FDA updates stance on CBD, pot stocks dip

FDA updates stance on CBD, pot stocks dip

The U.S. Food and Drug Administration said late Monday that it cannot conclude that cannabidiol, or CBD, is generally recognized as safe among experts for its use in human or animal food. Weed stocks dipped in the extended session, with Tilray Inc. falling nearly 1%, and Aurora Cannabis Inc. falling 0.4%. Canopy Growth Corp. stock was up 0.3% and Cronos Group Inc. was flat. As a part of the announcement, the FDA said it had warned 15 companies around the U.S. that they were illegally selling products containing CBD, a nonintoxicating cannabinoid found in the cannabis plant. The revised consumer update issued late Monday discusses safety concerns around CBD use and potential liver injury, as well as side effects such as drowsiness, gastrointestinal distress, and changes in mood. The FDA said it plans to continue to issue updates as it learns more about CBD. The revised consumer update included the warning that it is currently illegal to market CBD by adding it to a food or labeling it as a dietary supplement. The ETFMG Alternative Harvest ETF , which tracks a basket of weed and consumer packaged goods stocks, gained 0.1% in the extended session. READ MORE: https://finance.yahoo.com/m/92a0f460-071c-3100-8c59-29b7abb9ec2e/fda-updates-stance-on-cbd%2C.html?.tsrc=rss The post…

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