cbdMD, Inc. (NYSEAMERICAN:YCBD) Sees Large Decline in Short Interest

cbdMD, Inc. (NYSEAMERICAN:YCBD) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totaling 1,234,477 shares, a decrease of 68.9% from the December 15th total of 3,970,725 shares. Currently, 12.5% of the shares of the company are short sold. Based on an average daily trading volume, of 24,116,987 shares, the short-interest ratio is presently 0.1 days. Based on an average daily trading volume, of 24,116,987 shares, the short-interest ratio is presently 0.1 days. Currently, 12.5% of the shares of the company are short sold.

Insiders Place Their Bets

In related news, major shareholder Clark R. Crosnoe sold 550,701 shares of cbdMD stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $2.32, for a total transaction of $1,277,626.32. Following the completion of the sale, the insider owned 17,875 shares of the company’s stock, valued at approximately $41,470. The trade was a 96.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On cbdMD

A hedge fund recently raised its stake in cbdMD stock. Alesco Advisors LLC increased its stake in cbdMD, Inc. (NYSEAMERICAN:YCBD) by 64.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,513 shares of the company’s stock after acquiring an additional 26,748 shares during the quarter. Alesco Advisors LLC owned about 0.77% of cbdMD worth $61,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.18% of the company’s stock.

cbdMD Price Performance

YCBD stock traded up $0.03 during trading on Wednesday, reaching $1.07. 718,568 shares of the company were exchanged, compared to its average volume of 12,914,752. cbdMD has a twelve month low of $0.47 and a twelve month high of $6.54. The company has a 50-day moving average of $0.98 and a two-hundred day moving average of $0.93.

About cbdMD

cbdMD, Inc (NYSEAMERICAN: YCBD) is a Charlotte, North Carolina–based producer and distributor of hemp-derived cannabidiol (CBD) products. Since its founding in 2018, the company has focused on developing a diverse portfolio of wellness offerings designed for human and pet use. Its product range includes tinctures, capsules, gummies, topicals, and pet-specific formulations, each developed to comply with U.S. Food and Drug Administration (FDA) guidelines for hemp-derived substances.

The company operates a vertically integrated business model, sourcing U.S.-grown hemp and overseeing manufacturing processes in cGMP-certified facilities.