CVSI stock is gaining further momentum on Monday as the company CV Sciences (OTCQB:CVSI) has provided updates on a clinical study related to PlusCBD Oil.
CBD oil is regarded as the next frontier for the hemp industry, and CV Sciences is one of the leading operators when it comes to this product category. Its product PlusCBD Oil is the industry leader in hemp-based CBD oils.
Clinical Study On PlusCBD Oil
In a fresh development that could prove to be a major boost for the company, CV Sciences announced that after a clinical study had been conducted on PlusCBD Oil, it was found that it helps in reducing hunger, improves sleep, and raises the general quality of life in human beings. The study was conducted over a period of six weeks, and it proves beyond doubt the qualities of the product in question. The results of the study were announced during the International Society of Sports Nutrition’s 16th Annual Conference and Expo held on June 15 at Las Vegas.
The research was conducted by The Center for Applied Health Sciences (CAHS), and the lead investigator, Hector Lopez said, “Collectively, these seminal findings in healthy subjects demonstrate that PlusCBD™ Oil supplementation can improve measures of sleep, reduce appetite, and enhance the quality of life.”
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CVSI stock is up 2% and now trading at $4.28 on the OTC market.
Kroger's Deal
That is not all. Last week, CVSI stock was in the spotlight on the news that CV Sciences' CBD oil will be available in 945 Kroger (NYSE:KR) stores spanning 17 US states. As per the agreement, The Roll-Ons will be sold under many of Kroger’s retail banners including Kroger, Dillons, Fry’s, and Fred Meyer, among others. Earlier in May this year, CV Sciences announced a separate deal with CVS Health Corp (NYSE:CVS) to sell its CBD-infused balm in some of its stores.
However, despite positive developments, CVSI stock is still down over 30% from its March peak price of $6.40.
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