In the wake of two new cannabis stocks listing on the London Stock Exchange this week (Kanabo and MGC Pharmaceuticals), 119-year-old British American Tobacco is considering its options in the space. British American Tobacco’s foray into CBD The FTSE 100 stalwart has been struggling in recent years as tobacco falls out of favor. Nowadays, it still sells big brand cigarettes such as Lucky Strike and Rothmans, but it’s also been repositioning into smoking alternatives such as vaping. Given its growing popularity, cannabis seems like the next logical step. Speaking to CNBC, BATS Chief Marketing Officer Kingsley Wheaton said: “last year we signaled that we would look at consumer spaces beyond nicotine and indeed CBD would be one of those…it’s an exciting growth area for our business for the future.” CBD or cannabidiol is a cannabis ingredient derived from hemp. While consumer demand is rocketing, the regulatory landscape remains pretty strict.
Mmp News Author, Medical Marijuana Program Connection, 02/19/2021 02:52:00