On Wednesday, PAO Group Inc (OTCMKTS:PAOG) announced its plans for the launch of a new line of CBD Nutraceutical brand later on this year and that came as a significant boost for its stock price. The announcement was a significant one from the company and hence, it was perhaps no surprise that the investors piled on to the PAO Group stock in a big way yesterday.
The stock ended the day with gains of as much as 11% and it is likely to stay in focus this morning as well. The more important thing to keep in mind in this regard is the fact that PAO Group has stated that it expected to generate revenues from this venture in 2021.
Yesterday, the company noted that there was considerable momentum in the CBD space and hence, that is something that will be a significant boost to the line of CBD Nutraceutical products that PAO Group seeks to launch.
The company is planning to come up with CBD nutraceutical and pharmaceutical products by deploying its own intellectual property that is linked with a patented cannabis extraction technique. Investors looking into CBD plays could consider keeping the PAO Group stock in their watch lists at this point.
