Despite the controversy over Delta-8, sales are beating some popular CBD companies. Hemp Benchmarks has been following the price of Delta-8 within the hemp industry and recently highlighted the company LFTD Partners (OTC: LSFP), whose sales rival many established CBD companies.
CBD Fever Dreams
When the Farm Bill was passed in 2018, there were high hopes for the CBD industry and in particular for the hemp farmers. Hundreds of acres were grown, but the huge demand for CBD never materialized. There was demand, to be sure, but not at the levels the market had anticipated. This resulted in a glut of CBD biomass in the market and prices plunged. Farmers plowed over crops instead of harvesting due to the cost and many dramatically reduced the acres of hemp they were growing.
Then Delta-8 came along and the farmers began to find a new market for their crops. It was discovered that within the language of the Farm Bill, only Delta-9 cannabis was carved out as an adult-use THC product, leaving Delta-8 in a grey area. Delta-8 is often referred to as cannabis light in that the psychoactive response is milder than Delta 9 cannabis. It is also extracted from hemp as opposed to the regular cannabis that produces the typical THC product. This loophole caught many off guard and with little regulation or oversight, the product began to take off.
Several states have banned the product from being sold due to the lack of oversight. The cannabis industry seems mixed on whether it supports the product or not. Some are happy that it has helped out hemp farmers, while others see it as competition that isn’t subject to the same onerous regulations. In addition to that, the FDA noted that it has received several troubling reports on Delta-8. Seeing a Delta-8 company beat a highly regulated CBD company in revenue has got to hurt.
LFTD Partners also known as Lifted Made, manufactures and sells branded products containing hemp-derived cannabinoids (e.g. delta-8-THC, delta-9-THC, delta-10-THC, THCV, THCO, CBDA, CBC, CBG, CBN, CBD), e-liquid, disposable nicotine vapes, kratom and kava products. In February 2020, LSFP acquired 100% of Warrender Enterprise Inc. d/b/a Lifted Made (formerly d/b/a Lifted Liquids). It recently announced that it was expanding its operations for the fourth time during the last 18 months, leasing an additional 8,000 square feet in a third building in Kenosha, WI. LSFP has also signed a letter of intent to acquire Savage Enterprises, owner of award-winning hemp-derived products …….