The cannabis industry is expected to triple in the next five years, and many investors are looking to profit. As the United States and some other countries decriminalize or legalize cannabis, there are loads of opportunities for entrepreneurs and existing companies. CBD is the main ingredient in many products sold in the rapidly growing market and many cannabis stocks are involved in CBD trade.
Investors are probably grateful that there are only a few weeks left in 2019 for cannabis stock reports.
It was a difficult year for them, with cannabis investments losing value due to a myriad of negative factors. This includes supply problems in Canada and high taxation of cannabis in the United States.
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Among some consumers, CBD-based products have been very popular. This is because CBD is supposed to be useful for a range of medicinal uses.
However, this is not the general opinion of the FDA. The federal health industry regulator has issued an unfortunate update to its guidelines on CBD. The document states, “people may mistakenly believe that trying CBD can’t hurt.”
The document by the federal health industry regulator listed a series of potentially harmful effects associated with CBD consumption, including liver damage, reproductive toxicity in humans and various forms of gastrointestinal distress.
The FDA pointed out that there is a lot of unknown information about the effects of CBD on the body and mind.
This is an important reason why the document has approved the compound for only one drug, GW Pharmaceuticals’ (NASDAQ: GWPH) Epidiolex, used to treat two relatively rare forms of epilepsy.
Meanwhile, CBD is the main ingredient in many products sold in the rapidly growing market for cannabis products. It has been found in oils, ointments, sleeping pills, and many other products.
The vast majority of these products “have not been evaluated by the FDA to determine whether they are effective in treating a particular disease or have other effects that could be claimed,” it said in the updated instructions.
“In addition, they have not been evaluated by the FDA to determine what the appropriate dosage is, how they could interact with other drugs or foods, or if they have dangerous side effects or other safety problems,” the document stated.
Since many cannabis stocks are involved in the CBD trade, most fell in share price (with the exception of GW Pharmaceuticals, which is the only manufacturer of CBD-based drugs approved).
Investors and those interested in seeing better cannabis stock reports, should not panic. The FDA added that it has been working on deepening its knowledge of the substance.
There are reasons for the market to be optimistic about cannabis stock reports, despite the many challenges facing the cannabis sector.
Cannabis 2.0 is a great example, with the Canadian federal government legalizing the production and sale of by-products such as cannabis-based drinks and gummy candies.
Last week Canopy Growth announced that a beverage production and development facility located at its Ontario headquarters had received a secure and operating storage permit from the Canadian government.
Once receiving the crucial permit it immediately launched production of a new line of cannabis-infused beverages, 11 in total, using a proprietary method called distilled cannabis. Canopy Growth said these libations will be available to consumers “within weeks.”
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