This morning shares of penny stock CBD Life Sciences are exploding on huge volume on the US OTC MKT. The stock trades under the symbol CBDL and so far this morning is up 233% on 82 million shares of volume to be one of the most highly traded stocks today in the micro cap world. You can see the price action on this chart that is getting people’s attention.
The company is a small cap cannabis company that sells products through a website and a few kiosks at a mall. It put out a news release this week that said that it was now selling one of its cannabis bottle products as a hand sanitizer.
The company in a press release yesterday stated “that our brand-new proprietary product 100 mg CBD + CBG with Vitamin E Hand Sanitizer has arrived to our facility. Our new Hand Sanitizer Gel product is in a 4 oz bottle containing CBD (cannabidiol) and CBG (cannabigerol) ingredients which will be marketed as “CBG+CBD Hand Sanitizer Gel Infused with Vitamin E Oil ” is now available for purchase.”
Many penny stock trades are getting on board of this action. For instance take a look at this post on Twitter today.
#CBDL Could Double On Blockbuster News. Their New Covid-19 Fighting CBD Infused Hand Sanitizer Gel Is Now Available For Purchase.— #StockRockAndRoll (@StockRockNRoll) April 16, 2020
LINK —> https://t.co/hPM0AuIl0N#covid #covid19 #covid-19 #stocks #equities #coronavirus #biotech #biologicalwarefare #coronavirusstocks #biotechs
I would be very careful though buying this stock. A lot of cannabis companies have been on hard times and are now trying to claim to be a solution to the coronavirus with questionable claims. The FDA has now cracked down on CBD Online Store, Native Roots Hemp, and Indigo Naturals for doing this with cease and desist letters. Meanwhile CBD Life Sciences barely makes any money and its stock has a market cap of less than one million dollars even with today’s price action.
There is great opportunity in getting into the right small cap stocks. Right now it is mining stocks that are doing well as gold and silver prices have been doing up. Check out my top stock pick of this month by going here.