Shares of CBD of Denver Inc (OTCMKTS: CBDD) have made up some ground ever since the company announced a brand new name for its product line. The renaming comes months after the company announced a second product release as it continues to refine its product line in pursuit of growth opportunities.
CBDD Price Analysis
Early this year the company also unveiled an industry first liqueur flavored CBD extract as it seeks to redefine the image of hemp products.
It is only now that price action has started picking up some pace after a long period of consolidation as investors react to a string of positive developments.
While the stock has started showing signs of bottoming out, it continues languishing below the Psychological $0.01 trading level. The stock has been trading below this level since 2014, after succumbing to short selling pressure.
However, an uptick in market sentiments, about cannabis investments, as well as expansion of the marketplace, following recreational and adult use legalization, could reinvigorate the stock’s sentiments going forward.
As it stands, CBD of Denver needs to serve groundbreaking catalysts, if the stock is to elicit strong investor interest in the market.
About CBD of Denver
CBD of Denver is a company focused on making it easy for people to understand developments in the unorganized and confusing CBD industry. The company boasts of a comprehensive CBD social network designed to connect users in America and the rest of the world, to discuss anything cannabis related. In addition, the company engages in the development of cannabis products.
Why is CBD of Denver Bottoming Out?
CBD of Denver has started showing signs of bottoming out after a long period of consolidation on serving a number of updates that appear to have triggered renewed investor interest. Top on the list is the confirmation of a new brand name for the company’s product line.
Going forward, the company’s products will go by the name Black Perl CBD. The company is also in the process of rolling out a new web page to reflect its new corporate image. In addition to product launches, the company is also in the process of popularizing its CBD social network.
“CBD Social Network www.cbdsocialnetwork.com is continuing to populate with new members, and we are very pleased with the response. The site is receiving 2,000+ views per day. We invite you to join and keep connected with other CBD users,” a statement from the company reads.
Strengthening Product Line
The unveiling of the CBD social network follows the release of the company’s second product offering early in the year. CBD of Denver has embarked on a commercialization drive of its unique 100% Organic full spectrum CBD Dark Spot Reducer. The all-natural product is produced with 0% THC and does not contain any added chemicals.
CBD of Denver is also offering a liqueur flavored 0% dubbed as THC Full Spectrum Plant CBD Tinctures. The new tinctures are flavored to test like any other Liqueur and come packaged in a 30ml (1oz) bottle.
“Launching this new CBD product in the rapidly growing CBD market reflects the commitment of CBD of Denver, Inc. to develop and commercialize product innovations and provide our company with a competitive advantage. We identified’ a market need and the product development team at CBD of Denver, Inc. was able to capitalize on this opportunity,” CBD OF Denver in a statement.
Separately CBD of Denver has turned down an opportunity to carry out a reverse stock split to boost its stock valuation. According to the Chief Executive Officer, there are no plans to carry out a reverse split in the near future in view of the recent name change.
The focus going forward according to the CEO is exploring new avenues that have the potential to strengthen the company’s revenue base.
CBD of Denver is in the early days as a cannabis play. However, the company has affirmed plans to take full advantage of opportunities emanating from the burgeoning sector. The fact that the company is new into the business explains why the stock is still languishing at all-time lows and below the $0.01 mark.
The launch of new cannabis products, as well as a new social networking platform targeting cannabis enthusiasts, should ensure a smooth transition into the multi-billion-dollar industry.
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Disclosure: We have no position in CBDD and have not been compensated for this article.