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Cannabis Summary for Sept. 3, 2020

2020-09-03 19:38 ET - Market Summary

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by Stockwatch Business Reporter

Amidst a significant broader market decline, the S&P/TSX Cannabis Index held firm, only losing 0.48 point to 127.31, while the Canadian Securities Exchange Composite Index fell 12.1 points to 453.89. United States-based cannabis gummy producer Plus Products Inc. (PLUS) gained three cents to 77 cents on 21,000 shares after launching a Plus Sleep brand of cannabis gummies into the California market. The company plans to offer two types of gummies with cannabinoids including THC, CBD and CBN, as well as melatonin. THC and CBD are the two most well-known and commonly used cannabinoids: THC is the part of the cannabis plant that makes you feel "high," while CBD (and CBN for that matter) is commonly used for medicinal purposes. To be clear, THC can be used for medical purposes as well but its more frequent use is recreational.

One of the types of gummy that Plus plans to offer has much more THC: each gummy will have five milligrams (mg) of THC, one mg of CBN and one mg of CBD. The second type will be the opposite, with just one mg of THC, two mg of CBN and three mg of CBD. Although research is still in the early stages, in an appearance on The Peter Attia Drive podcast last year, University of California Berkley sleep researcher Matthew Walker expressed excitement about the potential of CBD to help with sleep, but was less keen on THC. "I think CBD is more promising on the data right now. The data for CBD is that you get that benefit of falling asleep faster. You don't seem to get the hit on REM sleep (as is the case with prescription pills, alcohol and THC)," he told show host Peter Attia.

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