This Is Why Rushnet Inc (OTCMKTS:RSHN) Is Skyrocketing

Rushnet Inc (OTCMKTS:RSHN) is plotting a major come back if recent price action activity is anything to go by. Renewed investor interest appears to have triggered a high turnover in traded shares fuelling a bullish run that threatens to push the stock past the critical $0.001 psychological level.

Upward Momentum Catalyst

RushNet is the subject of renewed investor interest on announcing plans to acquire cannabis growers with annual revenues of up to $62 million. The acquisition drive has already seen the company acquire trucking company, GreatRateFreight Inc., which boasts of a target audience of 7 million truckers in North America.The stock is also the center of attention on the company announcing successful testing of a CBD Enhanced juice and other products. The product testing comes on the heels of RushNet confirming the acquisition of HempHUB a mobile application targeting the fast-growing hemp/CBD and medical marijuana industry.

RushNet Price Analysis

The string of positive developments has sent the stock price rallying in the market after coming under immense pressure in the second half of the year. While the stock is still languishing below the $0.001 mark, recent price action activity points to a rally back to the psychological level. RSHN Daily ChartAfter the recent spike higher, the stock faces immediate resistance at the $0.004 level. A rally followed by a close above the critical resistance level should open the door for the stock to make a run for it 52-week highs of $0.008. On the downside, the stock faces immediate support at the $0.001 mark, below hitch it remains vulnerable to further drops.

About RushNet

RushNet casts itself as a beverage company with operations in North America. Its flagship products include cane-sugar sweetened and natural soda beverages under the Ginseng Rush, and Rush Herbal Cola trademarks. The company has also expanded its operations into the CBD space where it is developing beverages enhanced with CBD.

Acquisition Drive

RushNet appears to have caught the attention of investors on announcing plans to acquire cannabis growers with $62 million plus in revenues. The company has already reached the final stages of negotiations with various licensed cannabis growers in Colorado and California.

“Implementing our synergistic acquisition model, these acquisitions are an important step for us to become a substantial player in the cannabis sector. We are exploring opportunities available to us to aggressively expand the size of our operations and are looking at multiple acquisition targets we hope to announce soon,” said Mr. Goulding.

The cannabis grower’s acquisition drive comes just days after RushNet completed the acquisition of trucking logistics company GreatRateFreight Inc. in partnership with XYZ Hemp Inc. The trucking company will provide two major sources of revenue for both companies as it boasts of a target audience of over 7 million truckers in North America.GreatRateFreight comes with a unique platform designed to significantly enhance profits and opportunities for both truck drivers and shippers alike. The trucking company projects annual gross revenue exceeding $60 million expected to lead to profits of more than $30 million.

“Not only will we benefit from transport for our own product line, but also from rolling out a proprietary platform to a significant portion of the approximately 7 million truckers nationwide,” said CEO Frank Deangelo.

Product Line Expansion

In addition to the acquisition drive, RushNet has also moved to strengthen its product line as it looks to be a key player in the cannabis sector. The company in partnership with Apple Rush Company and XYZ Hemp Inc. have consequently completed the testing of CBD enhanced blueberry Flavored Apple Rush and Beer.The three companies are currently working on a joint venture for the creative production and marketing of the protracted CBD infused drinks. The companies have already identified retail outlets as well as 700 dispensaries that are to carry the new product line in California.

What Next For RushNet

Over the past one year, the stock has remained subdued in the market depicted by reduced trading activity. Increased volatility and a high turnover in traded shares attest to renewed investor interest in RushNet.The serving of groundbreaking catalysts with the acquisition of cannabis growers as well as GreatRateFreight has once again revitalized the company’s growth metrics. RushNet has once again echoed its commitment to pursuing opportunities in the multi-billion sector if recent investments are anything to go by.That said the stock looks set to continue climbing high after the recent rally as investors continue to take note of growing investment opportunities in the cannabis sector.We will be updating our subscribers as soon as we know more. For the latest updates on RSHN, sign up below!Disclosure: We have no position in RSHN and have not been compensated for this article.