CbdMD To Donate Up To $500K From Sales To Portnoy's Barstool Fund

CbdMD Inc. YCBD agreed to donate up to $500,000 from its online sales to The Barstool Fund, an initiative set up by Barstool Sports Founder Dave Portnoy to provide financial aid to small businesses.

What Happened: “As fellow entrepreneurs and small business owners, we know firsthand how difficult the COVID-19 pandemic has been for so many small business owners here in America," CbdMD co-CEO Marty Sumichrast said, praising Portnoy for helping businesses during "this time of need."

"Small businesses are the backbone of the American economy," Sumichrast said. "It’s good for America when small businesses thrive, and we urge other business owners to help however you can, as soon as you can."

For the month of February, any topical purchased via CbdMD.com — using the code BARSTOOLFUND — will receive a 25% discount. CbdMD pledges to match the 25% discount in a cash donation to The Barstool Fund, up to $500,000.

See Also: Michigan Cannabis Business Donates $420,420 To Barstool Fund Through Sports Betting Match Promotion

Why It's Important: "This way, not only do our customers win, but so do small businesses that The Barstool Fund will aid,” Sumichrast added.

CbdMD isn't the only contributor to The Barstool Fund in recent weeks. Billionaire investor Chamath Palihapitiya, who helped drive up the stock of GameStop GME amid last week's short-selling drama, says he will donate his initial investment and profits to The Barstool Fund.

The Barstool Fund has made contributions to small-town restaurants and bars, including Café Fresco in Harrisburg, Pennsylvania and Breen's Cafe in Worcester, Massachusetts.

At publication time, the fund has raised over $33 million supporting 213 businesses.

Posted In: Barstool FundBarstool Sportscannabis industrycannabis salesCoronavirusCovid-19Dave PortnoyCannabisPenny StocksSmall BusinessMarkets

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.