Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Full-service product development firm Edison Nation Inc. (NASDAQ: EDNT), announced Thursday that it will acquire HMNRTH Nutraceutical’s line of cannabidiol health and wellness products.
The terms of the deal were not disclosed.
HMNRTH is a full-spectrum hemp-derived company with a CBD product line that includes a variety of oral sprays and topical ointments — some designed for a specific time of the day — as well as joint and muscle creams, according to a press release.
HMNRTH products formulated for morning use contain natural caffeine that should boost consumer’s energy, and those designed for evening relaxation contain melatonin.
The products are regulated by third-party lab testing, consist of 100% hemp-derived CBD and are in compliance with FDA and GMP standards, the company said.
“The expansion into Nutraceuticals and consumables has been a strategic goal for us over the last year,” Edison Nation CEO Christopher Ferguson said in a statement.
“HMNRTH is the first acquisition in the consumables arena, and we look to leveraging our innovation platform to expand the brand and product lines to identify other synergistic opportunities in the consumables category.”
The U.S. CBD market is projected to reach $23.7 billion by 2023, according to a Brightfield Group research report, which should set Edison Nation up for expansion and sales growth, the company said.
The stock was down 1.91% at $2.05 at the time of publication Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!