Rocky Mountain High Brands Inc (OTCMKTS:RMHB) sentiments in the market have turned from bad to worse. The share price has taken a significant hit even on the company serving a number of catalysts that affirm progress on the pursuit of revenues and shareholder value. With short sellers in control, thing are not looking good.
Soaring shorts selling pressure is the latest headwind that continues to deal the stock’s prospects a big blow in the market. Investor sentiments have since hit an all-time low on most of them becoming weary of the declining share price and market price.
Rocky Mountain High Brands has sort to revitalize investor interests with a string of big announcements. For starters, the company says it is in discussion with a multinational conglomerate in Mexico from which new opportunity could emerge.
The company is also fresh from signing a multi-level marketing and distribution agreement with CJC Live Media. The embattled company has also unveiled a new line of HEMPd CBD-Infused Flavored waters as it continues to strengthen its pipeline of CBD products.
Rocky Mountain High Brands Price Analysis
Investors have continued to push the stock lower at the back of massive developments that could shape the company’s prospects and growth metrics. After plunging below the $0.01 mark, the stock remains in a precarious position and susceptible to further declines.
Below the $0.01 mark, short sellers remain in firm control and could continue pushing the stock lower. Rocky Mountain High Brands needs to rise and stabilize above the $0.01 mark, if it is to have a chance of bouncing back after coming under immense selling pressure in 2018.
What Does Rocky Mountain High Brands Do?
Based in Dallas Texas, Rocky Mountain High Brands is a cannabis-focused company that develops, manufactures and sells hemp infused food and beverage products. The company boasts of a pipeline of naturally flavored hemp infused beverages such as citrus and Mango energy drinks.
Mexico Sales Opportunity
A dip in share price and market value does not in way paint a clear picture of the ongoing at Rocky Mountain High Brands. For starters, the company has continued to fire on all cylinders as it continues to strengthen and expand its operations.
The company’s representative is fresh from meeting executives of RCH Group in pursuit of sales opportunities in Mexico. Depending on the outcome of the talks, the company’s Rocket High CBD infused energy drink could soon find its way into the Mexican market.
The company is also hoping to use the opportunity to sell its CBD infused California Lemonade and California Black Tea in the country.
“We are proud of the efforts of our Team Mexico in the ongoing development of the Rocket High and California beverages. Kathy Fernandez, one of our team members from RMHB represented the Company well in the meeting with executives of RCH Grupo, the parent company of CBD Alimentos de S.A,” said CEO Michael Welch.
Multi-Level Marketing Deal
In addition to pursuing sales opportunities in Mexico, Rocky Mountain High Brands has signed an exclusive multi-level marketing and distribution agreement with CJC Live Media. Under the terms of the agreement, Rocky Mountain products will become the lead products in the CJC Live network-marketing platform.
The interactive media firm is in the process of building out a direct sales network and project of between 7,000 and 10,000 members. Each of the members is to become a sale representative of Rocky Mountain High Brands products.
The CJC multi-level marketing agreement is of great importance as it is poised to expand Rocky Mountain High Brands product exposure. In addition, the deal also paves the way for the company to leverage the power of cryptocurrency. Customers will be able to purchase its products using CJC Live Media native coin TruGold Token. However, Rocky Mountain is to be paid in dollars for any inventory purchases.
Rocky Mountain High Brands has taken a significant hit in 2018, and things are not looking any good in the short-term. Soaring short selling pressure is a big concern given that the stock has already plunged below the $0.01 mark.
Amidst the implosion, one cannot dispute the fact that the company is working round the clock to strengthen its long-term and growth prospects. The pursuit of sale opportunities in Mexico, as well as the signing of a multi-level marketing and distribution agreement, affirms the management team pursuit of revenues.
After the recent sell-off, it might be wise to wait for the stock to bounce back and stabilize above the $0.01 to consider it a long-term play.
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Disclosure: We have no position in RMHB and have not been compensated for this article.