Yesterday, CBD Life Sciences Inc (OTCMKTS:CBDL) was in the news after it made an announcement through its fully owned subsidiary firm LBC Bioscience Inc that it was going to publish a letter addressed to its shareholders.
Trading Data
On Tuesday, CBDL stock ended flat at $0.0002 with more than 83.55 million shares, compared to its average volume of 189.91 million shares. The stock has moved within a range of $0.0001 – 0.0003 after opening trade at $0.0002.
CBD Life Sciences, Inc. (CBDL) Releases Letter to Shareholders
While such an announcement is definitely important, it did not immediately lead to any significant move in the CBD Life Sciences stock and it remained within a range. In this situation, it could be a good idea for investors to take cursory look at what the company has been doing in recent times. In recent times, the company has been engaged in further improving its strategic focus.
More importantly, experts believe that 2002 could well be a big year for CBD Life Sciences as it tries to chart a new trajectory of growth. Over the past months, the company has been quite focussed on the acquisition of new retail outlets.
Yesterday, CBD Life Sciences noted that after scouring for new retail locations it has finally managed to finalise a few locations and that is a significant development for the long term retail business. Although the stock was trading within a range yesterday, it might be a good move to keep CBD Life Sciences in your sights.
Technical Data
CBDL stock is trading below the 20-Day and 50-Day Moving averages of $0.0002 and $0.0002 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0005.
