The CBD sector has been one of the niches in the cannabis industry to have attracted considerable attention from investors in recent times. One of the companies, engaged in that sector, which was in focus yesterday was CBD Life Sciences Inc (OTCMKTS:CBDL).
Trading Data
On Wednesday, CBDL stock ended flat at $0.0002 with more than 103.94 million shares, compared to its average volume of 183.11 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) Introduces Production of HHC Products
Yesterday, the company made an announcement through its fully owned subsidiary company LBC Bioscience Inc. The company announced that LBC Bioscience is going to begin production of the HHC products at some point in the next week. The possibility of the production of new products is almost always seen as a positive by investors and hence, it was perhaps no surprise that the stock was in focus yesterday.
At this point in time, there are plenty of companies which are competing hard in order to grab a share of the lucrative CBD market and hence, innovations are a must. Companies are now working on ways to come up with products that could be alternatives to the traditional CBD and THC variants.
HHC is a recent variant to have been developed and there is a degree of excitement with regards to those products among investors. At this point in time, investors could do well to keep an eye on how the whole thing progresses for CBD Life Sciences.
Technical Data
CBDL stock is trading above the 20-Day and 50-Day Moving averages of $0.0002 and $0.0002 respectively. However, the stock is trading below the 200-Day moving average of $0.0004.
