New Rebel Hemp Products to Join Hollister Biosciences’ #1 California Hash Infused Pre-Roll Brand “HashBone”
Updated Technical Analysis Review of HOLL Stock Price Action and Chart
Hollister Biosciences (CSE: HOLL) (FRA: HOB) announced yesterday that its hemp division, Rebel Hemp Company will be launching a new line of premium hemp pre-rolls.
Hollister reported that the company signed an LOI with Mountain Financial for a proposed offtake agreement. As per the terms of the deal, Hollister will buy 1,000 lbs of hemp from Mountain Financial to use in the creation of the Rebel Hemp pre-rolls as well as various other smokable hemp products. Hollister’s new Rebel Hemp pre-rolls will join the company’s smokeable product lineup which includes its extremely successful hash infused pre-roll brand HashBone.
Carl Saling, Hollister Biosciences’ Founder and CEO provided the following comment in regards to the company’s new deal with Mountain Financial: “We are very excited to be working with Mountain Financial Solutions LLC. Their unique high CBD hemp strains are just what we were looking for to launch our smokable hemp pre-roll line.”
The new Rebel Hemp pre-rolls will be manufactured by Hollister to be sold in packs as well as individually. The smokable hemp sourced from Mountain Financial’s farm in Paso Robles, California will be selected from CBD-rich hemp strains to provide smokers with a consistent, flavorful and relaxing experience.
Mountain Financial Solutions is located in the Paso Robles wine region of California where the company currently grows multiple strains of smokable hemp on their 100-acre farm which is surrounded by beautiful vineyards. Mountain Financial’s hemp flower is considered the highest quality hemp in California.
“We are happy to announce our agreement with Hollister Cannabis Co and look forward to a long-lasting relationship. I have known Carl for over 20 years and he’s one of the best in the business,” said Ronald Hodge of Mountain Financial Solutions.
HOLL Stock Price Action & Chart
Shares of Hollister Biosciences’ CSE listed HOLL stock closed trading today at $0.135 per share, down 10% on the day. Overseas on Germany’s Frankfurt Stock Exchange, the company’s German listed shares closed today’s trading session down 9.48% at $0.105 per share.
HOLL stock has been trading in a clearly defined trading range with support at $0.11 and resistance at $0.19 since the stock went public in late November of 2019. HOLL attempted to break out from this range on February 7th and 10th but due to overly aggressive selling pressure, the stock failed to confirm the breakout and fell back into the range where it currently trades today.
It’s normal for a stock to take multiple attempts to break out from a trading range so look for HOLL stock to attempt another breakout soon. A quick test of support at $0.11 could happen first giving buyers another chance to load up on cheap shares. Hollister is rapidly emerging as a force to be reckoned with in the California cannabis market and we’re confident there’ll be plenty of positive catalysts in the pipeline to help propel HOLL to new highs.
Learn more about Hollister: Corporate Profile | Website | IR Website | Investor Deck | HOLL Chart
Follow Hollister on Social Media: Facebook | Instagram | Twitter | LinkedIn
Did you enjoy this article? If so, sign up for our Email Newsletter below to start receiving our weekly recap of the week’s best articles.
Also Read: Hollister Biosciences and Cannabis Legend Tommy Chong Sign Licensing Deal
Hollister to Manufacture and Distribute Tommy Chong’s Cannabis™ Full Spectrum Elixir 1:1
The Most Anticipated U.S. MSO IPO of 2020 is Drawing Near
The Cannabis Sector is Long Overdue for a High-Profile IPO
The Wait is Nearly Over, TCI’s MSO IPO of 2020 is Almost Here
Get Your Copy of The Ultimate Cannabis Investing Guide
Join the Discussion in the TCI Investor Group
Hollister Biosciences is a paid client of The Cannabis Investor.
This report/release/profile is a commercial advertisement and is for general information purposes only. We are engaged in the business of marketing and advertising companies for monetary compensation unless otherwise stated below.
Featured ArticlesCannabis Stock NewsCannabis Industry ArticlesTechnical Analysis ArticlesWatch Cannabis Stock Videos