current price sitting at $0.1015, after a 15.34% growth in the past 24 hours.
What do you need to know about Kona Gold Solutions
Kona Gold Solutions is a premier hemp lifestyle brand which focuses on the development of the functional beverage sector. Simply put, the company creates hemp-based drinks, including energy drinks, shots, and energy water.
It owns several subsidiaries tasked with the production of these beverages, including Kona Gold, LLC, which has developed Energy shots, Hemp-infused Energy Drink line, but also hemp-inspired apparel items. Then, there is HighDrate, LLC, which created the industry’s first CBD Energy Water, which comes in multiple different flavors.
The popularity of these drinks, particularly after the 2018 Farm Bill, allowed the company to reach massive success. In fact, it started seeing huge profits which allowed it to expand in its home state of Florida. The firm quickly acquired new office space, as well as new warehouses. With the growth of demand, the firm had to increase the produced amount of its beverages, but it also used the momentum to speed up its expansion.
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What led to Kona Gold’s massive growth?
As mentioned, Kona Gold did not have a volatile stock price for the most part of 2018. In fact, it was stagnant, despite the company’s major success when it comes to expansion. For months, the firm entered distribution partnerships in various states, it opened subsidiaries, and it even entered the crypto mining industry at some point, but none of that affected its price.
Instead, the company started seeing growth after entering a distribution agreement with Southeast Beverage, Inc and Liquid Culture Enterprises. Its hemp energy drinks and CBD-based energy water kicked off, and the company quickly started developing new flavors to boost customer interest and enjoyment.
By the end of October, the firm’s revenue surged by 225%, right at the time when the cannabis industry exploded, and land grab had kicked off. Meanwhile, Kona Gold kept doing what it does best — it entered new partnerships, and it came up with new flavors for its beverages. In mid-December, the company noted a 400% increase in revenue when compared to the previous quarter, which was a massive signal for investors that this is the firm to invest in.
The firm then started expanding to Illinois, New York, Tennessee, Massachusetts, New Jersey, and beyond, becoming the fastest-growing beverage company in the hemp sector.
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The situation has not really changed even today — the firm is still advancing at a massive pace. The only thing that is different now is that its stock price started surging again, after Kona Gold Solutions partnered with sixteen new distributors in fourteen different US states. It also decided to sponsor Ryan Dodd, the world champion and world record holder at ski jumping, which is likely what brought extra attention to the company. With its stock price now skyrocketing, investors have every reason to buy the company’s stock while the price is still low, as there is no telling how high it might grow in the months to come. 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