It was not a great day in the markets for CBD Life Sciences Inc. (OTC:CBDL) shareholders on Tuesday as the company’s stock suffered from a selloff and declined by 6%. The decline was triggered following an announcement from the company, and it could be a good time to take a look into it.
Market Expansion
CBD Life Sciences, a company looking to make a mark in the CBD-based pet car market, announced yesterday that it was making a move into the equine niche. In the news release, the company noted that the particular market was expected to grow at a remarkable rate of 40.3% CAGR up until 2028. As a consequence, the company decided to make a move into a market that was underserved in an industry worth $125 million.
Strategy
The company would focus on equine health products, which attract considerable demand. CBD Life Sciences stated that it would differentiate itself from its peers by providing the highest value to its stakeholders and investors.
The products specific to the equine space from CBD Life Sciences provide a potent combination of therapeutic advantages and wellness, which would meet the particular demands of pet owners who often look for alternative options. Moreover, the equine market currently remained largely untapped, unlike the one for household pets. It remains to be seen if the CBD Life Sciences stock can recover today or not.
Key Quote
“As a publicly traded company, CBD Life Sciences Inc. has the distinct advantage of bringing transparency and robust standards to a burgeoning industry,” stated Lisa Nelson, CEO of CBDL. “Our innovative equine line is positioned to capture meaningful market share in an area of rapid growth, giving shareholders and investors a unique investment in a high-demand, low-competition sector.”
