Significant delays for New Age Beverages Corp.Technical Analysis:
- Support: 4.92; 5.47
- Resistance: 5.71; 5.96; 6.30
I would recommend a SL: 5.96 and a TP: 3.52
- MACD: Short
- RSI: Short
- Momentum: Short
- OBV: Short
Fundamental Analysis:
Head Line: "CBD-Infused Beverages, Delayed Indefinitely"
"It is unlawful under the FD&C Act to introduce food containing added CBD or THC into interstate commerce , or to market CBD or THC products as, or in, dietary supplements, regardless of whether the substances are hemp-derived. This is a requirement that we apply across the board to food products that contain substances that are active ingredients in any drug.”
FDA didn't changed its opinion after the Farm Bill at 20th December -> CBD infused products are still illegal
Consequences: "The company will face significant delays and reduce guidance in 2019"
