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Why ChromaDex Corporation (CDXC) stock is Rising today?

Shares of the ChromaDex Corporation (CDXC) stock were on the rise today on June 7, 2021, following the announcement of the launch of the consumer product Tru Niagen in Walmart by ChromaDex. CDXC stock price saw a push of 12.30% to reach $10.04 a share at the time of this writing. CDXC stock went high at the previous closing by a 2.64% rise. Let’s understand more about this stock.

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Launch of Tru Niagen:

Tru Niagen®, a leading NAD+ booster, will be available in 3800 stores of Walmart in the United States of America. The product will be offered to consumers in two sizes i.e 100 mg and 300mg. Moreover, this leading NAD+ booster will also be offered online to Walmart customers with same-day delivery as well as in-store pickup options at the desire location.


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First Quarter 2021 Financial Results:

According to the first quarter 2021 financial results,

Development in First Quarter 2021

Conclusion

CDXC stock has captivated the attention of investors by announcing the launch of Tru Niagen® in Walmart stores. It seems that momentum was already built in the previous trading session and the recent announcement has added more hype to the rising CDXC stock price. ChromaDex management is expecting improvement in the gross margin for the future and planning to increase investment and resources for effective marketing of its products. Hence, investors need to keep an eye on this stock.

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