cbdMD, Inc. (YCBD), a company that produces and distributes various cannabidiol (CBD) products, has declined 4.64% in aftermarket trading session. Consequently, YCBD stock is trading at $1.85 at the time of the writing. The decline could be due to the profit-taking factor after YCBD stock surged 30.20% during Monday’s regular trading hours and closed the day at $1.94. The surge was attributable to the announcement of the partnership with Amazon.

Why YCBD Soared?

On Monday, YCBD announced its multi-year partnership with Amify. Amify is a platform partner of Amazon.com. The partnership was meant to prepare for the inclusion of CBD products on the Amazon marketplace. Amify would serve as the exclusive CBD partner to the company. It would launch the company’s products on the Amazon platform as soon as the category is accepted and would become available. The partnership would include all the leading and award-winning cbdMD branded products.

Q3 2021 Operational Results

On 12th August, YCBD released the operational results for the third quarter of the fiscal year 2021. The quarter ended on 30th June. The company generated total net sales of $10.56 million during the quarter against $10.63 million for the same quarter of 2020. The operating expenses for the period were $13.86 million against $8.22 million for the same period of 2020. The company generated a net income of $1.53 million (or $0.02 per basic and diluted share) during the quarter against the net loss of $8.95 million (or $0.18 per basic share) for the same quarter of 2020.

Business Highlights

Alongside the operational results, YCBD also released the business highlights of the period. The company expanded on its award-winning sleep products during the quarter. It launched cbdMD Therapeutics subsidiary to advance cannabinoid science and clinical studies. The renewal of NSF certification was done during the period. The company signed a sponsorship agreement with Master Champion and 9 Time PGA Tour Winner, Patrick Reed. It extended its partnership with Bellator MMA. The company announced the addition of the new role of Chief Revenue Officer.

Future Outlook for YCBD

During the last three months, YCBD stock has declined more than 10%. However, the estimates suggest that the company is in a good position to attract potential investors toward. Hence, upcoming times seem to be scintillating ones for YCBD stock.