We’re now three-fourths of the way through 2019, and it’s certainly been an eventful year so far. Although the S&P 500 is up by nearly 20% year to date, there has been quite a bit of volatility along the way. And while the market as a whole has performed well, some stocks still look cheap as we head into the last quarter of the year.
American Premium Water Corporation (OTC:HIPH) rallied last year over 1000%, and is now sitting on its prior support levels. The stock has been trending downward lately, and if HIPH were to bounce off its lows, it will signal potentially another wave were it will reach higher values, so short-term traders could look for a bounce off the key support levels for an entry point. Normally this kind of bounce back is seen as a short-term turning point.
The stock price, which closed yesterday at $0.0067, is trading below its 100 and 200-day moving averages, which has historically indicated a bounce is innevitable.
The company recently announced that its Lynks CBD Pet Water, a joint venture with LinkRes Pets (OTC:LRSV) was available for sale on SingleSeed.com.
Based on his recent tweets, CEO Ryan Fishoff was at Chewy (NYSE: CHWY) Office meeting about LINKS CBD Pet Water. Distribution deal around the corner? We hope so!
Chewy, Inc., a subsidiary of PetSmart based in Dania Beach, Florida, is an online retailer of pet food and other pet-related products
According to the American Pet Products Association, Americans spent an estimated $69.36 billion on their pets in 2017, which was up from $66.75 billion in 2016. Given the sheer size of this industry, it’s no wonder cannabis companies are expecting CBD-for-pets to attract many investors.
Dogs and cats are increasingly taking the non-intoxicating cannabis compound as their owners seek to provide relief to their four-legged friends for everything from anxiety to pain and seizures. While there’s scant data proving CBD works for any of these ailments, some people are swearing by it and more vets are prescribing it.