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Monday, November 23, 2020

How CV Sciences Inc (OTCMKTS:CVSI) has Kept Traction Despite Pressure from Bears

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One curiosity that defines both the risk and opportunity of the OTC right now is embodied in the form of CV Sciences Inc (OTCMKTS:CVSI). Sheres of the stock were knocked down by the now infamous tweet from Andrew Left’s Citron Research back in August, dropping the stock nearly in half in a single day. However, we continue to see shares battle back as sales growth remains in place.

Helping to further drive the story, 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 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 the 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.

CV Sciences Inc 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.

According to company materials, “CV Sciences, Inc. (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. CV Sciences, Inc. has primary offices and facilities in Las Vegas, Nevada and San Diego, California.”

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As noted above, CVSI just announced that the Company is now sponsoring Rodale Institute’s research on organic hemp farming alongside industry leaders Patagonia and Dr. Bronner’s. In all, the chart shows 10% during the past month in terms of shareholder gains in the name.

In addition, the listing has benefitted from a jump in recent trading volume to the tune of 21% over the long run average. That suggests no shortage of continued interest from traders as sales growth appears to be undaunted in the face of legal pressure.

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.”

At this time, carrying a capital value in the market of $507.71M, CVSI has a significant war chest ($7.2M) of cash on the books, which compares with about $3M in total current liabilities. CVSI is pulling in trailing 12-month revenues of $33.3M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 202.5%. We will update the story again as soon as developments transpire. Sign-up for continuing coverage on shares of $CVSI stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CVSI, either long or short, and we have not been compensated for this article.

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