Ohio just legalized hemp and CBD oil made from hemp, as a growing number of states have already done and others are contemplating. Cannabis companies like Charlotte’s Web, CV Sciences, and Elexinol Global are among the top producers of hemp oil today.
Does that mean that MSO medicinal dispensaries like Curaleaf and Anchorage will lose business to hemp oil products? Perhaps even get switched to a dead end sidetrack and get left behind as the hemp oil train leaves the station?
Legal hemp oil cannot replace CBD for medicinal purposes.
Because the main product of medicinal marijuana dispensaries is not CBD oil, but marjijuana oil, which contains too much THC to be sold as CBD oil. So shops and other retailers, even online, can’t even sell the THC oil provided by dispensaries. Some tests have shown that CBD, which is also present in THC oil, is more effective for therapeutic purposes when combined with THC, of which less than .3 percent is allowed in CBD oil.
And hemp oil, which is produced with olive oil, contains far less CBD than the CBD extracted with the more expensive methods that use solvents or CO2. Michigan, which legalized hemp oil and CBD in the last week of March, has ruled that CBD cannot be used in foods or beverages, but that hemp oil, which contains CBD, is ok. This, however, adds to the confusion. By CBD-infused, do they mean CBD extracted with solvents or CO2, not olive oil?
Don’t Bogart the Stock, My Friend
Regardless of the ongoing confusion about what’s legal with CBD sales, MSOs have nothing to worry about as legal hemp oil and products become more readily available. In fact, it gives them an additional product to sell not only in their dispensaries, but also to stores, online and other venues.
So hold onto your MSO stocks, or at least the ones that are performing better than their peers. There’s room for everyone to make money in the Age of Cannabis.
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