TOTALLY HEMP CRAZY (OTCMKTS:THCZ) recorded gains of more than 10% on Monday’s trading session, marking a strong start to the week. As per the recent PR, the company’s third production run of it’s the Rocky Mountain High hemp-infused drink amounting to 60,000 cases is being planned with the bottling facility with a target production period of next two to three weeks.
It was taken by investors as promising news, and it probably is, as it proves Totally Hemp and Amazon.com, Inc. (NASDAQ:AMZN) combined efforts are yielding results. The widespread opinion is that the new launch is the company’s gateway to profit, and the opinion is gaining strength with every press release issued pertaining to the Rocky Mountain beverages.
The company disclosed that the production run will cover all the four hemp-based variants. It also confirmed that the target of 1 million cans will surpass by 70% in the quarter itself. The completion of targeted production run amounts to production of 1,720,000 cans. In addition, the company also said that it shifted to new office at Texas with an objective to achieve rapid growth.
As mentioned before, Totally Hemp’s past achievements are not impressive. There are reports that keep on stating that the company owns minimal revenues and assets, and at the same time have surging short term debt. The company seems to be generating revenue no, but there is no information that can investors know about the profitability of the company. There are no clear figures on revenue or on the other factors like cost and gross profits. However, Totally Hemp has failed to provide investors with such information.
In last trading session, the stock price of TOTALLY HEMP CRAZY (OTCMKTS:THCZ) declined 0.60% to close the trading session at $0.249. The decline came at a share volume of 2.49 million compared to an average share volume of 17.09 million. The company’s market cap stands at overwhelming $91 million.