Cellular Goods (CBX.L) backed by David Beckham soared on their debut on the London Stock Exchange.

0
161
business news, latest business news, economy news, indian economy News, share market news, breaking business news, Sensex updates, bse, nse, stock exchange news, stocks news, banking sector news, news on economy, news on top companies India power consumption, India power consumption 2021, India power consumption february 2021, India power peak demand, India power peak demand 2021, India power peak demand february 2021, India power consumption rises in february 2021 economy news, economy news india, politics news, indian economy, indian economy news, economy news today, latest economy news, politics news, politics news headlines, business news analysis, corporate business report, indian economy analysis, business eco share market news, share market news today, share market news live, share market today, share market prediction, share market news in india, share market news latest, indian stock market, markets news, Bombay stock exchange, BSE, NSE, best performing stocks Latest Business News, IPO News, Business News, Sensex News, Economy News, Today’s Business News, Stock Market News technology news, technology news india, latest technology news, tech news, tech news india, gadget news, smartphone news, mobile launch news, smartphone launch news, latest gadget news, tech news on mobile launch Corporate houses, big corporate houses, Q1 results, Q2 results, Quarterly results, Corporate policies, business policies, business houses, business, business news Business News, Finance News, India News, BSE/NSE News, Stock Markets News, Sensex NIFTY, Latest Breaking News Headlines market news, market live stock market, rates, stock share value, markets stocks, broker research reports, investment, ipo analysis, Indian Stock/Share Market Live, latest business news, latest business news in india, latest business news today, latest business news headlines, latest business news in tamilnadu, latest business news in tamil, latest business news in india today, latest business news app, latest business news international, latest business news around the world, latest business news articles, latest business news all hindi news paper, latest business news australia, latest business news america, latest business news aston martin, latest business news africa, latest business news bbc, latest business news business standard, latest business news cnbc, latest business news canada, latest business news covid 19, latest business news china, latest business news cnn, www.latest business news.com, latest business news dubai, latest business development news, latest news business day, latest news business daily, latest business news malayalam dhanam, latest business news in denmark, debenhams latest business news, latest business news economic times, latest business news europe, latest business news ethiopia, latest business news english, current business news events, latest business environment news, latest business ethics news, current business ethics news, latest business news for quiz, latest business news from india, latest business news for presentation, latest business news forbes, latest business news from around the world, latest business news headlines for today, latest business and finance news, latest news for business
Latest top news in India | Current top news in India | Top 10 news in India

Cellular Goods (CBX.L) offered shares at 5p in its IPO and the price of its stock climb as high as 28.5p on its first day of trading on Friday. The stock was still changing hands at 23.90p by 10am in London. The surge valued the pre-revenue business at over £100m ($139m).

Cellular Goods is a wellness company that makes skincare and mood enhancing products from cannabinoids, natural compounds produced by the cannabis plant. The products will not contain THC, the psychoactive compound found in cannabis that makes people high. The best known cannabinoid is CBD which consumer goods companies have put the compound in everything from drinks to eye creams.

Former star footballer David Beckham is one of the biggest outside backers of Cellular Goods. Beckham owns a 5% stake in the company through his holding company DB Ventures.

“With shares 13 times over-subscribed, initial demand for cannabinoid company Cellular Goods was always likely to be high and as trading has got underway it’s become a hot stock,” said Susannah Streeter, a market analyst at Hargreaves Lansdown. “David Beckham’s backing certainly added a celebrity glow to its listed debut.”

Streeter said the CBD skincare market was forecast to grow to $3.5bn over the next five years but said it was already “a highly competitive field.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here