NEW YORK (TheStreet) -- Shares of GW Pharma (GWPH) are up nearly 7% Tuesday after announcing positive data for its experimental cannabis drug

This is one of the few quality ways to play the cannabis treatment theme, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash." 

Because the company is located in the U.K., it is able to work on these types of treatments, he explained. Originally the drug was used for treating epilepsy but has also shown very positive results in treating schizophrenia. That's why the stock is rallying so much on Tuesday. 

KMB Chart
GW Pharma GWPH and Kimberly-Clark KMB data by YCharts

As for the U.S.' own Kimberly-Clark (KMB - Get Report), Cramer said that when a high-quality consumer stock with a 3.5% dividend yield sells off by 10%, then it typically becomes a buy. 

However, now is not the time to buy consumer stocks because the Federal Reserve's rate hike decision is just days away. So this is simply a stock to watch, not own, he said. 

If interest rates do go up, high-paying dividend stocks like Kimberly-Clark could go lower. Even though the rate increase would likely only be 25 basis points, Cramer explained he does not want to fight the algorithmic trading that could take place after the announcement.

 

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.