CBX is the latest cannabis (CBD) penny stock to hit the UK market, after a few crazy months for other related stocks, where do we think this will go?
First, we need to look at what they actually do. They focus on cannabinoids, which is a group of compounds naturally produced by the cannabis plant., which is essentially CBD, The product arrives around September 2021, you can register now via their website.
The company brands its products around health and wellness with claimed benefits including, pain relief and help sleeping. The company is in engaging new techniques such as Biosynthesis, take a look at their website for more information.
Essentially these are lab-grown CBD products, which boast a load of benefits, from time growing, impact on the planet, and less space to grow crops. This seems to be the future with more and more industries looking for solutions this way.
Seeing as the product has not been released yet the price will mainly be over-speculation, this will be helped by David Beckham, who owns a 5% share in the company.
The stock opened at 14.04(gbx) rising slowly before dipping to 12.54(gbx), Similar stocks have had a good year with a lot of speculation as legalization across the world speeds up. Only time will tell on this one..
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Penny stocks can be extremely volatile so be especially careful when investing. Risk rating is 5/5.
Capital at risk.