It was just in June that GW Pharmaceuticals plc. (NASDAQ:GWPH) created a monstrous ripple effect throughout the legal marijuana industry when it received the first FDA approval for its CBD oil derived drug that is intended to treat childhood epilepsy.
The FDA approval of Epidiolex this summer has sparked an even bigger interest on Wall Street towards cannabidiol (CBD) oil companies.
CBD, or cannabidiol, is one of the dozens of cannabinoids found in hemp, but unlike THC it doesn’t cause people to get “high.”
With CBD oil expected to dominate the health and wellness industry for years to come, Golden Developing Solutions (OTC: DVLP) could soon become the next all-star in a projected billion-dollar industry.
The explosion in cannabis popularity has lead to an even bigger explosion in cannabis products this decade.
Americans’ support for legalizing marijuana continues to increase with marijuana support now at a record high. This has created a tremendous market for marijuana products, including CBD oil, and could quickly get Golden Developing Solutions noticed.
The company is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products.
Through the website of its wholly owned subsidiary, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the company is offering a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products.
Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.
“We believe this market is just beginning its meteoric rise, and that launching Pura Vida Vitamins’ website is just the first step toward our bright future within this expanding and maturing industry,” stated DVLP CEO Stavros Triant.
He added, “We believe that our experienced and results-driven team has positioned us to take advantage of the anticipated growth within the consumer CBD industry.”
Pura Vida Vitamins offers a wide range of unique CBD products and supplements, as well as edibles, vapes, tinctures and creams. Additional CBD products are in development, including a CBD pet line.
Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.
CBD oil has been studied for its potential role in treating many common health issues. This includes chronic pain, ptsd, anxiety, depression, acne, heart disease, and even cancer.
One of the most exciting aspects of CBD is how it is being replaced as a substitute for highly addictive opiates.
Little do people know that the opioid epidemic has cost the U.S. over a trillion dollars since 2001. Congress is even considering spending $6 billion over the next two years to address the national crisis.
You have to wonder when John A. Boehner, the former Republican speaker of the House, who once said he was “unalterably opposed” to decriminalizing marijuana laws, is now a part of the board of directors for a CANNABIS company.
The mindsets of many proponents are changing and realizing just how beneficial cannabis is to society.
Many in the cannabis industry claim that as long as the CBD product contains less than 0.3% THC, it is classified as hemp under federal law and is therefore legal to possess and distribute. This gives Golden Developing Solutions a massive market despite federal law and many state laws prohibiting marijuana.
Saying that the CBD market’s potential growth is ‘promising’ may be a gross understatement. Reports have indicated that the cannabidiol (CBD) market is estimated to grow by 700 percent by 2020.
A report by market intelligence firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020. Comparing this to the $202 million it saw last year, this is phenomenal growth.
Many on Wall Street are looking to take advantage of the further explosion that is expected in the industry, especially as more and more U.S. states legalize the recreational use of cannabis.
Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes.
2017 was a year of big gains for several legal marijuana stocks including Aurora Cannabis, which gained almost 350%, Aphria, which saw a gain of almost 300%, and Canopy Growth, with a gain of almost 250%.
When Constellation Brands, a Fortune 500 company, said it was taking a 10% stake in a cannabis company called Canopy Growth to make CBD beverages, it made Wall Street quickly pay attention. Same with the FDA approval of Epidiolex.
The staggering rise of many marijuana stocks are showing investors what kind of potential returns could be possible and Golden Developing Solutions (OTC: DVLP) may be poised for rapid growth!