Creso (ASX:CPH) share price edges higher on product launch

The Creso Pharma Ltd (ASX: CPH) share price is edging higher following its new CBD-based product launch. Here’s what the company announced.
The post Creso (ASX:CPH) share price edges higher on product launch appeared first on The Motley Fool Australia. –

ASX Cannabis share price represented by asx investor holding card with cannabis leaf on it

The Creso Pharma Ltd (ASX: CPH) share price is edging higher in mid-afternoon trade following its new CBD product launch. At the time of writing, the cannabis company’s shares are trading at 21 cents, up 2.5%.

Product launch

Investors appear pleased with the company’s plans to strategically launch its new products, sending Creso shares higher.

According to its release, Creso advised it has launched three new CBD-based tea products in Switzerland, and potentially Germany.

Recognised under the established cannaQIX brand, the new products include cannaQIX tea, cannaQIX NITE tea, and cannaQIX Immunity tea. The three new products were developed based on the company’s second-generation innovation technology. These products are focused on improving content and also taste. In addition, Creso is seeking to expand its target customer base into the mainstream convenience food and beverage market.

Following the successful completion of its legal and regulatory requirements, the company’s tea products will be sold throughout Switzerland. Creso will utilise its extensive distribution network of over 2,100 points of sales to target the adult beverage market. This will consist of pharmacies, drugstores, health nutrition shops, and large retail groups including leading department store chain Manor. In addition, Creso will also supply major wholesalers such as Galexis, Amedis, and Voigt with CBD-based tea products.

Since the German Federal Court of Justice ruled to annul previous charges against hemp tea sellers, Creso will look to launch its new CBD-based teas within the country. It hopes to actively market and sell its products without further regulatory approvals or hurdles, opening up the German market.

Once both countries have successfully rollout the cannaQIX products, Creso noted it will look to expand into other European markets.

Management commentary

Creso commercial and development director Dr. Gian Trepp commented:

We are proud to have completed the finalisation of this ground breaking technology for our new CBD tea products, which opens a number of new and globally applicable opportunities for Creso Pharma. The new products and formulation provide a very tasty CBD tea that will become a key component in the future production of the cannaQIX lozenges.

About the Creso share price

Over the past 12 months, the Creso share price has rocketed to almost 250%, reflecting positive investor sentiment. The company’s shares reached a 52-week high of 47 cents in early December after the United States passed a bill to decriminalise cannabis on a national level.

On valuation grounds, Creso commands a market capitalisation of roughly $205 million, with 1 billion shares on issue.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Creso (ASX:CPH) share price edges higher on product launch appeared first on The Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!