|Forum - Pinks and BB
||Pinks And BB Top Stock Picks|
|From: crainiac (Rep: 4155)||Date: 06/14/2019 09:10|
|Forum: Pinks and BB - Msg #135986||Thread #674086220 (Rec: 0) |
|Although all aspects of the pot industry are growing quickly, perhaps nothing is buzzier than the rise of cannabidiol (CBD) products, CBD being the nonpsychoactive cannabinoid best known for its perceived medical benefits. CV Sciences (NASDAQOTH:CVSI), which sells hemp-derived CBD products, now projects for $0.22 per share in 2020 profit, up from the $0.17 in EPS Wall Street had been forecasting three months ago.|
There's certainly strength in numbers for CV Sciences. At the end of March 2019, CV Sciences was distributing its CBD products in just over 3,300 retail locations, which was a 48% increase from the sequential fourth quarter, ended Dec. 31, 2018. Then, following a recent update on June 12, this distribution network had increased again to nearly 4,600 stores. This big jump is the result of the farm bill becoming law in December, which legalized the industrial production of hemp and hemp's derivatives, including CBD. With acceptance of CBD growing, and CV Sciences landing national grocer Kroger as a distribution partner, things are definitely looking up.
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