Youngevity Int'l: Surges on $16 mln deal to buy cannabis-based equipment

Youngevity International

13/02/2019 18:09

** Shares of health and nutrition product maker  YGYI.O 
surge 11.4 pct to $8.098 on buying all the assets of
privately-held Khrysos Global in a $16 mln cash and stock deal
    ** Benchmark raises PT to $14 from $9
    ** Khrysos makes hemp-based cannabidiol (CBD) extraction
equipment  urn:newsml:reuters.com:*:nPn9WSyL1a
    ** Deal to allow YGYI to bring manufacturing for its CBD
brands in-house and add recurring rev via leasing, servicing,
and sales of hemp processing equipment
    ** Baird increases its 2019 estimates to reflect an initial
impact of Khrysos deal, which the brokerage believes will grow
quickly
    ** CBD is extracted from cannabis plants
    ** More than 2.3 mln shares traded, about 9x its 25-DMA
volume
    ** Including Wednesday's gains, stock up ~42 pct this year

 (Reporting by Medha Singh in Bengaluru)
 ((medha.singh@thomsonreuters.com))