Why ChromaDex Stock Is Jumping Today

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What happened

Shares of ChromaDex (NASDAQ:CDXC) were jumping 7.1% higher as of 11:38 a.m. EDT on Monday after rising as much as 16.2% earlier in the day. The big gain came after the company announced the launch of its Tru Niagen vitamin B3 product in 3,800 Walmart (NYSE:WMT) stores across the U.S. 

So what

This launch wasn’t a surprise. In March, ChromaDex announced that Walmart would begin carrying Tru Niagen in its stores in June. However, investors still cheered the launch, which has been anticipated for several months.

Image source: Walmart.

Tru Niagen has been on the market for years. ChromaDex reported sales for the product totaling $12.4 million in the first quarter of 2021, up 12% year over year. 

The deal with Walmart is enormously important for ChromaDex, though. Walmart is the first major U.S. retailer to offer Tru Niagen. Two dosages — 100 mg and 300 mg — will be available in Walmart’s stores as well as online.

Now what

ChromaDex has made a couple of other deals that could provide catalysts for the healthcare stock in the not-too-distant future. In April the company inked a supply agreement with Health & Happiness Group to use Niagen (the sole active ingredient in Tru Niagen) in H&H’s Swisse consumer products. In May, ChromaDex announced another deal with Ro to use Niagen in its products. 

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