CBDL trades heavy this morning. Is it the start of something big?
Market Action
CBDL shares are very active as of 12:15 already trading over 1 billion shares. This is more than double its 30 day average volume. 1650 trades have taken place, and the stock is currently priced at .0013 up 12% on the day. Potential pivot points to keep an eye on are .00153 .00186 and .0023 above and .0010 and .00086 below. CBDL has been trading in an average daily range of .0003 for the last 30 days.
News
Investors looking into some of the notable gainers this morning might have come across the CBD Life Sciences (OTCMKTS:CBDL), which was up by as much as 25% at one point on news its sub LBC Bioscience launched its Amazon Store. The company had been looking to introduce the range of its hemp products on the online retail giant’s platform.
We should point out that the only product that is listed on the online store at this point is the Green Tea Facial Cleanser. The product is being sold under the company’s skincare brand Hemp Essence. It remains to be seen how the online store performs once more products are added.
President & CEO Lisa Nelson states, “We have been working very hard to get this all established, and we are going to get as many products as we possibly can on Amazon in the upcoming weeks now that everything is good to go!” Lisa Nelson also states, “We also launched our all-new & improved website as of last week, and we couldn’t be any happier with how it turned out!”
CBDL spiked early, but has given up all of its gains. The stock has been sliding off its .0198 high back in Febuary. This .001 area seems to provide support for the stock going all the way back to 2020 and would be a logical place for a rally to begin if the stock could ever hold on to its gains for more than one session.
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