CBD Industry Is Poised to Witness Solid Growth in 2020
The CBD industry is one wing of the cannabis industry that has grown at a remarkable rate, and despite the overall misery in the cannabis market in 2019, CBD stocks did relatively well. However, the warning from the United States Food and Drug Administration proved to be a problem for most CBD stocks.
That being said, analysts now believe that CBD stocks could generate significant gains in 2020 and not look back. One of the most important things to keep in mind in this regard is the fact that the FDA warned about the use of CBD in food or diet supplements.
However, there could be an opportunity to sidestep this particular ruling from the FDA. Republican Collin Peterson introduced a bill last week to amend the Federal Food, Drug, and Cosmetic Act and add CBD to the list. If that bill passes, then CBD companies could go into the food and diet supplements markets in a big way this year.
If that bill does pass, then some CBD companies are going to be big winners, and one of those is CBD Unlimited Inc, which has slowly but surely become one of the major operators in the industry.
Charlotte’s Web Holdings (OTC: CWBHF) and Tilray (NASDAQ: TLRY) should benefit tremendously from a CBD end-run around the FDA. Another Canadian company, Canopy Growth (NYSE: CGC), is another potential winner.
CBD Unlimited Inc. (OTC: EDCX) is involved in making CBD products from hemp extracts and manufactures several types of products, including oils, tropicals, and pet products. The most important product for the company is Phyto-Bytes, which is a chewing product for pets and has managed to garner significant sales.
The research and development arm of CBD Unlimited Inc. (OTC: EDCX) has also managed to create products that are accurate in terms of dosage. The right dosage is a very important part of the manufacturing process since the wrong amount can lead to a range of problems for a company.
More importantly, CBD Unlimited Inc. (OTC: EDCX) has managed to build up a significant retail presence over the course of the past few years, and at this point, its products are available in more than 5,600 stores across the United States. This year, CBD Unlimited Inc. (OTC: EDCX) intends to take its products to more than 20,000 stores and eventually beyond 50,000. This is a stock that investors could keep an eye on.
Source: Stock Market Press
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