5 Best CBD Stocks to Buy Right Now

2. cbdMD Inc (NYSEAMERICAN:YCBD)

Stock Upside Potential: 162.85%

Number of Hedge Fund Holders: N/A

cbdMD Inc (NYSEAMERICAN:YCBD) is one of the best CBD stocks to buy right now. The stock has gained around 35% over the past six months, and analysts see more upside potential, expecting the stock to surge more than 160% over the next 12 months.

cbdMD Inc (NYSEAMERICAN:YCBD) reported its March quarter results on May 14. The report showed revenue increased 19% YoY and 12% sequentially to $5.6 million. The company said the topline growth reflected continued momentum in its core business as well as contributions from the newly acquired Bluebird Botanicals.

Bluebird is a long-standing and respected brand in the CBD industry. According to Ronan Kennedy, the CEO of CbdMD, the Bluebird acquisition is a case study for what they can do and sets the template for additional strategic acquisitions.

Looking ahead, the CbdMD management expects Bluebird to contribute more to both its topline and earnings as operational efficiencies are realized and additional products are rolled out. With the integration of Bluebird, CbdMD expects to realize operational efficiencies through consolidated manufacturing, supply chain, and shared services. In addition, the management expects the expanded product offering and cross-brand distribution to accelerate revenue growth.

Beyond the expected Bluebird contribution, the CbdMD management is also excited about the opportunities in the CMS BEI Medicare pathway activation. This program allows participants in certain centers to consult about incorporating hemp products to improve symptom control.

cbdMD Inc (NYSEAMERICAN:YCBD) produces and distributes hemp-derived CBD products for wellness. Its portfolio includes CBD oils, gummies, and sleep aids. While the company primarily offers CBD products for human consumption, it also provides pet-specific products.

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