Youngevity shares jolted higher after coffee supply deal, but its cannabinoid products keep shares abuzz

Lifestyle company Youngevity International Inc’s (NASDAQ:YGYI) shares are abuzz Thursday following a deal to supply its coffee brand to a major cruise line.

The company signed a two-year contract with an unnamed cruise operator to supply its CLR Roasters coffee to more than 60,000 crew members aboard 60 ships as well as to passengers of three luxury cruise ships.

“We are hopeful that this relationship will lead to other opportunities among this prestigious operator’s other six cruise line brands,” said CLR president Ernesto Aguila in the company’s press release.

Its brands include CLR Roasters’ Gourmet blend, Josie’s Java House and Café La Rica, an espresso with a taste similar to Cuban coffee.

Shares of the company soared more than 34% to US$5.85 in Thursday afternoon trading.

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News of the coffee deal gave Youngevity’s shares a jolt, but the company also operates in another burgeoning space — the cannabis market.

The company introduced its new Hemp FX product line in late August.

“Hemp-derived cannabidiol aligns with what we do very well,” said CEO Steve Wallach in the company’s press release.

 “We’ve taken what we know about essential nutrients, along with decades of knowledge specializing in natural, plant-based nutrition and their most beneficial nutrients and put that knowledge to work to develop high-end cannabidiol products.”

The line will include three blends of organic hemp-derived cannabinoid products, including Soothe, Relax and Uplift.

Soothe features CBD oil mixed with several herbs and an antioxidant called glutathione, intended to support immune system health and relieve muscle and joint pain.

Relax is a sleep aid that blends the CBD oil with botanicals like chamomile, lavender, valerian, and melatonin.

Uplift is meant to be a mood booster, combining the CBD oil with St. John’s Wort and other terpenes, or cannabinoid enhancers.

The San Diego-based company first shared the products with attendees at its recent convention, but the line will be available to the public in October, just in time for Canadian legalization.

Story by ProactiveInvestors