Youngevity International Inc (NASDAQ: YGYI) is rocketing early on this morning, and for good reason. The comapny announced that it will be launching two new drinks, both which will be infused with CBD. Of course, with the investor interest surrounding CBD at the moment, investors are excited, pushing the stock for the top. Today, we’ll talk about:
- The new CBD-infused drinks;
- what we’re seeing from YGYI stock as a result; and
- what we’ll be watching for ahead.
YGYI Announces CBD-Infused Drink Launch
As mentioned above, Youngevity International is having an incredibly strong start to the trading session in the pre-market hours after the company announced the launch of CBD products. In a press release, the company said that it would be launching HempFX™ Hydration™ – Sleep and HempFX™ Hydration™ – Pure, both of which are infused with CBD. It is expected that both of these products will be available in November of this year.
The company said that the drinks will be tablet based products designed to be used in the Y-DR8+, portable water bottle system. The Y-DR8 filter features an activated carbon cloth and is designed to fit the on the go lifestyle. The CBD drink tablets will be housed above the water line and consumed as the water flows over them.
In a statement, Rick Anson Vice President of Innovation and Emerging Markets at YGYI, had the following to offer:
This bottle system is intended to provide people with a revolutionary point-of-use water system for great-tasting water and enables consumers to customize tap water based upon their health and wellness needs. It is a beverage technology that we expect will have broad consumer appeal and we are extremely excited to combine this technology with the benefits of hemp-based CBD.
The above statement was followed up by Steve Wallach, CEO at YGYI. Here’s what he had to offer:
Plant-based nutrition is fundamental to our product development philosophy… That’s why we’re especially excited to enter this rapidly growing market with two new products. This significant resource that dates back over ten thousand years, hemp is an industrial product used in a variety of fields, from skincare to construction. It contains no THC, which means it has no psychoactive effects and doesn’t produce the ‘high’ commonly associated with marijuana plants.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Youngevity, the news proved to be overwhelmingly positive. With recent news from the DEA supporting CBD and investor interest running high for CBD drinks, it only makes sense that the news is exciting investors, who are sending the stock screaming for the top. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (9:16), YGYI is trading at $8.20 per share after a gain of $1.44 per share or 21.30% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on YGYI. In particular, we’re interested in following the story surrounding the coming CBD drinks and the revenue generated through the new products. Nonetheless, we’ll continue to follow the news closely and bring it to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!