ROCKY MOUNTAIN HIG COM USD0.001 (OTCMKTS:RMHB) has been on a parabolic rise over the last few days. It has surged from its murky depths at its 52-week lows of $0.022 to $0.037 staging a massive reversal in the last seven trading days. The stock has surged 50% in very short order and may have more room to run.
RMHB traded at over $0.32 in 2015 and has been in a death spiral over the last year plus a few months. It had a parabolic move in 2015 rising over 4,000% from sub-penny level all the way to $0.32. Is RMHB setting up for another explosion?
RMHB is a Dallas-based consumer goods brand company. It specializes in the development, manufacture, marketing, and distribution of high quality, health conscious, hemp-infused food and beverage products. The company stock took off in the hay days of the legalization of cannabis that sent all cannabis related stocks through the stratosphere.
The company is selling some of its products through Amazon and its seems to have pretty good reviews for its products ranking 4.8 out of 5 stars with over 440 reviews. Now whether these reviews are legit or not is yet to be determined as Amazon has had issues with paid reviews and companies inflating their reviews. However, at first glance it seems to be legit.
The legal cannabis market brought in $2.4 Billion last year and is now the United States fastest growing industries. It is estimated that the industry could grow to $11 Billion by 2019…a huge, growing industry that has lots of potential for many products relating to cannabis that RMHB looks to be capitalizing on. RMHB seems to be focusing its business strategy on hemp infused beverages, but there could be more on the horizon and a diversification into new product lines. Its Facebook page has over 30,000 followers,
RMHB has been expanding its management base by adding a few members to its board of directors. The first is Winton Morrison who is one of the largest sellers of commercial and residential properties in the Hudson Valley. Winston is acting as interim CEO, as Tom Shuman decided to step down from the position. RMHB plans to find a replacement soon and should be expected any day. It also added Charles Smith as another member of the board of directors. Mr. Smith is also another real-estate developer. We will keep an eye on where this company is headed with two real-estate investors on the board.
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RMHB is currently trading at a $6 million market valuation. It has an interesting product offering focusing on hemp infused beverages that seems to be pretty well perceived with several hundred happy customers. RMHB will need to take this to the next level to generate significant revenues, profitability, and growth. This is an exciting microcap company operating an industry that is dynamic and offering huge returns to investors.
We will be updating on RMHB when more details emerge so make sure you are subscribed to Microcapspot so you know what’s going on with RMHB.
Disclosure: we hold no position in RMHB either long or short and we have not been compensated for this article.