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Canopy Growth Launches Martha Stewart CBD Line

By Eric Volkman – Sep 11, 2020 at 4:34PM

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Initially, the line consists of four products containing the popular substance.

One of America's top lifestyle gurus has taken the plunge into marijuana-related goods. Canopy Growth (CGC 6.16%) announced in a press release that it has launched Martha Stewart CBD, a new line of comestibles infused with cannabidiol (CBD).

Martha Stewart CBD initially consists of four products. Two are "Wellness Gummies," in either citrus or berry flavors. The line also features softgels and oil drops, the latter available in blood orange, Meyer lemon, or unflavored varieties. The gummies retail for $34.99 for a 30-count container, while the softgels (again, a 30-count container) and oil drops (750 milligrams) cost $44.99. 

Two jars of Martha Stewart CBD gummies.

Image source: Getty Images.

All products are available online at Canopy Growth's dedicated CBD e-store for the U.S. market, The company said more Martha Stewart CBD goods would be launched in the future, specifically mentioning CBD treats for pets.

CBD is derived from hemp, a plant that is related to marijuana but contains far less tetrahydrocannabinol (THC), the substance that gets users high. CBD is reputed to have medicinal properties.

Stewart, who became an advisor to Canopy Growth last year, was quoted in the press release as saying that "I've found that CBD supplements are a simple way to enhance my own health and wellness, especially when it comes to managing the stresses of daily life."

"I set out to create the most delicious CBD products on the market, drawing inspiration from some of my favorite recipes and flavor profiles from my greenhouse and gardens," she added.

Neither Canopy Growth nor Stewart has specified the financial terms of their CBD collaboration. 

On Friday, Canopy Growth's shares dipped by 1.5%, contrasting with the modest gains posted by the broader stock market.

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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