Kona Gold Solutions, Inc. (OTC: KGKG) stock price has been rather stable in the past three months. The price saw a massive surge that started in October 2018 and continued in early November. It reached its peak in late November when it reached and exceeded $0.10. However, this level continued to act as a strong resistance that eventually rejected the price, and pushed it down.
The stock value was declining slowly throughout December, which led to a much stronger drop in January 2019. However, as the month came to a close, the price grew once again, leaving its support at $0.05, and finding a new one at $0.075, which is where it mostly remained, excluding one short surge in late March, which took it back to $0.10. Now, however, the price is seeing another growth, which will likely lead to another attempt to breach the resistance at $0.10.
Who is Kona Gold Solutions?
Kona Gold Solutions, Inc. is a hemp lifestyle brand that delivers products in the functional beverage sector. The company has developed numerous CBD-based products, such as Energy Water, Energy shots, but also apparel products.
The company has two major subsidiaries — Kona Gold LLC, and HighDrate LLC. Kona Gold LLC is the one in charge of developing Hemp Infused Energy Drinks, including shots, as well as apparel, while HighDrate develops CBD Energy Water. The CBD Energy Water comes in four different flavors, which have become extremely popular.
The company’s popularity and rapid progress allowed it to expand its office space and warehouses in Florida, from which the firm continues with its product distribution to various other states.
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Kona Gold Solutions’ rapid progress
Kona Gold Solutions’ story started a long time ago, but the company started seeing rapid progress in October, right after entering a distribution agreement with Liquid Culture Enterprises. This is where its’ stock price surged, and where the company truly gained exposure, which led to the development of new flavors. By mid-October, the company also announced a partnership with a distributor, Ringo’s Wholesale, based in South Carolina.
The company’s growth in October can be witnessed in their November report, which claims that the company saw a 225% increase in revenue during October. At this point in time, cannabis and CBD stocks were growing throughout the industry, and Kona Gold used the opportunity to advance. The company hired seasoned executives and professionals, and it started producing new Alkaline CBD Water. It started seeing a lot more coverage, and many speculated that it would become the new age beverage corporation.
It launched even more different flavors, and its Q4 report claims that the company’s revenue has gone up by 400% from the previous quarter.
The company continued its rapid expansion in 2019 as well, starting with distribution agreements and partnerships, including Anheuser-Busch Distributor and Huck’s Convenience Store Chain. In late January, the firm also acquired Gold Leaf Distribution LLC and expanded to Illinois, Tennessee, New York, and Atlanta through new distribution agreements. In late February, the firm started distributing its products in Missouri as well, and in March, it reached Massachusetts and New Jersey. Finally, about a week ago, on April 15th, the company started producing new hemp energy drinks, as well as new CBD Energy Water flavors.
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Clearly, Kona Gold Solutions is advancing rapidly, and its stock is highly undervalued at the moment. The new growth is proof that the company’s price is likely to reach new heights in the following months, making this the perfect time to invest, as the stock price is still quite low. At the time of writing, KGKG price sits at $0.078, although the price is moving up, albeit slowly. 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.