Forget the FDA! You Can Still Invest in CBD and Make Money
Although marijuana stocks have been a hot investing trend for years, perhaps nothing eclipses the excitement that's surrounded cannabidiol (CBD), the nonpsychoactive cannabinoid found in cannabis and hemp that's best known for its perceived medical benefits.
According to estimates released earlier this year by the Brightfield Group, U.S. CBD sales are expected to skyrocket from around $600 million in 2018 to $23.7 billion by 2023. For those of you keeping score at home, this is, indeed, a greater-than-100% compound annual growth rate over the next five years.
Making matters more exciting, President Trump signed the farm bill into law last December, making it legal to grow industrial hemp and derive CBD from hemp. Within the U.S., cannabis is still illegal at the federal level, but since hemp is abundant in CBD, it's the perfect low-cost solution for CBD extraction. And given that CBD can be infused with so many different products, it only seemed logical for cannabidiol to become the next big thing in the investing world.
Source Fool.com
