What's Going On With Neptune Wellness Solutions?
Neptune Wellness Solutions (NEPT) stock rose on Thursday after the wellness company announced it's launching three new Mood Ring branded cannabis products, including the first branded flower product, in the province of British Columbia. Shares of the company were trading higher .035% to $1.43 a share on Thursday.
"I am pleased to announce these exciting new products under the Mood Ring brand in British Columbia, including our first branded flower product" said Michael Cammarata, Chief Executive Officer and President of Neptune. Adding, "in less than a year, we have transformed our cannabis business from a slow-growth, low margin extraction business to a high growth, higher margin branded CPG business with two exciting new cannabis brands, Mood Ring and PanHash. Both brands are already well represented in more than 80% of the legal Canadian cannabis market."
What Does This Mean For Neptune Wellness Solutions?
The Mood Ring Florida Citrus Kush is Neptune's first branded flower product introduced to the Canadian market. Mood Ring Florida Citrus Kush consists of an Indica dominant hybrid flower, featuring the rich taste of spicy citrus, with a subtle Kush aftertaste. With every purchase of our Mood Ring flower products, Neptune intends to donate a portion of the proceeds to the planting of a tree through its partnership with One Tree Planted.
Neptune Wellness Solutions Inc. operates as an integrated health and wellness company. It builds a portfolio of lifestyle brands and consumer packaged goods products under the Forest Remedies and, Ocean Remedies, Neptune Wellness, Mood Ring, and OCEANO3 brands.
NEPT has an Overall Score of 41. Find out what this means to you and get the rest of the rankings on NEPT!
Neptune Wellness Solutions Inc is a diversified and fully integrated health and wellness company. It is focused on building a broad portfolio of affordable consumer products in response to long-term secular trends and market demand for natural, plant-based, sustainable and purpose-driven lifestyle brands. The company is a provider of turnkey product development and supply chain solutions to business customers across several health and wellness verticals, including legal cannabis and hemp, nutraceuticals and white label consumer packaged goods. It has a position in cannabis and hemp with research, development and commercialization focused on the use of cannabinoids in household products to make them safer, healthier and more effective.
