Martha Stewart is bringing her brand cache to cannabis. The lifestyle empress is partnering with Canopy Growth ($CGC), the Canadian pot grower and distributor, to help develop CBD and hemp-infused products for humans and animals, the company announced in a statement.
The partnership marks another step in the mainstreaming of marijuana, which is now legal for recreational use in Canada, where Canopy is based, and in a handful of U.S. states. CBD, the non-psychoactive cannabanoid, got a boost in the U.S. when President Trump signed the Farm Bill, legalizing hemp.
Stewart said in a statement that she is "delighted to establish this partnership with Canopy Growth and share with them the knowledge I have gained after years of experience in the subject of living."
Canopy said Stewart will first work on a line of CBD-infused products for pets. The company is currently in clinical trials on cannabis compounds meant to treat anxiety in animals.
Stewart will be in good company. Canopy, through a subsidiary, already has a partnership with Snoop Dogg who co-hosts a cooking show with Stewart on VH1.
By lending her name to Canopy's brand, Stewart is helping to further legitimize a red-hot industry that still faces hurdles in widespread acceptance in the U.S.
“As soon as you hear the name Martha, you know exactly who we’re talking about,” Canopy CEO Bruce Linton said in a statement.
Marijuana remains a schedule 1 drug at the federal level, though legalization at the state level continues to spread. Public sentiment has also changed: six in 10 Americans now say pot should be legalized for recreational use, according to Pew.
Apple has rolled out an update to its operating system this week with a feature called Stolen Device Protection. It makes it a lot harder for phone thieves to access key functions and settings, and users are being urged to turn it on immediately.
The U.S. economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and frustrating price levels.
Alan Becker, CEO and Investment Adviser Representative at Retirement Solutions Group and RSG Investments, shares his thoughts on the latest GDP data plus why he's not sold cryptocurrency as a long-term asset.
The Biden administration wants to ban another type of bank “junk fee," targeting fees that are typically charged by banks when a transaction is declined in real time.
Al Root, senior writer at Barron’s, breaks down everything expected from Tesla’s earnings report, from Elon Musk’s demands from the board to why the market has been looking for affordable EV options.
Online retailer eBay Inc. will cut about 1,000 jobs, or an estimated 9% of its full-time workforce. The announcement follows similar moves by other tech companies that ramped up hiring during the pandemic while people spent more time and money online.
