These 10 Athletes Will Give CBD Stocks a Jolt in 2020

You can't turn on your TV or computer without finding a new professional athlete extolling the benefits of CBD these days. It's a flashing sign of just how big this industry will become.

In fact, the National Institute for Cannabis Investors (NICI) predicts the CBD market will be worth roughly $20 billion by 2024.

"CBD" is an abbreviation for cannabidiol. It's derived from hemp, but it doesn't have the psychoactive effects of marijuana that make users "high."

However, it does have multiple medical benefits. It's known for reducing pain, lowering blood pressure, helping anxiety and depression, and even reducing inflammation.

No wonder so many professional athletes are turning to CBD to alleviate the physical (and mental) symptoms of performing at the world's highest levels.

In fact, the sports recovery market is growing too. It's expected to hit $9.1 billion by 2024. That's a 38% jump from 2019, according to MarketsandMarkets.

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So the top CBD stocks - and the athletes who endorse their products - are actually at the convergence of two massive growth trends.

Here are the 10 professional athletes I'm keeping the closest eye on in 2020.

CBD Stocks Could Soar Thanks to These 10 Athletes

No. 10 - Professional Surfer Nathan Florence

Professional big-wave surfer Nathan Florence has teamed up with cbdMD Inc. (NYSE: YCBD) to promote the company's line of CBD products.

Florence is a proponent of CBD for its sleep benefits. Despite his active schedule, Florence still has trouble getting a full night's sleep. CBD has reportedly helped Florence get the rest he needs to perform at the highest level.

No. 9 - Professional Skateboarder Ryan Sheckler

The 30-year-old professional skateboarder is another athlete who has joined up with cbdMD. Sheckler says he uses CBD daily to help him relax and recover from the various injuries he's sustained over his career.

For Sheckler, CBD is a much better alternative than taking painkillers.

No. 8 - Former Olympian Lolo Jones

Olympic hurdler Lolo Jones began using CBD once the World Anti-Doping Agency removed the product from its banned substance list in 2018.

"I have done a ton of research on this, and I have tried out different ones," Jones told Yahoo Finance, "because I'm a 37-year-old Olympian. I need all the help I can get. When I wake up in the morning, I feel like an 80-year-old sometimes. I've aged in dog years."

No. 7 - Professional Volleyball Player Kerri Walsh Jennings

Kerri Walsh Jennings is one of the most recognizable U.S. Olympians of the past 20 years. Like Florence, Walsh Jennings also extols CBD for its help with sleep.

She announced a partnership with cbdMD in July 2019, along with Lolo Jones.

No. 6 - Professional Golfer Bubba Watson

In May 2019, professional golfer Bubba Watson began publicly endorsing cbdMD's products as well. He claims CBD has helped him prevent injuries while on the golf course.

"I see Phil Mickelson winning at 48, so I've got at least eight more years of having a shot of winning some tournaments," Watson told CNN. "So for me it was about how I create longevity in the game of golf and spending time with my kids running around. CBD was easily a fit for me."

No. 5 - Former MLB All-Star David Wells

David Wells is known for his 21-year career in Major League Baseball, as well as winning the World Series with two different teams.

Wells told The PostGame in 2016 that he had been on painkillers like Percocet about 75% to 80% of the time during the last eight years of his career. But with the help of CBD, Wells told reporters he completely ended his dependence on painkillers.

No. 4 - Former NBA All-Star Paul Pierce

In June 2019, former NBA All-Star Paul Pierce announced he was launching his own line of CBD products called The Truth CBD Remedies.

"I'm passionate about making sure athletes have support before, during, and after the main event," Pierce said in a press release.

In 2000, Pierce was the victim of a nightclub stabbing that threatened his life. The incident left him with depression, anxiety, and PTSD. Pierce says the use of CBD has helped manage his symptoms.