Ladybug Resource Group Inc. (OTC: LBRG) Stock Continues To Trend Lower: Here is Why
The new week did not start off on a good note for Ladybug Resource Group Inc. (OTC: LBRG) shareholders as the stock suffered from a selloff and declined by 21% for the day on Monday. While investors would be hoping for a recovery, it may be time to take a look at yesterday’s announcement.
Strong Forecast
On Monday, the health and wellness products company announced that it had launched initiatives pertaining to new lines of products, strategically important acquisitions, and NutraBuddy, its AI-backed eCommerce platform. Ladybug Resource noted in the news release that through NutraBuddy it had set a target of 10 million users in the first year after launch. The company was also following the current growth in the nutraceutical market by posting in excess of $6 million in revenues for the first half of 2024.
The Potential Market
As per the current market trends, there is a 114% rise in the size of the nutraceutical market. In 2024, the worldwide nutraceutical market commands a valuation of $447.35 billion, and in 2032 it is projected to hit $976.74 billion, which would work out to a CAGR of 9.95% from 2024 through 2024. In 2032, the projected size of the nutraceutical market in the United States alone is $163.15 billion. Hence, it could be a good move to keep an eye on the Ladybug Resource stock for the longer term.
CEO Quote
James Kurko, Chairman and CEO of Ladybug Resources Inc., says, “As a company, we’re excited to gain confirmation from an independent analysis report that supports our focus and direction in both growth and sales. This solidifies the initiatives and foundations the company has established.”
