CGC - Top 3 Cannabis Stocks to Buy Ahead of Canada's 2.0 Legalization
Canada officially legalized dried cannabis flower, oils, and sprays for recreational use last year. However, there were many other marijuana products left off the table. Most notably excluded were cannabinoid-based edibles, beverages, topicals, and concentrates. By extracting CBD from cannabis and hemp, consumers can enjoy the health and other benefits of cannabis without the feeling of getting high, which is the result of another compound found in marijuana, tetrahydrocannabinol known as THC.
What is important is that these CBD-derivative products have higher profit margins and are easier to sell to consumers who don't typically consume marijuana. With regular dried sales beginning to slow down in some states due to oversupply, CBD consumables are the next logical path for cannabis companies to expand into.
As investors eagerly anticipate October 17, the day when Canada will legalize these CBD products for recreational distribution, many companies have been preparing their own product lines for launch.