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CV Sciences Inc(OTCMKTS:CVSI) On a Fast Rise

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CV Sciences Inc(OTCMKTS:CVSI) is making a fast move up off its $5 base. CVSI is one exciting Company that continues to see fantastic sales growth and prior to the Andrew Left/dip was one of the top performing stocks of 2018.

CVSI is a market leader in the booming CBD space which continues to grow, research has cited tremendous growth including Hemp Business Journal, an industry market research publication which projects that the CBD market will reach $2.1 billion by 2020. CV Sciences’ vertically integrated process allows for Full Traceability – From Seed to Shelf™ and ensures product quality and safety for its complete line of finished products.

CV Sciences Inc(OTCMKTS:CVSI) the preeminent supplier and manufacturer of industry leading hemp extract brand, PlusCBD Oil™ operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing and selling plant-based CBD products (PlusCBD Oil(TM)) to a range of market sectors. The largest segment is the consumer products business segment, which is in charge of manufacturing and selling the company’s CBD brand PlusCBD™ CV Sciences, Inc. has primary offices and facilities in San Diego, California and Las Vegas, Nevada.

The big story on CVSI is PlusCBD Oil™, the #1 brand of hemp-derived CBD products in the natural channel according to SPINS scan data, has achieved immense success since the launch of its brand of dietary supplements in 2014. This brand is currently being sold in approximately 1300 health food stores and continues to grow its shelf presence in various retail outlets across the country.

PlusCBD Oil™ is seeing huge success and has resulted in massive sales for CVSI: on August 1, CVSI announced Second Quarter 2018 Financial Results. The Company announced record sales of $12,349,000 an increase of 203% compared to Q2 2017. CVSI also increased retail store count to 1,968 natural and organic health food stores as of June 30, 2018, representing an 11.1% sequential increase over the Company’s retail store count for the first quarter of 2018. PlusCBD™ product line is now positioned for mainstream acceptance and expanded distribution as the health and wellness markets continue to embrace CBD commercialization and standardization.

PlusCBD Oil™, was recently featured on an episode of ‘The Dr. Oz Show. The segment showcased Dr. Oz and Dr. Sanjay Gupta, Chief Medical Correspondent for CNN, where both doctors agreed that CBD, “has legitimate medical benefits,” and also stated that the varying milligram levels of CBD in products created different end-user experiences. Also this past weekend CVSI was a featured panelist at Invest Like the Pros: TheStreet’s Boot Camp for Investors.

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CVSI is looking to up-list; earlier this year the Company submitted its application to list the Company’s common stock in the U.S. on the Nasdaq Capital Market. Acceptance for listing the Company’s shares is subject to approval based on several factors including satisfaction of minimum listing requirements for the Nasdaq Capital Market.  The Company intends to satisfy all of the applicable listing requirements, however, there is no assurance that its application will be approved. During the Nasdaq review process, the Company’s common stock will continue to trade in the U.S. on the OTC under its current symbol, CVSI.

The last month has been a wild one for CVSI; On August 20, 2018 noted short-seller, Andrew Left released a tweet alleging that CV Sciences’ management misrepresented the status of one of its key patents. According to Citron Research, the Company failed to disclose a rejected patent that the Company “continue[d]to hype.” Since then a number of class action lawsuits have been filed by law firms accusing the Company of failing to disclose that the U.S. Patent and Trademark Office rejected the patent for CVSI-007, the Company’s lead drug candidate for the treatment of smokeless tobacco addiction. There has been some discussion on whether Citron neglected to clarify that the patent is currently under appeal, and not absolutely rejected as his tweet would have you believe. As a result of the Citron report, CV Sciences stock plunged over 63% in volatile trading.

The short attack fueled by a number of class action lawsuits as well as a negative seeking alpha article caused CVSI to drop from highs of $9.20 per share to $3.40 the 1st day with a subsequent drop below the $3 mark. Since then however CVSI has been coming back strong in recent days helped along by the fact that Citron has covered their short position.

On October 31 CVSI announced that it is scheduled to host a conference call to discuss its third quarter 2018 financial results on Wednesday, November 7, 2018, at 1:15pm PT/4:15pm ET. CV Sciences’ Chief Executive Officer, Joseph Dowling, will lead the call to provide an operational and financial summary of the third quarter ended September 30, 2018.

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Currently trading at a $477 million market valuation CVSI is one of the hottest stocks on the OTCBB and one of the most exciting making a spectacular move up in 2018. After a significant dip caused by the Citron research fiasco, CVSI is moving up again. There is a ton to get excited about here; CVSI has huge sales which have been growing rapidly reporting record sales of $12,349,000 for the Second Quarter 2018 an increase of 203% compared to Q2 2017. The Company has no debt, is making money and is looking to up-list to the NASDAQ, a move that would make them very attractive to Big Pharma and Big Consumer Brands. CVSI easily has one of the best products in the booming CBD space with PlusCBD Oil™, the #1 brand of hemp-derived CBD products on the market. We will be updating on CVSI when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CVSI.

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Disclosure: we hold no position in CVSI either long or short and we have not been compensated for this article.

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