Cosmos Health (COSM) Stock: Why It Surged Over 20% Today

By Amit Chowdhry ● Aug 25, 2022
  • The stock price of Cosmos Health (COSM) surged by over 20% during intraday trading today. This is why.

The stock price of Cosmos Health (COSM) surged by over 20% during intraday trading today. Investors are responding to Cosmos Health announcing that the company’s subsidiary SkyPharm S.A., a pharmaceutical wholesaler and distributor, officially launching its first Sky Premium Life (SPL) products on Amazon in the United States. Cosmos targets having all 85 SKUs listed on Amazon by year-end.

According to Business Market Insights, the US nutraceutical market is expected to grow at a 7.1% CAGR and reach $138 billion by 2027. And the rapid market expansion in the US is attributed to growth in health-conscious consumers. Plus Coherent Market Insights reports that more consumers are shifting focus from the treatment of diseases to daily preventive measures to reduce the onset of chronic and lifestyle-related diseases.

KEY QUOTE:

“We are excited to officially launch our SPL products on Amazon in the United States. SPL products are currently being shipped and will arrive in the U.S. in early September. Importantly, we have executed on our strategy in the U.S. by launching our products on Amazon in the third quarter of 2022 as stated previously. We expect to have all 85 SKUs listed on Amazon by the end of this year. We are accelerating our global roll-out strategy as we launch our products worldwide. Earlier this year, we successfully introduced our products on Amazon in the U.K. and Singapore. Our key objective is to grow internationally, as we continue to leverage our robust global logistics and distribution capabilities, while expanding our customer base worldwide.”

— Greg Siokas, Chief Executive Officer of Cosmos Health