American Premium Water Corporation (OTCMKTS:HIPH) Stock Moves Up 10% After Announcing Key Expansion

American Premium Water Corporation (OTCMKTS:HIPH) was up 10% after announcing the availability of CaliBear CBD products for sale on GrubHub’s subsidiary Seamless.

Market Stats

On Thursday, HIPH stock gained 10% at $0.0022 with more than 5.5 million shares, compared to its average volume of 7.11 million shares. The stock has moved within a range of $0.0020 – 0.0024 after opening trading at $0.0021.

Expands Distribution in New York City of CaliBear

Following the announcement, customers across Manhattan will now access CaliBear CBD products on the national food and drinks delivery app through East Village Farm and Grocery, which will be carrying CaliBaera CBD products. In addition, East Village Farm and Grocery will also stock CaliBear CBD products on its physical location at 69 2nd Avenue, NY 1003.

This agreement will allow the company to foray into the Manhattan market with 1.6 million consumers expected to access the company’s products through Grubhub/Seamless delivery apps. The New York food delivery sector currently accounts for $2.1 billion or 10% of the US food delivery industry. The innovative deal is part of American Premium’s effort to enhance distribution via traditional channels and add more distributors in the Southeast US and with innovative contracts through the NFT4Play agreement. So, HIPH is worth watching in the coming weeks.

Key Quote

Ryan Fishoff, CEO of American Premium Water, commented, “I am excited to announce that CaliBear CBD products are now available throughout Manhattan on the Seamless app! The Company continues to focus on increasing distribution; our products are now available to Manhattanites throughout the borough. Adding additional stores that carry our products is always favorable to the Company; this agreement provides additional distribution through the Seamless/GrubHub delivery apps. These apps are extremely popular in urban areas, and this model is one the Company is looking to explore in other areas of the city (New York) and other locations across the country. Since the start of the pandemic, many more consumers are utilizing these apps to do more of their regular shopping, including buying health and wellness supplements. We want to ensure that the Company’s products are in front of the consumer whether at home or on their phone.” 

Traders Corner

HIPH stock is trading in neutral zone with the RSI at 40. The stock has key supports at 0.0016, 0.0018, 0.0020 and resistances are 0.0024, 0.0026, 0.0028. The stock is down 27% in the past month.