CbdMD (AMEX: YCBD) stock rallied 30% with the opening of Monday trading, with investors reacting well to an announcement last week that the company will be entering a multi-year exclusive partnership with Amify, an amazon platform partner. The CBD specialist will be listing its range of cannabidiol products on the Amazon platform as soon as the category becomes available.
CBD products are overcoming niche-like status, planting firm roots in the healthcare space, and proving themselves as more than viable investment opportunities. A partnership with Amify will facilitate the growth of digital sales whilst maximizing potential market exposure, so it isn't surprising investors are a little excited.
As the products continue to be regulated, and their popularity increases, it’s major platforms like Amazon that won’t waste time in gripping the opportunity. CbdMD’s Co-CEO Martin Sumichrast stated: “When a global retailer like Amazon is ready to accept your products, you get your strategy prepared and perfected so you’re ready to go to market as soon as possible”
Sat firmly in a ballooning sector, the deal with Amify will open cbdMD to an entirely new market – and one that is only growing. As more and more are taking to digital spaces for their consumer needs, it’s deals like these that could make all the difference in sustaining long-term growth. YCBD stock is currently trading with a daily gain of 31.5%, at a price of $1.94.
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