Shares of lifestyle company Youngevity International Inc (NASDAQ:YGYI) are abuzz Thursday after the diversified California company which sells everything from coffee to health foods announced it was releasing two new hemp-derived cannabidiol products.
The Javalution Royal Roast brand coffee maker said it would launch HempFX Hydration Sleep and HempFX Hydration Pure by November.
HempFX Hydration Sleep combines melatonin with organic, hemp-derived cannabidiol oil in a proprietary beverage enhancement tablet. CBD, or cannabidiol, a nonpsychoactive compound found in the cannabis or hemp plant apparently helps with sleep and anxiety.
The stock shot up 14.7% to touch $7.75 in midday trade, putting it within fighting distance of its 52-week high of $9.70.
READ: Youngevity shares jolted higher after coffee supply deal, but its cannabinoid products keep shares abuzz
Also available in tablet form, HempFX Hydration Pure is added to water and quickly dissolves as it is consumed. It contains 25 mg of organic, full spectrum, hemp-derived cannabidiol oil per tablet. Hemp Hydration Pure is formulated to provide daily CBD for people of all ages who want organic, full spectrum CBD.
Earlier this year, the California company came out three blends of organic hemp-derived cannabinoid products, including Soothe, Relax and Uplift which it shared with at a recent trade convention
"Plant-based nutrition is fundamental to our product development philosophy," said Youngevity CEO Steve Wallach. "That's why we're especially excited to enter this rapidly growing market with two new products. This significant resource that dates back over ten thousand years, hemp is an industrial product used in a variety of fields, from skincare to construction. It contains no THC, which means it has no psychoactive effects and doesn't produce the 'high' commonly associated with marijuana plants."
Soothe features CBD oil mixed with several herbs and an antioxidant called glutathione, intended to support immune system health and relieve muscle and joint pain.
Relax is a sleep aid that blends the CBD oil with botanicals like chamomile, lavender, valerian, and melatonin.
Uplift is meant to be a mood booster, combining the CBD oil with St. John’s Wort and other terpenes, or cannabinoid enhancers.
Contact Uttara Choudhury at [email protected]