Israeli cannabis stocks have weakened after hopes of unrestricted marketing of CBD in the US were dashed.
Cannabis stocks on the Tel Aviv Stock Exchange continued their decline yesterday, after a hearing held by the US Food and Drug Administration (FDA) on Friday on permitting the use of CBS (cannabidiol), one of the active substances in the cannabis plant.
Contrary to market expectations, it appears that the testimony at the hearing does not for the time being support full approval of CBD as a freely consumable food product or food additive, but rather supports leaving it under restrictive FDA supervision. Nevertheless, this is only the start of the proceeding, and the last word has yet to be said.
The negative news depressed cannabis-related stocks in the US and Canada, and stocks in Israel, among them Intercure, Herodium, Amir Marketing and Investments in Agriculture, Medical Compression System, Whitesmoke, Cannabit, Univo Pharmaceuticals, and Together Pharma.
“It’s not certain that the non-approval of CBD for free use is bad news for the Israeli cannabis market,” says Dr. Orna Dreazin, CEO of