If you are currently on the lookout for CBD related stocks then it could be a good move to take a look into the NutraLife Biosciences Inc (OTCMKTS:NLBS) stock. This past Friday, the stock was in sharp focus among investors after it made an announcement with regards to a strategic partnership agreement with the company KOR Medical.
Trading Data
On Friday, NLBS stock moved up 8% to $0.0945 with more than 11.50K shares, compared to its average volume of 52k shares. The stock has moved within a range of $0.0945 – 0.0945 after opening trade at $0.0945.
NutraLife Biosciences Partners with KOR Medical to Create Cannabinoid-Based Wellness Products
The NutraLife Biosciences stock ended the day with gains of as much as 8% as a consequence. In this situation, it now remains to be seen if the stock can surge further this week and hence, investors need to take a closer look at the announcement.
In addition to the strategic partnership, the company also announced that it had completed an initial order with KOR Medical for its range of CBD based wellness items. The preliminary range of products that had been produced by the company were made up of a range of a total of four indigestible products that could bring about an overall improvement in health. It goes without saying that it was a significant development for NutraLife Biosciences and hence, the move in the stock was perhaps not a surprise. Investors are likely to keep an eye on the stock today.
Key Quote
dgar Ward, NutraLife Biosciences President/CEO, said the partnership will benefit both companies as well as consumers seeking effective health and wellness solutions.
“We are both honored and grateful to be working with an exceptional like-minded organization focused on providing innovation in the medical cannabis industry,” Ward said. “We’ve enjoyed working with KOR Medical to provide these unique personalized cannabinoid formulations that support and help improve quality of life.”
Technical Data
NLBS stock is trading below the 20-Day and 50-Day Moving averages of $0.0915 and $0.0943 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1090. The stock is up 24% in the past month.
