Ancillary cannabis stock picks are ideal for gaining market exposure while minimizing risk. For bargain investors, KushCo Holdings Inc. (OTC: KSHB) is a top alternative stock today.
KushCo started as a packaging producer for the cannabis industry. Management soon realized that explosive growth in direct sales couldn’t be ignored. The company has since expanded into the popular vaporizer market with accessories and vape devices.
Expansion and diversification was definitely the right move for the company. In its most recent first quarter, the company grew revenue by 40% year over year. This was followed by -14% net revenue decline in the second quarter, which can be partially attributed to a slowdown caused by Coronavirus-related market tensions.
Long-term, the company has the potential to grow along with the wider cannabis industry. It’s in a good position to see out the Coronavirus Pandemic. In its most recent quarter, it reported over $11 million in cash, compared to the $3.9 million it had in the year ago period. With a penny-priced stock, now could be the perfect opportunity for investors willing to grow their portfolios with high potential bargain picks.
The average analyst target price of $1.92 on this stock suggests a strong mid term upside.
- 1 Year Price Growth: -86.52%
- YTD Price Growth: -55.95%
- 3 Month Price Growth: -62.76%
All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.