Curaleaf Holdings just jumped into the hemp market with a deal to sell hemp-based CBD products at CVS Drugstores. (Cresco Labs, one of Curaleaf’s main competitors in the MSO dispensary market, had already announced plans to sell hemp-based CBD products in all 50 states.)
Initial products hitting the shelves in eight states right away are CBD lotions, creams and sprays. No food or supplement products are being sold until the FDA or Congress makes them legal at the federal level.
CVS plans to introduce the first line of Curaleaf Products in Colorado, California, Illinois, Alabama and four other states. They have more than 800 outlets in the US and nearly 10,000 around the world.
Curaleaf’s stock price popped 17% with heavy volume before noon.