The cannabis company continues to see gains in the market
CV Sciences is a cannabis company with two primary focuses. The first is a division that centers on drug development and novel therapeutics using synthetic cannabidiol (CBD) and the second is a consumer product manufacturing division that markets and sells CBD products across a wide range of market sectors. Its business model seems to be working well, as the company’s stock price continues to perform above average.
The company is traded on the OTCQB exchange, the middle tier of three over-the-counter marketplaces operated by the OTC Markets Group. Its ticker symbol is CVSI and this week has been especially kind to the company’s stock price. When the markets closed on Tuesday, the price was up 4.29% to $5.35 after trading as low as $5.16 the same day. According to the most recently available data, it has increased another 3.55% and is currently trading at $5.54.
Part of the reason for the growth comes from the introduction of a new CBD gummy product from last September. CV Sciences introduced the product during the Natural Product Expo East 2018, indicating that it would be manufactured using the company’s PlusCBD Oil. More recently, CV Sciences received certification by the US Hemp Authority through the organization’s Certification Program.
That program was created last year and is designed to ensure that hemp farmers and finished product producers adhere to the Food & Drug Administration’s (FDA) Good Manufacturing Practices, as well as its Good Agricultural Practices. Receiving certification recognizes that the entity complies with the FDA guidelines.
As the company builds its portfolio, it will continue to gain ground and capture a larger market segment. While any stock market investment needs to be approached with caution, CVSI could make a nice addition to any portfolio.