A New Jersey-based holdings company just announced the acquisition of a new health and wellness brand: Champ Life. The brand has been wholly-acquired without any net change to the share structure of the acquiring company, OMID Holdings Inc. (OTCPK:OMID). Shares of OMID soared as traders got behind the idea of the acquisition.
Omid Holdings is a health and wellness company. It is specialized in the sale and manufacture of CBD-based products. The company manufactures and sells branded inhalable, sublingual, and topical hemp-derived consumer goods. Its brands include Naturally Peaked Health, Shangri-La Life, and Peac Wellness. The company also offers design, development, manufacturing services to clients in the CBD-based cannabis industry.
Shares hit an early session high of $0.1119/share (+20.32%) following the announcement. This move likely has longer term investors hoping for an upward breakout of the trading range the stock has been stuck in since the beginning of February.
