In two completely opposing reactions to cannabis and its by-products, Thailand has legalized cannabis for medical usage, while Hong Kong is planning to shut the door on CBD products from being sold in the country.
First the good news. Thailand has officially decriminalized marijuana for medical usage. It is the first Asian country to allow the growing and possession of cannabis strictly for medicinal purposes. Recreational usage is still strictly prohibited and can be penalized by a substantial fine and even three-months in prison. Still, it is a step in the right direction for a region that remains one of the strictest in the world when it comes to drugs of any kind.
This is illustrated by Hong Kong’s plan to eliminate CBD products from its country. CBD can be extracted from cannabis without any of the psychoactive properties that come with THC. While CBD products are currently legal in Hong Kong, a study shows that a large number of these have shown to have trace amounts of THC in them. This means the CBD extraction was not pure.
Investors have long awaited cannabis stocks to boom again and judging from how other countries perceive the drug, they might be waiting for a while. CBD stocks have a potentially higher floor due to a wider acceptance despite what the Hong Kong ban shows. Stocks like Endexx (OTC:EDXC), Charlotte’s Web (OTC:CWBHF), Cronos Group (NASDAQ:CRON), and Jazz Pharmaceuticals (NASDAQ:JAZZ) all offer CBD products with zero traces of THC.
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$EDXC – Endexx Corp
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