ChromaDex Continues Up-and-Down Activity, Drops Again After Yesterday’s Rise (CDXC)

ChromaDex (OTC: CDXC), a manufacturer of natural products, saw a $0.03, or 3.5%, drop today after making a small gain yesterday. The Irvine, California-based company has been in the news recently for its upcoming product launches, as well as its licensing and distribution activities.

The company produces natural ingredients for the dietary supplement, animal health, food and beverage, pharmaceutical and cosmetics industries. It announced yesterday that a distribution agreement for pTeroPure was in place with Glanbia Nutritionals, a global ingredient and micronutrient premix company. Under the agreement, Glanbia Nutritionals will serve as the exclusive distributor of pTeroPure to the food, beverage and dietary supplement industries in North America.

On July 17, 2012, ChromaDex announced it was preparing for its commercial launch of nicotinamide riboside, a more potent version of vitamin B3 (niacin) that protects the brain, controls blood glucose levels and prevents obesity. Just a day earlier, the company announced it had licensed exclusive rights to several patents related to the vitamin.

After closing at $0.769 yesterday, ChromaDex stock opened at $0.78. It dropped to $0.69 and went as high as $0.795 before closing at $0.74 today. The company’s stock has been inconsistent over the past 52 weeks. The pattern, however, appears to be consistent, experiencing a gain one day and a loss the next. Instead of remaining level, the stock has seen a major decline since its 52-week high of $1.75, which was attained exactly one year ago. It has dropped nearly 58% since then. In fact, the company reached its 52-week low just a few months ago, when the stock fell to $0.4767 on May 17, 2012.

Despite the drop in price, volume was up by 65% today. With a daily average volume of 280,177 shares, more than 461,000 shares were traded today. On July 16, 2012, volume exceeded 1.4 million shares. However, the 52-week high came on February 1, 2012, when more than 1.8 million shares were traded. Volume has exceeded one million shares several times since then.

ChromaDex desperately needs some consistent activity to gain the attention of investors. The company has not even been mentioned in penny stock newsletters since March 2011. However, the company has been very active, issuing many press releases in the past month while the stock price continues to drop. It is dropping more than it is gaining, and it does not show signs of making a huge run anytime soon. Could the upcoming release of ChromaDex’s super vitamin, which could help the segment of the population that struggles with obesity, give the company the boost it needs? Will ChromaDex stock continue to fizzle, or will it see some sizzle in the near future?

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Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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