A fresh story to catch our attention on the OTC hit yesterday in the form of a big pop in shares of Abacus Health Products Inc (OTCMKTS:ABAHF). This is another CBD name in an already somewhat-crowded space. But the best way for these companies to differentiate themselves – given that CBD is already a commodity – is through celebrity marketing deals.
In that vein, the company just announced that Rob Gronkowski, three-time professional football champion with several records to his name, has become an advocate for CBD and an investor in Abacus Health Products. According to the release, Abacus is the maker of CBDMEDIC, the first family of all-natural topical medications that combine over the counter (OTC) drug active ingredients with CBD-rich hemp oil and other natural moisturizers. As part of the agreement, Gronkowski will partner with Abacus to expand CBDMEDIC’s product line, with new recovery solutions planned for 2020.
Abacus Health Products Inc (OTCMKTS:ABAHF) promulgates itself as a company that manufactures and sells over-the-counter (OTC) topical formulations infused with cannabidiol (CBD) extracted from hemp.
The company offers CBD CLINIC line of products for relief from acute musculoskeletal and joint pain, which includes analgesic ointments, creams, and pain sticks, as well as analgesic massage oils.
It also provides CBDMEDIC line of products, such as sport ointments and pain sticks, back and neck ointments, arthritis hand creams and ointments, and massage therapy oils, as well as ointments and pain sprays for muscles and joints.
The company offers its CBD CLINIC products to registered health practitioners, including chiropractors, acupuncturists, massage and physical therapists, naturopaths, and osteopaths; and CBDMEDIC products directly to consumers through retail pharmacy chains and fitness locations, as well as online through the e-commerce platform. In addition, it is involved in developing a pipeline of other OTC CBD products addressing additional medical indications and the health and wellness sectors.
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As noted above, ABAHF just announced that Rob Gronkowski, three-time professional football champion with several records to his name, has become an advocate for CBD and an investor in Abacus Health Products.
Recent action has seen 27% piled on for shareholders of the listing during the trailing week. What’s more, the stock has witnessed a pop in interest, as transaction volume levels have recently pushed exceeding 920% over what the stock has registered over the longer term.
It pays to take note of this fact with the stock trading on a float that is tiny at just 9.8M shares.
“I’m excited to start a new chapter of my career as an advocate for recovery and an investor and partner with Abacus — a company that I truly believe in,” Gronkowski said. “During my football career, I pushed myself while recovering from nine surgeries and countless injuries. I was in near-constant pain and needed to make a change. After retiring, I looked for better and more natural ways to recover and discovered CBDMEDIC through my dad. These products have helped me safely manage pain better than anything else I’ve tried. There is an incredible opportunity to educate people on healthier ways to recover and I’m looking forward to introducing new products with Abacus in the hope of helping millions of Americans balance their active lifestyles with healthy recovery.”
Earning a current market cap value of $62M, ABAHF has about $13M in cash on the books, which is evenly balanced by about $13M in total current liabilities. The company has taken in about $3.8M in revs over the past year. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $ABAHF 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 $ABAHF, either long or short, and we have not been compensated for this article.