With a significant pullback in the U.S. stock market, marijuana stocks are taking a hit as well. Still, even after a market-wide sell-off, Youngevity International Inc (NASDAQ:YGYI) stock is still up quite a bit this week. In this article, we are going to take a look at the latest YGYI stock news and see where the company might be going next.
Strictly speaking, Youngevity International Inc is not a marijuana stock. Instead, it is a omni-direct lifestyle company that combined both the direct selling business model (including e-commerce) and the power of social selling. Headquartered in Chula Vista, California, Youngevity was founded in 1996, so it has been around much longer than most marijuana stocks.
To see why Youngvity stock had such a wild ride recently, here’s a keyword: cannabidiol.
Cannabidiol (CBD) is one of more than 120 cannabinoids identified in hemp plants. Many people use CBD to treat pain. While the substance can be found in cannabis, CBD by itself does not produce a “high” or psychoactive effect.
In August, Youngevity announced that it is entering the CBD market. At its 2018 Convention in San Diego, California, the company introduced the new “Hemp FX” product line, which included three new proprietary blends of hemp-derived cannabinoid products: “Sooth,” “Relax,” and “Uplift.” (Source: “Youngevity Enters the $7.7B Cannabis Market with Hemp FX Product Line,” Youngevity International Inc, August 30, 2018.)
The big news was that last week, Youngevity added two CBD-infused beverage products to the lineup, “HempFX Hydration-Sleep” and “HempFX Hydration-Pure.”(Source: “Two New Hemp-derived Cannabidiol Products Which Leverages YGYI’s Y-DR8+ Beverage Technology,” Youngevity International Inc, October 4, 2018.)
YGYI Stock Chart
Chart courtesy of StockCharts.com
Getting into CBD-infused drinks was a great move in the eyes of investors. On October