High Hampton Holdings Corp (CNSX: HC) Making A Comeback

High Hampton Holdings Corp (CNSX: HC) bounce back from one-year lows continues to gather pace in continuation of an emerging bullish uptrend. The stock is already up by more than 40% for the year as bulls continue to take the fight to the bears.

High Hampton Holdings Price Analysis

The spike comes on the company confirming plans to become a brand and distribution leader in California. The company has since commenced Los Angeles County development project, a milestone that continues to prop the stock’s market sentiments.In the recent past, the company has secured an approval to operate a wholesale cannabis distribution facility in West Sacramento, marking an important milestone as part of the expansion drive. The company has also continued to strengthen its prospects in the industry through acquisitions as well as the expansion of the product line.A flurry of positive developments continues to strengthen investor confidence in the stock consequently fueling the stock’s upward momentum. After spiking to highs of CA$0.42, High Hampton Holdings has corrected lower in what appears to be a minor correction pending further upside action. HHPHF Daily ChartThe pullback has since experienced strong support at the CA$0.33 level from where the stock is trying to bounce back to this year highs. A rally-followed bay close above the CA$0.42 mark should reaffirm him emerging uptrend, setting the stage for the stock to continue climbing the ladder.Conversely, failure to hold above the CA$0.33 mark could result in the stock plunging further, probably back to the CA$0.26 mark, the next support level.

What Does High Hampton Holdings Do?

High Hampton Holdings casts itself as a cannabis sector brand and distribution company. While headquartered in Canada, the company is seeking to become a vertically integrated operator in California’s legal cannabis space. The company is seeking to serve both recreational and wellness markets.

California Expansion Push

High Hampton Holdings has started bottoming out on investors reacting to a string of positive developments that affirm the company’s growth metrics as well as long-term prospects. As part of a plan to become a brand and distribution leader, the company has completed a string of acquisitions and investments.The company has since confirmed plans to own and operate processes that allow it to manufacture, infuse and package high quality branded products for the recreational wellness market. The vertically integrated company is also planning to strengthen its retail network as well as take advantage of valuable data and insights to understand market demands.

"This is an exciting time for High Hampton. Our acquisitions are fully taking shape, and we will be in revenue early in 2019, with an aggressive growth path through the year and beyond,” stated Gary Latham, CEO of High Hampton Holdings.

Expansion into the U.S has since seen High Hampton Holdings commence the development of a manufacturing and distribution center in Los Angeles. The new facility will accommodate cannabis nursery, manufacturing, processing, packaging, and distribution operations.With the new facility, the company should be able to service the needs of California’s cannabis market and in the process generate significant revenues. In West Sacramento, High Hampton Holdings has secured approval for operating a wholesale cannabis distribution facility through its wholly owned distribution arm Bravo Distort.

Q2 Milestones

The expansion drive comes on the heels of High Hampton Holdings achieving significant milestones in Q2 ended February 28. For starters, the company completed the acquisition of Mojave Jane as part of an effort of accelerating inorganic growth. The company also secured six new state licenses on its property in Cudahy for cultivation, distribution, and manufacturing of cannabis.High Hampton Holdings has also released three new products into the market as it seeks to address the growing demand as it also continues to build an award-winning brand. The company has also acquired a 40% stake in 2083 Group, a leader in California’s cannabis delivery and brand space. With the acquisition, the company strengthens its logistics network in the cannabis sector.

Bottom Line

High Hampton Holdings is on track to generate significant revenues in 2019. Expansion into new markets as well as the development of the distribution network and the unveiling of new products affirm the company’s transition into revenue generating entity.The stock has already recovered from a harrowing crash in 2018 and now looks set to continue its solid performance in the market. We expect the stock to continue climbing back towards the 2018 highs.We will be updating our subscribers as soon as we know more. For the latest updates on CNSX: HC, sign up below!Disclosure: We have no position in CNSX: HC and have not been compensated for this article.