The CBD Life Sciences (OTCMKTS:CBDL) stock was one of the notable fallers on Monday and declined by as much as 13% despite there being no fresh news of the company. In light of this situation, it might actually be a good idea for investors to take a look at a development from last week.
Last Wednesday, the company announced that it is going to expanding its line of products by launching the new Delta 10 Cartridges through its fully owned subsidiary company LBC Bioscience Inc. It was a major announcement considering the fact that it appears that the company is finally in a position to launch Delta 10 Cartridges with two different strains.
The two strains that are going to be introduced are called Blue Dream and Sour Diesel. Lisa Nelson, who is the Chief Executive Officer and President of the company, stated that Delta 10 is a product that has the capability of changing the CBD market altogether. It has also been claimed that it is going to emerge as the best selling product from CBD Life Sciences. In this regard, it should be noted that earlier on this month the company launched another product, the Pain Relief Roll On, on Amazon.
Market Reaction:
On Monday, CBDL stock fell 12.50% at $0.0004 with more than 463.39 million shares, compared to its average volume of 467.94 million shares. The stock has moved within a range of $0.0003 – 0.0005 after opening the trade at $0.0004. Over the past 52-week, the stock has been trading within a range of $0.0003 – 0.0198.
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