CV Sciences, Inc. (OTCMKTS:CVSI): You Don’t Want To Miss This Bounce Back

CV Sciences, Inc. (OTCMKTS:CVSI) is currently trading at one of its lowest price points in about a year. The decline that has taken the stock to its current lows began unfolding in mid-September.

By late September, CVSI had lost so much ground that the stock was trading below $1.60. However, it again began moving up and in early October the stock had climbed back up enough to flirt with $2.60. From that level, CVSI retreated and by mid-October it was doing rounds at about $1.85. The stock began climbing back up again and toward late October it was trading well above $2. But in late October until now it has begun pulling back again, closing down in three of the last five trading sessions.

Looking at the charts, you cannot dispute that CVSI has demonstrated a pattern that investors can take advantage of to profit from the stock in short-terms. After rallying, CVSI tends to pull back, thereby allowing investors who may have missed its previous bull run to get on board before it begins another flight. Therefore, you shouldn’t be surprised if CVSI sharply reverses course and begins trending up from current levels.

About OTCMKTS:CVSI

CVSI is a hemp CBD company that makes products for both consumer and therapeutics markets. The company operates production facilities that follow good manufacturing practices. Its PlusCBD Oil product has been noted as the top-selling hemp CBD brand.

CVSI has cheered USDA’s establishment of the US domestic hemp production program. According to CVSI, the program will provide consistent regulatory framework that supports responsible hemp production in the US.

Beyond the historic price actions that paint a clear up and down pattern in the stock that investors can leverage to profit from CVSI, there are still more catalysts to power CVSI to greater highs from current level.

In October, CVSI made several announcements that should be positive for the stock in November.

CVSI equips its board with strategically valuable directors

CVSI last month added to new directors to its board. These are Dr. Paul Blake, who joined the CVSI board on October 21, and Beth Altman, who joined the CVSI board on October 24.

Blake is currently the chief medical officer at Heron Therapeutics, commercial-stage biotechnology company that focuses on pain treatment for cancer patients and others. Prior to joining Heron, Blake held executive roles at various other pharmaceutical companies, including BioDelivery Sciences International and Oxford BioMedica. To CVSI’s table, Blake brings deep expertise in drug development.

“His [Blake ‘s] decades of experience leading pharmaceutical companies will be invaluable to us as we continue to strengthen our industry leadership position in CBD consumer products and drug development,” commented Joseph Dowling, CEO of CVSI.

Altman, CVSI’s other new board addition, is also expected to be strategically valuable to the company. Altman has worked as global auditing and consultancy giant KMPG since 1993. Therefore, she brings more than 25 years of experience as a finance executive to CVSI.

“Beth is a tremendous asset to CV Sciences as we further expand our Company and fuel our future growth,” commented Joseph Dowling, CEO of CVSI.

CVSI extends its product distribution network to boost sales

CVSI inked two product distribution agreements in October. The first deal was with American supermarket chain Harris Teeter. The agreement with Harris Teeter paves the way for CVSI to sell its hemp cannabidiol (CBD) products at 150 Harris Teeter stores across several states in the United States.

CVSI has also expanded its CBD products distribution arrangement with The Vitamin Shoppe. The expanded agreement gives CVSI access to 132 more The Vitamin Shoppe stores. So in total CVSI will be able to sell its hemp CBD products at 515 The Vitamin Shoppe locations in the United States and Puerto Rico.

CVSI’s moves to expand its product distribution are notable as they come at a time when demand for hemp CBD products is increasing. A new report from market intelligence firm Brightfield Group shows the hemp CBD market in the US is expanding at an unprecedented rate. Brightfield predicts the hemp CBD market in the US will grow to $23.7 billion by 2023. This is the opportunity CVSI is pursuing and it hopes a broader product distribution network will allow it to take full advantage of the opportunity.

Bottom line

CVSI is considered by many to be the premier CBD stock trading on the OTC Market at this time. With all the deals the company is signing with major retailers, it’s only a matter of time before CVSI graduates to the NASDAQ. That is why you don’t want to miss out on the bounce back in the stock. And at the current price, CVSI looks to be a discount entry opportunity.

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Disclosure: We have no position in OTCMKTS:CVSI and have not been compensated for this article.