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Youngevity Surges On Announcement Of CBD Beverage Products

October 4, 2018 11:56 am
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Lifestyle company Youngevity International (NASDAQ:YGYI) offers products in retail categories such as health and nutrition, spa and beauty and food and beverage.

What Happened

Youngevity announced plans Thursday to expand its cannabidiol line HEMPFX with the launch of two products: HempFX Hydration – Sleep and HempFX Hydration – Pure. Both products are intended to be used with the company’s portable water bottle system, Y-DR8+, according to Youngevity. 

The water bottle system is designed to reduce the chemicals found in tap water while providing better-tasting water, the company said.

“It is a beverage technology that we expect will have broad consumer appeal, and we are extremely excited to combine this technology with the benefits of hemp-based CBD.”

The filter in the Y-DR8 houses cannabidiol tablets, which will be consumed as the water flows through.

Why It’s Important

Both products in this particular line have substantial health benefits, according to the press release.

The "sleep" version combines melatonin with cannabidiol oil, designed to aid with sleep patterns and provide a full night’s sleep, while the pure version contains 25 mg of cannabidiol oil to provide organic, full-spectrum CBD for users.

“This significant resource dates back over 10,000 years. Hemp is an industrial product used in a variety of fields, from skincare to construction. It contains no THC, which means it has no psychoactive effects and doesn't produce the 'high' commonly associated with marijuana plants,” Youngevity CEO Steve Wallach said in a statement. 

What’s Next

Both products are expected to reach the market in November. Youngevity shares were surging 16.12 percent to $7.85 at the time of publication Thursday.

Related Links:

Infographic: Assessing Hemp's Potential In The Cannabis Industry

3 Companies That Could Benefit From The Expanding Cannabis-Infused Beverage Market

Photo courtesy of Youngevity.