Why ChromaDex Stock Blasted Almost 30% Higher Today Before Falling Into the Red

Bioscience company ChromaDex (NASDAQ: CDXC) got off to a roaring start on Wednesday, rising nearly 29% in early trading, before melting to a 2.3% decline by midafternoon. A big distribution deal was the reason for the sudden pop.

This morning, ChromaDex announced that its Tru Niagen dietary supplement will hit the shelves of Walmart (NYSE: WMT) beginning in June. Tru Niagen will be sold in two packaging options in the 3,000 stores where the product is being distributed. Remote shoppers can also purchase it through the Walmart e-commerce portal.

ChromaDex claims that Tru Niagen, which is approved by the Food and Drug Administration, increases nicotinamide adenine dinucleotide (NAD) in the body. This chemical helps the body produce energy, and it declines with age. It can also be eroded, says ChromaDex, by stressors such as overexercising, lack of sleep, and alcohol consumption. 

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Source Fool.com