Alkaline Water Co. (WTER) CEO Richard Wright was in New York to sit down with TheStreet after ringing the opening bell at the Nasdaq.

Wright's company is one of the leaders of the bottled alkaline water segment, but the company's future lies in the CBD-infused drink market, according to Wright and investors watching the stock. 

Alkaline Water put out a press release shortly after the U.S. approved the latest farm bill, which legalized the use of hemp and products derived from the plant, praising the decision as it now allows the company to move into the CBD-infused drink segment. 

Wall Street also responded to the news positively, sending the company's stock skyrocketing above $5 per share. While there has been a pullback and the stock in now trading in the mid $3 range, there is still optimism inside the company about the opportunity to infuse its market leading alkaline drinks with a kick of CBD. 

Richard Wright tells TheStreet about how he has positioned his company to take advantage of this new regulatory development and what the future holds for his company.