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Friday, January 22, 2021

A Positive Turn for CV Sciences Inc (OTCMKTS:CVSI)

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CV Sciences Inc (OTCMKTS:CVSI) has been pushing higher along with other stocks in the cannabis-related space in recent days as we near an expansion of the overall footprint of the industry in November. The Company just put out an in-depth shareholder communique that further reinforces the bull case around this name as well.

In all, we’ve witnessed over 20% added to share values of the listing over the past month of action. Market participants may want to pay attention to this stock. CVSI has a track record that includes a number of dramatic bounces. In addition, the company has registered increased average transaction volume recently, with the past month seeing above 450% over the long run average. It pays to take note of this fact with the stock trading on a float that is extremely small at just 9.17M shares. putting in play the potential for a mechanically driven price squeeze.

CV Sciences Inc (OTCMKTS:CVSI) frames itself as a life science company, focuses on developing and commercializing novel therapeutics utilizing synthetic Cannabidiol (CBD).

CVSI operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division in manufacturing, marketing and selling plant-based CBD products to a range of market sectors, including nutraceutical, beauty care, specialty foods, and vape.

Following the CanX Acquisition in December 2015, CV Sciences commenced its preclinical drug development program during the second quarter of 2016. The Company’s drug development efforts include pursuing synthetic-based Cannabidiol drug candidates in areas that have potential to provide significant improvements in therapeutic patient treatments with sizable addressable markets.

The company was formerly known as CannaVEST Corp. and changed its name to CV Sciences, Inc. in January 2016. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California.

CVSI is led by Michael J. Mona, JR. founder of CV Sciences, Mr. Mona possesses over 30 years of senior management experience in a range of industries including real estate/construction, industrial farming, chemical processing and consumer products. Mr. Mona is a recognized industry leader in hemp farming operations and chemical extraction and has established a global supply chain of hemp-derived products.

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The Company detailed some factors driving their recent action, including their recent acquisition of CanX Inc. and their focus on the development and commercialization of innovative medicines.

Another major focus is CVSI’s big push to capture market share in the treatment of smokeless tobacco addiction. The Company discussed its multi-billion market opportunity presented by a new drug candidate that comes in the form of a proprietary chewing gum that combines synthetic CBD and nicotine to effectively treat smokeless tobacco addiction. CVSI execs put this as a $5.3 bln opportunity.

Shareholders were also pleased to see that the Company’s aggressive bearing is not waning as we approach the Cannabis industry footprint expansion: the Company’s CBD Consumer Division has grown from 120 retail locations to now over 700 locations.

On purely a technical basis, the stock has been grinding lower over the Summer, but recent action has been more promising with a move to close above the 50-day simple moving average for the first time since May. We would prefer to see the stock maintain that bearing, particularly given the favorable context for the Company’s market space at present.

At this time, carrying a capital value in the market of $16.7M, CVSI has a decent store ($1.41M) of cash on the books, with total assets just shy of $27M, which compares with an appreciable load ($2.33M) of total accumulated debt. Revenues are considerable and growing, at over $12 mln on a trailing twelve month basis. The 3% top line growth factor should be rapidly accelerating on a second derivative basis given the footprint expansion just around the corner for companies in the cannabis space as further legislative steps unfold. In that context, the Company’s current fiscal position is perfectly reasonable. And we look forward to tracking CVSI’s progress in the months to come.  For continuing coverage on $CVSI and our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!

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