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CVSI Surges 100%

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(@dhtaylor)
Noble Member Admin
Joined: 3 years ago
Posts: 1361
Topic starter  

I have not looked at this stock in a minute: It is really not that impressive.  Yet, today it surged some 100%.  I asked around for news.  However, no one could come up with anything concrete. Yet, there were other stocks that had surged upward simultaneously, albeit not as high as this stock's move.  

There are far better stocks to get involved in with regard to upside potential.  Nonetheless, this shows to me that there is something percolating in the markets and we may see some surging.  


   
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(@jeffspahn2011gmail-com)
Estimable Member
Joined: 2 years ago
Posts: 106
 

I think it's because they extinguished their convertible debt

(PRNewsfoto/CV Sciences, Inc.)

"We have retired all of our outstanding convertible debt which strengthens our balance sheet and helps us with our long-term strategic initiatives," said Joseph Dowling, Chief Executive Officer. "The termination of all convertible debt and related obligations to issue stock to our lender will eliminate the dilutive impact of this debt on our stockholders. In addition, the termination of our convertible debt will eliminate the downward pressure on our stock caused by sale of the shares issued at each conversion event. Our focus is to support our business goals that build shareholder value, and in this regard we believe eliminating the negative impact of this financing is just as important as continuing to grow our PlusCBD™ branded products business."

Additional details regarding the transaction were included in CV Sciences Current Report on Form 8-K filed with the Securities and Exchange Commission ("SEC") on August 25, 2022, and are available by visiting http://www.cvsciences.com.

 


   
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