With lower prices, CBD can become a true alternative to Big Pharma, and cannabis can become a plant for the people.
The last two years haven’t been great for the CBD industry. The pandemic cratered in-store sales of CBD. Meanwhile, by choosing not to regulate CBD, the FDA left it in a legal gray area, limiting where it can be sold.
If you need evidence of the industry’s decline, just look at Charlotte’s Web, the largest CBD company. In mid-2019, the company’s stock price was flying high at nearly $22. Since then, it’s fallen to just over $1 — a 95% decline.
I believe there’s a way out of this mess, but most companies aren’t prepared, or willing, to see it. Let’s revisit the history of the industry to see why.