Walmart Inc. (NYSE: WMT) has rarely wavered from founder Sam Walton's gospel of Christian free enterprise or his conservatism.
So it should come as no surprise that, over the years, the world's largest retailer has taken stands against medical marijuana laws, sometimes refusing to cover employees' legal cannabis prescriptions.
So the most recent news coming out of Bentonville, Ark., was a bit shocking.
Earlier this week, Walmart's Canadian division said it's exploring the possibility of selling cannabis-infused products in its stores.
While various global beverage and tobacco giants have been showing interest in the legal cannabis market, Walmart is the first big retailer do so – and probably the most surprising choice possible.
What's next? Cannabis grow kits at Hobby Lobby? Marijuana-infused nuggets at Chick-fil-A?
Even more jaw-dropping is that this, technically, isn't Walmart's first foray into pot.
Earlier this year, it greenlit the sale of American Cannabis Co. Inc. (OTC: AMMJ) soil mix via its online store. While this is a far cry from stocking Walmart shelves with buds and edibles, it was a big step into the cannabis market for the traditionally conservative retailer.
Now, Walmart doesn't want to anger conservative customers. That's why you won't be able to buy your bud from the retailer – in Canada or here at home – maybe ever.
Instead, Walmart Canada is looking into cannabidiol, or CBD.
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CBD is a non-psychoactive but beneficial agent in marijuana. One CBD drug – a childhood epilepsy treatment from GW Pharmaceuticals Plc. (Nasdaq: GWPH) – just got reclassified as a Schedule V drug in the United States, on par with cough syrup.
About the Author
Michael A. Robinson is Defense and Tech Specialist for Money Map Press. He is a 36-year Silicon Valley veteran and one of the top technology financial analysts working today. That's because, as a consultant, senior adviser, and board member for Silicon Valley venture capital firms, Michael enjoys privileged access to pioneering CEOs, scientists, and high-profile players. And he brings this entire world of Silicon Valley "insiders" right to you...
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