KGKG stock has formed a beautiful candle over candle reversal on the chart. This is that crazy divergence we noted several days ago between a blockbuster quarterly report that’s stuff of legends, but the stock price of KGKG kept falling.
To review, on November 13, 2019, Kona Gold Solutions, Inc. (OTC Pink: KGKG), a hemp and CBD lifestyle brand focused on product development in the functional beverage sector, announced an eye-popping 1,845% year-over-year revenue growth! The Company posted revenue of just $73k through the first three quarters in 2018 and $1.42 million through the first three quarters of 2019. During the same period, the Company’s increase in revenue was reflected in its market capitalization.
In the first three quarters, Kona Gold has made a significant impact in the functional beverage market with its hemp and CBD product lines. During that time, the Company has expanded operation into South Carolina with its 30,000 sq ft distribution center, partnered with over 60 distributors in 36 states, expanded its Kona Gold Hemp Energy Drink and HighDrate CBD Energy Water lines from 9 SKUs to 15 SKUs, launched its new product line – Storm CBD High Alkaline Water, and signed key partnerships with the American Breast Cancer Foundation and World Champion Ski Jumper, Ryan Dodd.
In January of 2019, Kona Gold forecasted $1.5 to $2 million in revenue, which the Company has already hit in early October. The Company has recently set projections of $6-$8 million for 2020 based on demand for its current products, new product launches for 2020, and current developments in the last quarter of 2019.
“I’m excited to announce to our shareholders the phenomenal growth Kona Gold has experienced over the last year,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “The Company’s revenue has grown over 1,800%, year-over-year, which is not only amazing, but a testament to the hard work our team has put in. We anticipate our growth to continue into Q4 of this year and into 2020, as our team continues to execute and grow our market presence.”
On November 5, 2019, Kona Gold Solutions, Inc. (OTC Pink: KGKG), announced that it signed a distribution agreement with Alabama based AlaBev. AlaBev will distribute the Company’s popular Kona Gold Hemp Energy Drinks across the entire state of Alabama, placing the Company’s products in new key markets across the state.
AlaBev is an Importer and DSD (Direct Store Delivery) Wholesale Distributor of beer, cider, wine, spirits and alcohol free beverages. Their coverage area is the State of Alabama in the US.
COO of AlaBev Matt Kilpatrick says, “It is an exciting time in the functional beverage segment. Science and innovation are paving the way for brands like Kona Gold to enter the market. We anticipate a great reception for the product and look forward to how it plays within an industry on the move.”
“As we continue to gain market share in the functional beverage segment, it’s imperative that we partner with established and experienced beverage distributors that can have a big impact in key markets,” stated Robert Clark, CEO of Kona Gold Solutions, Inc. “With over 100 years in the industry, we are excited to be partnering with AlaBev, who will be distributing our Kona Gold Hemp Energy Drinks across the great state of Alabama. We look forward in working with their team on having a successful rollout and a long lasting relationship.”