Ben & Jerry's Ice Cream wants to get in on the cannabis business buzz.
The Unilever-owned (UL) - Get Report ice cream maker is throwing its support behind the federal legalization of CBD-infused food products, announcing in a statement Thursday that it will create a CBD-infused ice cream flavor should CBD products be legalized at the federal level.
The announcement comes ahead of Friday's Food and Drug Administration public hearing on the legalization of CBD-infused foods and beverages. The company said that it has submitted a comment to the hearing in support of legalization.
"We're doing this for our fans," said Ben & Jerry's CEO Matthew McCarthy in the statement. "We've listened and brought them everything from Non-Dairy indulgences to on-the-go portions with our Pint Slices. We aspire to love our fans more than they love us and we want to give them what they're looking for in a fun, Ben & Jerry's way."
The company said that it would use sustainably-sourced CBD from its home state of Vermont in any future CBD products.
Unilever shares rose 50 cents, or 0.82%, to end at $61.68 Thursday.
Cannabis related stocks were generally lower Thursday.
Green Organic Dutchman shares (TGODF) fell 12.14 cents, or 4.19%, to $2.78.
The Horizons Marijuana Life Sciences ETF (HMLSF) fell 14.8 cents, or 1.02%, to $14.32.
Large cap stocks with notable cannabis initiatives were mixed.
New Age Beverages
Green Organic Dutchman