TOTALLY HEMP CRAZY (OTCMKTS:THCZ) made an amazing comeback yesterday but the question is if it would sustain its current momentum or lose it soon again. The rally appears to be driven by two set of updates provided by the company in the recent days. Firstly, the company reported record revenues from the sale of its Rocky hemp based beverage and secondly, another distribution agreement in Oklahoma.
Two developments
The hype around TOTALLY HEMP CRAZY (OTCMKTS:THCZ) at this moment is majorly driven by the announcement of third quarter results. The company claims to have attained $67,663.51 in revenues from sales of its Rocky Mountain High hemp based beverage in a matter of two weeks. Also, the company projected $700,000 sales for its next quarter based on the current rate of sales. Meanwhile, TOTALLY HEMP CRAZY (OTCMKTS:THCZ) tried to boost investors’ confidence by stating that it has scaled up its production by 25% to 60,000 cases and anticipates successive manufacturing runs to continue for upcoming 6-12 months.
Addressing the issues
Another development taking place with the company is its new distribution agreement with Dr. Pepper Bottling Company, located in Elk City, Oklahoma. This is the first time that TOTALLY HEMP CRAZY (OTCMKTS:THCZ) will make its Rock Mountain hemp-based beverage available in Oklahoma. Simultaneously, Jerry Grisaffi, Founder of the company, also tried to clear the air about the Caveat Emptor placed against its stock by OTCMarkets.com. He said that it is an error, and the company is constantly working with the compliance department to resolve the issue.
The statement might have uplifted TOTALLY HEMP CRAZY (OTCMKTS:THCZ) right now, but it does not lessen the risk around the company until OTCmarkets truly released the Caveat Emptor. The share price of the company soared by 23% to $0.166 yesterday while as much as20.91 million shares traded on the day.
