As another trading day begins in the midweek, investors might be looking into stocks which managed to record strong gains on Tuesday and one of the stocks to look into could be that of CBD Life Sciences Inc (OTCMKTS:CBDL).
The stock was in considerable focus yesterday and soared by as much as 33% after the company announced that it was going to raise the CBD based products production capabilities of its fully owned subsidiary company LBC Bioscience Inc. That was a major announcement from the company and one that naturally led to bullish sentiments among investors.
More importantly, CBD Life Sciences stated that it decided to go for such a measure in light of higher demand for its product on Amazon and on its own website than what had been anticipated. In addition to that, the products are going to be launched on Alibaba soon as well and hence, the move to raise capacity is understandable.
Lisa Nelson, who is the President and Chief Executive Officer of CBD Life Sciences, stated that the response from customers following the ramp up in the company’s e-commerce distribution efforts has been ‘huge’. It will be interesting to see if the stock can add to its gains today.
Market Reaction:
On Tuesday, CBDL stock gained 33% at $0.0004 with more than 900.79 million shares, compared to its average volume of 426.60 million shares. The stock has moved within a range of $0.0002 – 0.0004 after opening the trade at $0.0004.
