cbdMD: The Wanted Pullback
The U.S. cannabidiol space was a tough place to invest in the last year or so. (YCBD) was a $6 stock back in mid-2019 and investors can now buy the stock sub-$3 despite the general bullish long-term view of the CBD space. My investment thesis is more bullish on the stock as the mass retailers look to move forward with stocking CBD-infused food products with or without FDA approval.
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Update - August 15
cbdMD continues to struggle like most CBD related businesses. The company missed FQ3'21 revenue targets and cut FQ1'22 targets, but the stock did show initial signs of bottoming.
The company is still predicting strong growth, but product launch issues and FDA regulation delays just aren't helping.