Up Or Down? Neptune Wellness Solutions Inc (NASDAQ:NEPT)

Neptune Wellness Solutions Inc (NASDAQ:NEPT) is trading a bit lower on Thursday after gaining 11% in the past month.

Market Action

As of 10:47, NEPT stock slid 2 % to $1.40 with more than 757K shares, compared to its average volume of 2.52 million shares. The stock has moved within a range of $1.3900 – 1.4401 after opening the trade at $1.43.

Major Trigger:

Neptune Announces Mood Ring Cannabis Product Launches, Including Flower, in British Columbia

Key Highlights:

• today announced it has launched three new Mood Ring branded cannabis products, including the first branded flower product, in the province of British Columbia.
• Neptune Wellness launched three new products under the Mood Ring brand bringing the total to six SKU’s currently being sold in British Columbia. The recently launched products included:
• Mood Ring High THC Capsules, Mood Ring High THC Oil, Mood Ring Florida Citrus Kush Flower
• The Mood Ring Florida Citrus Kush is Neptune’s first branded flower product introduced to the Canadian market.  Mood Ring Florida Citrus Kush is an indica dominant hybrid flower, featuring the rich taste of spicy citrus, with a subtle Kush aftertaste. With every purchase of our Mood Ring flower products, a portion of the proceeds are donated to the planting of a tree through our partnership with One Tree Planted.  The Company expects to launch new Mood Ring and PanHash branded products, including flower, across its licensed Canadian footprint throughout the coming year.

Key Quote:

“I am pleased to announce these exciting new products under the Mood Ring brand in British Columbia, including our first branded flower product” said Michael Cammarata, Chief Executive Officer and President of Neptune. “In less than a year, we have transformed our cannabis business from a slow-growth, low margin extraction business to a high growth, higher margin branded CPG business with two exciting new cannabis brands, Mood Ring and PanHash. Both brands are already well represented in more than 80% of the legal Canadian cannabis market.”