Advisory Board Moves followed by Subsidiary Spin-out News
Steve Jobs was booted from the company he famously cofounded in his parents’ garage, only to return to rescue it from near bankruptcy in 1997 and, just a few years later, he built Apple (NASDAQ: APPL) into the world’s most valuable company. From iPhones to Apple Stores and Pixar films, Jobs influenced multiple companies that impact our lives daily.
Similarly, Elon Musk made Tesla (NASDAQ: TSLA) and SpaceX household names, but he’s more than carnival barking and has even positioned Tesla turning true profits well before most analysts’ projections.
Savvy investors know that proven leaders and ‘Midas Touch’ influencers tend to deliver success catalysts, which is reason enough to keep an eye on FSD Pharma’s (NASDAQ: HUGE) recent high-profile additions.
On February 28, 2023 FSD Pharma added Kevin Harrington, an original Shark Tank “shark” and the creator of the “As Seen on TV” brand, to its advisory board. Harrington has helped launch more than 500 products producing billions of dollars in global sales, with twenty of these products exceeding $100 million in revenues. However, it wasn’t until he helped turn around Celsius Holdings (NASDAQ: CELH) that average everyday investors were able to share in the upside, yet it sounds like lightning in a can may strike twice for him.
Then, on March 30, 2023, FSD landed Gerry David on its Advisory Board, who is “best known for his five-year tenure as Chief Executive Officer at zero-calorie fitness drink maker Celsius Holdings, Inc. where he spearheaded a turnaround that resulted in a global sales explosion, influx of capital from notable strategic investors, and a rise in market capitalization that increased shareholder value 35-fold by exceeding $9 billion.”
David and Harrington were able to parlay their star power to attract other celebrities and business leaders to contribute to various business milestones, from fundraising to market development and endorsements. The bottom-line results are impossible to dispute, as the Celsius share price ran from under an under 20 cents, adjusted share price, when Gerry David started in 2011, to $67.84, when Harrington stepped down from the Company's Board of Directors, in 2021.
It will be interesting to see if Harrington and David can repeat the success in FSD Pharma that they brought to Celsius Holdings, but with David stating, "I have seen countless products throughout my career and I can honestly say that I have never seen anything as unique and disruptive as the product FSD Pharma is developing to counteract alcohol intoxication and misuse," it sounds like he likes his chances.
FSD Pharma just turned the intrigue knob to 11 by announcing plans to spin-out a subsidiary, in the form of a distribution to shareholders.
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