If there is one stock that could well be on the radars of most investors this morning then it is going to be the Rocky Mountain High Brands Inc (OTCMKTS:RMHB) stock. It was in considerable focus yesterday among investors and ended up generating gains of as much as 22% amidst heavy interest. Considering the magnitude of the gains made by the company, it could be a good time for investors to consider taking a closer look at its business and also recent developments.
Trading Data
On Wednesday, RMHB stock surged 21.62% to $0.0225 with more than 7K shares, compared to its average volume of 81K shares. The stock moved within a range of $0.0207 – 0.0225 after opening trading at $0.0207.
About The Company
Rocky Mountain High Brands is a diversified company that is essentially focused on bringing about improvements in the quality of beverages. The company claims that it is looking to produce beverages in a range of innovative flavors that are healthier than other products in the market. The company owns the brand Great Choice and sells a wide range of medical products under it.
In fact, it ought to be noted that Rocky Mountain High Brands owns a number of subsidiary units that are involved in different lines of business.
Rocky Mountain High Brands’ Subsidiary Increases Product Versatility and Production Capacity
Yesterday, its fully owned subsidiary unit Rocky Mountain Productions Inc was in the news after Rocky Mountain High Brands made a major announcement regarding the subsidiary. It was announced that Rocky Mountain Productions had made an upgrade to the reverse osmosis process and deionized the water systems as well. However, that was not all, it was also noted that the subsidiary had also completed the acquisition of more equipment.
The steps had been taken in order to help Rocky Mountain High Brands in boosting production capabilities, and variety of products and also lead to better value. It is all part of the move to expand the business in a meaningful way. The announcement was a significant one considering the fact that it could potentially lead to a boost in production and unlock more value. It was noted that the additional equipment which have been acquired are going to help Rocky Mountain High Brands in boosting capabilities on one hand and lead to greater efficiency in the manufacturing process on the other. It remains to be seen if the Rocky Mountain High Brands can add to its gains today.
Technical Data
RMHB stock is trading above the 20-Day and 50-Day Moving averages of $0.0205 and $0.0194 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0172.
