Originally posted to The Street 
By Tony Owusu
May 30, 2019 4:18 PM ED

 

Ben & Jerry’s Ice Cream wants to get  in on the cannabis business buzz.

The Unilever-owned (UL)   ice cream maker is throwing its support behind the federal legalization of CBD-infused food products, announcing in a statement Thursday that it will create a CBD-infused ice cream flavor should CBD products be legalized at the federal level.

The announcement comes ahead of Friday’s Food and Drug Administration public hearing on the legalization of CBD-infused foods and beverages. The company said that it has submitted a comment to the hearing in support of legalization. 

“We’re doing this for our fans,” said Ben & Jerry’s CEO Matthew McCarthy in the statement. “We’ve listened and brought them everything from Non-Dairy indulgences to on-the-go portions with our Pint Slices. We aspire to love our fans more than they love us and we want to give them what they’re looking for in a fun, Ben & Jerry’s way.”

The company said that it would use sustainably-sourced CBD from its home state of Vermont in any future CBD products.

Unilever shares rose 50 cents, or 0.82%, to end at $61.68 Thursday.

Cannabis related stocks were generally lower Thursday.

 

cbdMD shares (YCBD) rose 14 cents, or 2.23%, to $6.43.

 

Green Organic Dutchman shares (TGODF) fell 12.14 cents, or 4.19%, to $2.78.

 

The Alternative Harvest ETF (MJ – Get Report) fell 50.3 cents, or 1.55%, to $31.94.

 

The AdvisorShares Pure Cannabis ETF (YOLO) fell 14.01 cents, or 0.58%, to $24.22.

 

The Horizons Marijuana Life Sciences ETF (HMLSF) fell 14.8 cents, or 1.02%, to $14.32.

 

Large cap stocks with notable cannabis initiatives were mixed.

 

Shares of Anheuser-Busch InBev SA/NV Sponsored ADR (BUD) rose $1.08, or 1.33%, to $82.38. The company is in a joint venture with Tilray to develop cannabis beverages.

 

Shares of Molson Coors Brewing Company Class B (TAP – Get Report) fell 74.5 cents, or 1.34%, to $54.72. The company is working to develop beers infused with cannabis for the Canadian market.

 
Name Ticker Price % Chg
cbdMD (YCBD) 6.28 2.23%
General Cannabis (CANN) 1.47 2.04%
Corbus Pharmaceuticals (CRBP – Get Report) 7.22 0.84%
Greenlane Holdings (GNLN) 15.31 0.46%
New Age Beverages (NBEV – Get Report) 5.31 0.09%
Canopy Growth (CGC – Get Report) 43.02 -0.78%
Aphria (APHA) 6.94 -1.00%
Aurora Cannabis (ACB – Get Report) 8.09 -1.23%
Cronos Group (CRON – Get Report) 15.06 -2.10%
CannTrust Holdings (CTST) 5.61 -2.41%
GW Pharmaceuticals (GWPH) 177.34 -2.50%
Hexo (HEXO – Get Report) 6.84 -2.62%
Tilray (TLRY) 39.91 -4.06%
Tera Tech (TRTC) 0.70 -4.17%
Green Organic Dutchman (TGODF) 2.82 -4.19%

 

Read More at The Street

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