Lifeway Foods Says It Plans To Enter Cannabis Market With CBD Drinkables
Lifeway Foods, Inc. (NASDAQ:LWAY) shares traded sharply higher Thursday after the company announced it will enter the cannabidiol space with CBD drinkables — if and when they are legalized at the federal level.
Cannabidiol is one of some 113 identified cannabinoids in cannabis plants and accounts for up to 40% of the plant's extract.
Lifeway Foods said it plans to enter the $10-billion cannabis market through Plantiful + CBD, a cannabidiol-infused version of Lifeway’s probiotic plant-based beverage.
The stock was up 29.02% at $3.73 at the time of publication Thursday.
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