CV Sciences Inc (OTCMKTS:CVSI) is possibly beginning to show some renewed signs of life following a period of heavy doubt that was initially sparked by a research note from Citron and Andrew Left. The notorious short-seller hammered the company with allegations, and the circling sharks of the class-action legal community did the rest. But shares of the stock never really wilted, and now the specter of a possible short squeeze cannot be dismissed.
To further flesh out the narrative of Wednesday’s action, the company just announced that the Company is now sponsoring Rodale Institute’s research on organic hemp farming alongside industry leaders Patagonia and Dr. Bronner’s. According to the release, the Rodale Institute is the nation’s leading organic farming institution, dedicated to pioneering organic farming through research and outreach.
CV Sciences Inc (OTCMKTS:CVSI) bills itself as a company that operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products to a range of market sectors.
In addition, the company has a strong balance sheet, with cash levels far exceeding current liabilities ($7.2M against $3M).
CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada.
Moreover, CV Sciences, Inc. operates as a life science company. It operates through two segments, Specialty Pharmaceuticals and Consumer Products. The company focuses on developing and commercializing prescription drugs utilizing synthetic cannabidiol (CBD) as the active pharmaceutical ingredient. Its initial drug candidate is CVSI-007 that combines CBD and nicotine for the treatment of smokeless tobacco use and addiction.
The company also engages in the development, manufacture, marketing, and sale of consumer products containing plant-based CBD under the PlusCBD Oil name in various market sectors, including nutraceutical, beauty care, specialty foods, and vape.
The Squeeze is On?
We started off by noting that CVSI just hit the wires with the announcement that the Company is now sponsoring Rodale Institute’s research on organic hemp farming alongside industry leaders Patagonia and Dr. Bronner’s.
Joseph Dowling, Chief Executive Officer at CV Sciences, states, “We are thrilled to expand our robust support of hemp farming research throughout the United States to increase organic production of hemp with such a forward-thinking organization like the Rodale Institute. We believe that hemp can play a large role in the future of agriculture and look forward to working with Rodale to further organic hemp production.”
The stock is up on the news. Overall, shares of CVSI have rallied about 16% over the past week. That sets up an interesting context for the action tomorrow, and lot will come down to how the stock handles its next confrontation with the $6/share level.
“We appreciate the support of CV Sciences as we explore hemp’s role in soil health,” said Jeff Moyer, Executive Director of the Rodale Institute. “We know that healthy soil equals healthy food equals healthy people and a healthy planet. Having a partner like CV Sciences allows us to have a much larger impact.”
CV Sciences Inc (OTCMKTS:CVSI) generated sales of $12.3M, according to information released in the company’s most recent quarterly financial report. That adds up to a sequential quarter-over-quarter growth rate of 53% on the top line.
Post Views: 33,909 Can you spot the difference between the hemp plant and marijuana plant? Hint: It’s not in the...
Stem Holdings Inc (OTCMKTS:STMH) Reports A Growth Of 960% In Q3 2020: Unveils TJGardens Branded Tinctures
Post Views: 774 Stem Holdings Inc (OTCMKTS:STMH) posted an increase of 960% YoY to $6.7 million in Q3 2020. It...
Indiva Ltd (OTCMKTS:NDVAF) Signs Three Provincial Agreements: Expands Distribution Network To Eight Provinces: Reports A Robust Growth Of 1273.7% In Q2 2020 Revenues
Post Views: 694 Indiva Ltd (OTCMKTS:NDVAF) posted a robust growth of 1273.7% YoY to CAD 2.826 million in revenues in...
4Front Ventures Corp (OTCMKTS:FFNTF) Receives Approval From CCC For Mission Dispensary and Cultivation Facilities In Worcester: Will Commence Adult-Use Cannabis Sales
Post Views: 743 CCC (Cannabis Control Commission) in Massachusetts approved cultivation and processing facilities and Mission Dispensary of 4Front Ventures...
Pure Sunfarms, A Joint Venture Of Village Farms International Inc (NASDAQ:VFF), Ships Bottled Oil Products TO British Columbia
Post Views: 821 Pure Sunfarms, which is a Village Farms International Inc (NASDAQ:VFF) JV, commenced shipment of Cannabis 2.0 products...
Health Canada Grants Cannabis 2.0 License To Abba Medix Corp, An Auxiliary Of Canada House Cannabis Group Inc (OTCMKTS:SARSF)
Post Views: 671 Abba Medix Corp., a wholly-owned subsidiary of Canada House Cannabis Group Inc (OTCMKTS:SARSF), received an amended cannabis...