cbdMD Inc. (YCBD) shares declined 4.13% in after-hours on Thursday, June 24, 2021, and closed at $3.02 per share. Earlier, YCBD’s stock gained 6.42% to close Thursday’s normal trading session at $3.15 per share. YCBD shares have risen 81.03% over the last 12 months, and they have moved down 0.63% in the past week. Over the past three months, the stock has lost 19.64%, while over the past six months, it has plunged 9.38%.
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Let’s try to find out why YCBD lost its positive momentum in the after-market on Thursday?
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Sponsored
cbdMD Therapeutics Collaboration with Colorado State University’s for Animal Health Study
on June 3, 2021, cbdMD Therapeutics, which is a new subsidiary of cbdMD Incbegun a partnership with researchers at the Colorado State University (CSU) veterinary program, to explore the effects of the Company’s patent-pending, proprietary cbdMD branded cannabinoid blend on dogs that suffer from osteoarthritis.
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The Company expects the full study to be complete by Spring 2022, which will provide validating data on the efficacy of the Company’s products in reducing pain and improving joint mobility in dogs.
cbdMD’s Paw CBD brand is one of the leading CBD animal health brands in the U.S.
Recent financial results announcement
on May 12, 2021, cbdMD, Inc released its financial results and its business highlights for its second quarter and six months ended March 31, 2021.
Q2 2021 financial highlights
- cbdMD net sales were $11.8 million for the second quarter of fiscal 2021 compared to $9.4 million in the second quarter of fiscal 2020.
- The gross profit margin was 69% for Q2 2021, compared to 71% for Q2 2020.
- In Q2 2021, operating expenses were $12.3 million same as in Q2 2020.
- For Q2, 2021 operating loss was $4.1 million compared to $5.6 million for Q2 2020.
- For the reported quarter, net loss attributable to common shareholders was approximately $13.1 million, or $0.24 per share, as compared to net income of approximately $14.8 million, or $0.41 per share in Q2 2020.
- The company had capital of approximately $27.9 million and cash on hand of approximately $23.7 million on March 31, 2021, compared to working capital of approximately $16.0 million and cash on hand of approximately $14.8 million on September 30, 2020.
U.S. Hemp Authority™ Certification
On May 10, 2021, cbdMD, received the prestigious U.S. Hemp Authority™ Certification (USHA).
The USHA Certification validates that cbdMD follows the highest standards and provides consumers with the highest quality hemp-extracted cannabinoid products.
The USHA Certification includes a third-party audit which covers topics such as maintaining a quality management system, meeting applicable ISO and cGMP standards, implementing standard operating procedures, and ensures compliance with relevant Federal regulations.
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Conclusion
Well, we have no recent news or update which we could link with its loss in the after-hours on Thursday. at the moment, it is hard to predict how YCBD stock will perform on Friday.
- Tags: AMEX:YCBD, cbdMD, YCBD, YCBD STOCK, YCBD STOCK PRICE
