BOD Australia Limited [ASX: BDA] is up over 19% in early morning trade today.
BOD is a natural supplements company that develops and distributes health and skincare products.
The company announced its December quarterly activities report.
What’s the news behind this price surge?
BOD announced record revenue for the quarter. That figure was up 260% on the prior quarter.
BOD’s recent distribution agreements with Chemist Warehouse and Priceline were beneficial and should continue to provide tailwinds for the business.
BOD has a cannabis oil called MediCabilis. In the December quarter, it received its first prescription through the Australian government’s Special Access Scheme, in place for medicinal marijuana products.
What are some further tailwinds for this business?
BOD is also conducting a clinical trial for a proprietary cannabis extract. This is showing early promise too.
Market interest in the stock is highly geared towards its cannabis products and their further market potential. BOD obtained an export licence from the relevant Australian authorities last year. That could enable an international expansion.
This article is not an endorsement of BOD Australia or a recommendation to buy and sell. It’s an observation that the company announced positive news today only.
One idea is to include BOD on a watch list and watch for further announcements to gauge the progress of the company from here, especially around its cannabis products.