Home / World / Cannabis Stocks Slump as FDA Casts Hazy Outlook on CBD-Infused Foods By Investing.com

Cannabis Stocks Slump as FDA Casts Hazy Outlook on CBD-Infused Foods By Investing.com

© Reuters.

Investing.com – Cannabis stocks fell sharply on Friday after the Federal Drug Administration said it was not yet known how safe the cannabinoid found in marijuana is for human consumption.

Tilray (NASDAQ 🙂 fell 3%, while Aurora cannabis (TSX :), Cronos Group (NASDAQ 🙂 and Canopy growth Corp (NYSE 🙂 fell 4%.

The FDA obtained its first public hearing on cannabidiol, one of the most common chemical compounds found in marijuana, in progress, with a large number of cannabis companies seeking to influence the FDA to allow the sale of food supplements derived of cannabis and food products.

But before the runoff of the arms has begun, the agency warned that there is still much to discover about the risks of cannabis food products.

In prepared comments, Commissioner Ned Sharpless said there are "real risks badociated with (THC and CBD) and there are critical questions about the safety of their widespread use in food and dietary supplements."

While medical marijuana has been allowed in several states to treat various ailments, including severe pain and nausea, cannabinoid is not allowed in dietary supplements or foods.

It is unlikely that Friday's hearing will show anything other than a fact-finding mission for the agency and many say that this is only the first step in a long battle over attempts by cannabis companies to legalize their marijuana-infused snacks.

Resignation: Means of fusion I would like to remind you that the information contained on this website is not necessarily accurate or in real time. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but by the market makers, so the prices may not be exact and may differ from the real market price, which means that the prices are indicative and not suitable for commercial purposes. Therefore, Fusion Media badumes no responsibility for commercial losses that may occur as a result of the use of this data.

Means of fusion or any person involved with Fusion Media will not accept any liability for loss or damage as a result of relying on the information, including data, quotes, graphics and purchase / sale signals contained on this website. Be fully informed about the risks and costs badociated with trading in the financial markets, it is one of the riskiest forms of investment possible.

Source link