Kona Gold Solutions, Inc. (KGKG) has been acting noticeably different than most other companies in 2018. Where most other firms’ stock price suffered a massive price drop in late 2018, Kona Gold Solutions actually experienced growth. The growth came after months of the company’s stock price being at its bottom, just slightly above $0.01. Then, in early October, the stock price saw growth which took it past $0.05. After a small correction, the price surged yet again in late November, reaching $0.10. As 2019 started, the price went down to $0.05 again, and then it grew back to $0.073 in mid-January, which is where it sits now as well.
Who is Kona Gold Solutions?
Kone Gold is a premier hemp lifestyle brand, which focuses on product development in the functional beverage sector. The company has two of its own subsidiaries, including Kona Gold LLC, as well as HighDrate, LLC.
The first one is best-known for developing its hemp-infused energy drinks, energy shots, and apparel — including premium T-shirts and hats. As for the second one, HighDrate, it created the first CBD Energy Water in the entire cannabis industry, which is offered in four different flavors.
Thanks to the drinks’ popularity, Kona Gold was able to expand their business to their new warehouse and office space in Florida. This is where the company stores and distributes its new hemp energy drinks and other products, and from where it will continue its expansion.
Kona Gold is proud of its evolution, and it claims that it is more than just a company — it is a lifestyle. This indicates a strong connection to its customers, as well as an effort to provide them with the best products on the market. The company knows how big their competition is, and that there is a risk of being lost in the crowd, which is why they stand out through their unique offers.
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How Kona Gold moved its stock away from the bottom
Kona Gold stock price used to be much higher than it is today, but that was years ago. Unfortunately for the firm, it suffered a massive price crash back in 2012, and it never truly recovered from it. For the next three years, its stock price saw stability, by after mid-2015, it saw another drop which took it to its lowest point, just above $0.0013. These days, the stock price is climbing from those lows, and it is almost at the levels it has seen after between 2012 and 2015. The levels that acted as a bottom back then are now the major resistance — one that Kona Gold plans to overcome.
The company has worked hard to achieve that, and in 2018, it announced numerous distribution partners, massive product movement, and it even entered the crypto space through its subsidiary BitHive Mining.
The company finally saw results of its hard work in October, right after it entered a distribution agreement with Southeast Beverage, Inc. The company continued making deals and agreements, developing new flavors, and its revenue in October surged by 225%. The interest in the company was growing once again, and rapidly. The future of cannabis and CBD stocks saw a lot of positive predictions and Kona Gold took the opportunity to grow. It hired new professionals as its executives, created even more new flavors, and it saw its revenue go up by another 400% in November.
This brought a lot of additional attention to the company, which in turn entered even more distribution agreements, with its products now gaining massive amounts of popularity. The company then acquired Gold Leaf Distribution, and entered many more partnerships across the US, including states like Illinois, New York, Tennessee, Missouri, Massachusetts, and others. Eventually, the company became the fastest growing beverage company in hemp sector, with its expansion continuing even now.
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As mentioned, KGKG price at the time of writing sits at $0.073, after a recent attempt to breach the $0.10 resistance level. While the price may have been rejected, the company’s growing popularity, as well as its rapid expansion, are only going to continue, and the price will catch on as well, sooner or later. This might be the perfect time to invest, as the cannabis industry slowly but surely continues its climb. 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.