Kona Gold LLC (OTCMKTS:KGKG) Stock Pulls Back On Profit Booking: Company Reports Beats February Revenue Projections

March 9, 2022March 9, 2022 Pete Matthews $KGKG, $KGKG news, $KGKG stock, $Kona Gold LLC (OTCMKTS:KGKG), $OTCMKTS:KGKG

Shares of Kona Gold LLC (OTCMKTS:KGKG) pulled back a bit after the recent jump.

Market Stats

On Tuesday, KGKG stock fell 7.35% to $0.0063 with more than 49.18 million shares, compared to its average volume of 11.60 million shares. The stock moved within a range of $0.0055 – 0.0089 after opening trading at $0.0073.

Kona Gold Beverage, Inc. Beats February Revenue Projections

Holding company focusing on product development in hemp and CBD functional beverage sector, Kona Gold LLC (OTCMKTS:KGKG) on March 8, 2022 announced that the firm has beaten February Revenue Projections. The firm projected $325,000 in revenue for the month but closed about $345,000 in revenue between the two subsidiaries, Gold Leaf Distribution LLC and Kona Gold LLC.

The company is on track for having the first quarter with over million plus in revenue. Kona Gold is laying groundwork for a fantastic year with both subsidiaries as the firm is witnessing demand growth for new Sparkling Lemonades and Ooh La Lemin Lemonades. Rebranding of its popular hemp energy drink, Kona Gold, will begin in quarter two. The firm is also anticipating significant revenue growth in second quarter with spike in beverage demand. Gold Leaf Distribution, the Company’s distribution subsidiary is a growth engine, as it became one of largest distributors in South Carolina.

Robert Clark, CEO of Kona Gold Beverage expressed excitement with shareholders on exceeding February revenue forecast. Clark added that the team is working on a number of opportunities, that would be closer to fruition in the coming time. The CEO added that the firm is on track for having first million-dollar quarter.

The firm also announced that Ooh La Lemin Lemonades will be part of Walmart brick and mortar stores.

Traders Corner

KGKG stock is trading above the 20-Day and 50-Day Moving averages of $0.0049 and $0.0053 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0138.

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.