Back in October 2018, the Canadian division of Walmart said that it was exploring the idea of selling cannabis-based products on their shelves, sending shares of Walmart Inc. (NYSE:WMT) up roughly 3% despite no concrete plans to do so anytime soon.
A few months later in the U.S., the Agriculture Improvement Act of 2018, a.k.a. the Farm Bill was passed. This made a legal distinction between cannabis and hemp and defined hemp as “any part of the Cannabis sativa L plant, including all derivatives and extracts such as cannabidiol (CBD), provided that the plant contains less than 0.3% tetrahydrocannabinol (THC).”
Fast forward to today, and you can buy CBD supplements on Walmart.com, buy CBD beauty products on Ulta.com, and it’s rapidly spreading across the country in retailers ranging from Neiman Marcus and Sephora to CVS and Walgreens.
CBD at Walmart
It is worth noting that all of the CBD products available through Walmart are sold and shipped by discount vitamin seller VitaSprings, which also sells a wide variety of other vitamins and nutritional supplements through the Walmart Marketplace.
Chances are, it will be a little while before Walmart itself begins selling CBD. That said, there seems to be another major retailer going green every day. After all, shares of Walgreens Boots Alliance Inc. (NASDAQ:WBA) are already up and it has been one hour since the news broke.
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