This post first appeared on Micro Cap Daily
Kona Gold Solutions, Inc. (OTC Pink: KGKG) stock price continues to see massive growth in May 2019, with its price currently exceeding $0.13 and continuing on its way up. The company’s stock price saw months of inactivity in 2018, sitting at $0.01 for the better part of the year. Then, in the first days of October, the stock price started surging, and it quickly breached $0.05. However, the breach was rather short, and the price found itself below this level by the last week of the month. But, it surged yet again in early November, exceeding not only $0.05 but also $0.10.
The resistance at $0.10, while briefly breached, still did not allow the price to remain above this level, and the correction followed. As a result, the price dropped back to $0.05, which now started acting as major support. However, the price did not stay at this level for long, and it quickly made another attempt at breaching $0.10 in early February. This time, it only reached this level, without successfully going above it. Instead, another minor correction followed, bringing the price down to $0.8. This is where the price remained from mid-February to late April. In the final days of April, however, another surge took place, and it breached $0.10 for good, allowing the price to come to its current height of $0.137.
Who is Kona Gold Solutions?
Kona Gold Solutions is a well-known premier hemp lifestyle brand that mostly focuses on product development in the functional beverage sector. Simply put, the company makes hemp-based drinks, with the help of its two subsidiaries. The first of these firms is Kona Gold, LLC, which has created a premium hemp-infused energy drink line, as well as energy shots. The company also produces other products, such as apparel-type items.
The firm’s second subsidiary is HighDrate, LLC, which has created the first CBD energy water in the industry, thus bringing an entirely new product which has seen a massive amount of demand ever since. The CBD energy water comes in 4 flavors, with many new ones potentially following in the future.
The company’s success, as well as an increase in demand, allowed it to significantly expand its office space, as well as warehouse located in Florida.
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Kona Gold’s rapid expansion
As mentioned, Kona Gold’s stock price remained dormant for months in 2018, despite numerous announcement of new distributors that expanded the company’s reach in various states. It wasn’t until the firm entered a distribution agreement with Southeast Beverage, Inc. and Liquid Culture Enterprises that the public started taking notice.
Once the company went big, its stock price surged, as mentioned earlier. In response, the firm developed new flavors for its hemp energy drink product line and continued entering new distribution partnerships, such as Ringo’s Wholesale.
In late November, the firm announced that it is starting the production of all new Alkaline CBD Water, which is when its price was at its highest point at the time. After that, the firm launched new hemp energy drink flavors, although the stock price already started to drop at this point, as a consequence of running into strong resistance. Even so, the firm noticed a 400% surge in revenue, when compared to the previous quarter.
Then came 2019, and the firm’s stock price reached stability at $0.08, where it stayed until late April, despite the acquisition of Gold Leaf Distribution LLC, as well as partnerships in Illinois, New York, Tennessee, Atlanta, Missouri, and more.
The late-April announcement that Kona Gold Solutions partnered up with sixteen new distributors in fourteen different countries brought new attention to the firm. So did the fact that Kona Gold decided to sponsor the world champion and record holder in ski jumping, Ryan Dodd. These announcements launched the stock price to its current level, and will likely allow it to go well beyond where it currently sits.
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With that in mind, now is the perfect time to invest in Kona Gold Solutions, Inc., as doing so is likely to bring major returns in weeks and months to come. The company is one of the fastest-growing cannabis firms right now, and with the industry heading for the stars, it will likely be smart and profitable to join in early. We will be updating on KGKG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with KGKG.
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Disclosure: we hold no position in KGKG 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