Long time readers of my marijuana industry coverage may recall an outfit I ragdolled called Kaneh Bhosm Biotech (KBB.C) a year or so back. They’d planned to release cannabis vending machines out into the wild, which would have been great if such machines were legal. Then they put out a press release claiming a deal with a company I could find no mention of anywhere online, except in a corporate search that showed it was created days before the release went out.
Suffice to say, nothing ever came of those promises of world domination. But Kaneh Bhosm is up 26% today, and over 300% since early June? In a world overseen by a just god, this could make no sense.
So today I finally got around to figuring out why. Kaneh Bhosm, which literally means ‘aromatic hemp’ in Hebrew, now has a chunk of gold property in Mexico.
And they over-subscribed on their raise.
Which just goes to show, when miners who jumped to weed jump back to mining, the markets are indeed cyclical.
Good luck, fellas. Say hi to all that ‘free media.’Disclaimer: ALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment professional before making an investment. This communication should not be used as a basis for making any investment.