Aurora Cannabis is rocketing this morning on news it struck a deal to enter the U.S. cannabis market after buying CBD company, Reliva. “It’s immediate access into the world’s largest cannabinoid market,” Aurora Executive Chairman and interim CEO Michael Singer, as quoted by CNBC. “I think the Reliva acquisition is a responsible strategic entry into the U.S. market; and for Aurora, delivers a key aspect of our reset plan.”
CBD is still wildly popular.
In fact, it’s becoming tough to ignore the CBD investment boom.
For one, major retailers are rushing to stock shelves with CBD product to keep up with demand.
Neiman Marcus, Sephora, Vitamin Shoppe, Kroger, Barney’s DSW, Sephora, CVS, American Eagle, and Walgreen’s have all jumped at the opportunity. Dick’s Sporting Goods announced a deal to sell CBD products in its stores nationwide. Even Dollar General just announced it would sell CBD products thanks to consumer demand.
All as consumers around the world wake up to the health benefits of cannabis, including the treatment of insomnia, stress, anxiety, pain, and even chronic issues. Two, 14% of Americans now use CBD products, according to a Gallup poll, as demand explodes. Three, by 2024, CBD sales could surpass to $10 billion.
“The recent surge of consumer demand for CBD, coupled with increasingly easy access to CBD products, is expected to drive retail sales to about $1.1 billion-$1.3 billion in 2019,” said Kristen Nichols, editor of the 2nd Annual Hemp & CBD Industry Factbook. “We project retail CBD sales will increase to $10.3 billion by 2024, a five-year compound annual growth rate of 54%.”