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Pepsi Stock Drops After They Say No to CBD

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Earlier this week, stock in Pepsi rose after their CFO Hugh Johnson hinted in an interview on CNBC that the soda giant would “look critically” at getting in the CBD business. Johnson gave an interview early Tuesday on CNBC’s “Squawk on the Street” in which he hinted that Pepsi might make a CBD infused beverage of their own. “I think we’ll look at it critically, but I’m not prepared to share any plans that we may have in the space right now,” he said.

Somehow this translated to Pepsi is planning on making a CBD beverage of their own, which led to a stock jump. Later on that day Johnson clarified saying that the company had “no plans to invest in cannabis,” according to Bloomberg. It was then that the company’s stock began to slide. Perhaps you should have stuck to the first story Pepsi?

Cannabis is of course still illegal in the US, but will be legal in Canada in just a couple weeks. The DEA announced last week that FDA approved CBD compounds would be removed from Schedule I, so there’s really nothing for them to lose, so long as they can get their drink approved by the FDA, which they probably could. C’mon Pepsi, it’s the wave of the future!

Source: Bloomberg

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Should Pepsi make a CBD beverage? Would you drink it? Tell us in the comments!