Why CBD Will Be the Real Winner of Super Bowl LIII

I recently proclaimed 2019 the "year of CBD," and it seems from the mainstream coverage I'm starting to see, folks got the memo. Early in 2018, Canopy Growth purchased Canadian hemp producer Green Hemp, and it also bought the assets of Ebbu LLC, a U.S.-based hemp company. For 2019, Canopy is making even bigger moves in the cannabidiol market. On Jan. 14, the Canadian company announced it received a license in New York to process and produce hemp. In what might be the largest hemp investment to date, Canopy will invest as much as $150 million in its New York operations to produce hemp extracts and hemp-based CBD products. Not to be outdone, Aurora Cannabis is also getting in on the action. In May 2018, Aurora boosted its stake in Hempco to more than 50%. For more than 10 years, Hempco has been a pioneer in hemp-based foods. A few months later, it acquired Europe's largest hemp producer, AgroPro. In the next few months, Aurora will unveil a plan to produce hemp-derived CBD products for the U.S. market, according to Business Insider. While this news is coming in at light speed, I can't say I was surprised; the passage of the Farm Bill effectively normalizes CBD across the country by making industrial hemp, a major source for CBD, legal on the federal level. With these reforms, retailers nationwide can sell these products without fear of enforcement action by the government. That means selling CBD, from coast to coast, to the tune of billions of dollars in revenue for these companies, is the next order of business... Tags: trading strategies To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2019 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Why CBD Will Be the Real Winner of Super Bowl LIII appeared first on Money Morning - We Make Investing Profitable .