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March 20, 2021
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DOD shares fell nearly 6% after it was revealed that the company had been seized by the FDA to seize the hemp license.
It became a hot topic after DOD Biotech Public Company Limited or DOD, the most popular hemp stocks. News via the Thailand Stock Exchange at noon on March 19 that the subsidiary “Siam Herbal Tech” was restored by the Food and Drug Administration (FDA) to reinstate a license to import hemp seeds without notification.
Resulting in the Company’s share price The same afternoon, a sharp 6% drop from the opening price of 15.20 baht per share to a low of 14.30 baht per share due to investor concerns on the Department of Defense hemp business plan.
But when brokers ask the company instead, it clarified that the FDA requested to restore the license. Because the form and details of the license need to be reviewed, but the FDA has not reported that it will disqualify the commercial license or not. It is expected to take about 1 week to know the clarity.
Hot months for the FDA, they have to explain themselves that it is a misunderstanding, and they insist that the DOD is one of the 7 companies qualified to import hemp seeds. But the license must be restored briefly because the Committee on Narcotic Drugs has ordered to adjust only the details. And also confirm that the license will not be permanently restored
Investors noted that one of the DOD’s largest shareholders was a deputy from the joint government. It is also the party that has the power in the Ministry of Public Health. The FDA is affiliated with So I started asking questions about what happened yesterday as a mistake. Or is it intended to have an effect on the DOD’s share price?
But sure, the DOD’s stock price has risen 26.27% after announcing the smoking hemp business on February 8. It has risen from 12.60 baht per share to 14.90 baht per share today (closing price on March 19).
