The Pot Stocks Are Soaring Again After a CBD-Based Drug Took a Step Closer to Commercial Launch

Marijuana stocks ripped higher Thursday after the U.S. Drug Enforcement Administration classified a cannabidiol-based drug made by GW Pharmaceuticals in its least restrictive category, setting the stage for commercial launch.

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Morgan Stanley: DEA Likely To Reclassify GW Pharma’s Cannabinoid Therapy For US Launch

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By Sunday night, the U.S. Drug Enforcement Administration is expected to reclassify GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH)’s Epidiolex to allow medicinal use. This could open the therapy to a new and promising market.

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California Bans Hemp-Derived CBD Oil

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California health authorities dealt a blow to the burgeoning CBD industry by banning preparations of CBD derived from industrial hemp rather than psychoactive cannabis. The decree adds to the legal confusion around the cannabinoid and highlights the need for greater clarity from authorities at both the state and federal level.

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Legal Barriers Will Not Stop CBD Oil in Texas

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Everything is bigger in Texas, including the potential of the CBD oil market. In fact, CBD is one of the most popular new extracts in the state, with Dallas-Fort Worth the latest city to experience a surge in stores selling CBD oil.

CBD American Shaman is one of many CBD companies who is setting their sights on the heart of Texas. They already operate six stores across the state, one of which is in Dallas. They plan to open another thirty stores over the next ninety days, all selling CBD oil, including one in Austin and Houston.

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