Xebra Brands Ltd. (OTC:XBRAF) Stock Takes a Hit: Here is Why
The CBD and cannabis industries continue to be a source of interest for several investors owing to their long-term potential, and investors who are interested could look into a number of options. One of the companies that could be worth looking into is Xebra Brands Ltd. (OTC:XBRAF). On April 4, the company came into focus after it announced that it had submitted its third product application to the Federal Commission for Protection Against Sanitary Risk (COFEPRIS) in Mexico for approval pertaining to domestic production.
In the news release, the company noted that the submission was a demonstration of the commitment of Xebra Brands to delivering CBD products of higher quality to consumers across the nation in a range of formats. The company went on to note that the latest addition to its Elements brand was a tropical lotion that had been crafted with a lot of care so as to provide nourishment and targeted relief to the skin. The lotion also contained high-quality CBD extracts, as the company further noted. Xebra Brands claimed that the lotion would provide consumers with a premium skincare experience.
The interim Chief Executive Officer of the company, Rodrigo Gallardo, spoke about the development as well. He stated that everyone at the company was excited about the prospect of expanding the Elements brand thanks to the submission of the third product, Elements Tropical Lotion, for domestic production.
Gallardo also stated that the submission was a demonstration of the fact that the company was committed to promoting innovation in the Mexican CBD space. The skincare products category provided a major opportunity to differentiate the points of distribution as well as the customer base from traditional CBD products like tinctures and capsules. In light of the latest announcement, it could be a good time to keep an eye on the Xebra Brands stock today.
