Martha Stewart on investing in Canopy Growth: 'It's an alternative to opioids’

Lifestyle guru and businesswoman Martha Stewart believes that cannabis and cannabinol (CBD) products are an “alternative to opioids,” which is why she invested in Canadian cannabis company Canopy Growth (CGC).

“Well, it's the modern thing, and it's an alternative to opioids of course,” the founder of Martha Stewart Living Omnimedia told Create & Cultivate Founder Jaclyn Johnson recently. “That's what it's being hailed as, and if anything can help with that crisis, that would be good. We still are doing a tremendous amount of research in the cannabis industry.”

BROOKLYN, NEW YORK - MAY 04:  Jaclyn Johnson and Martha Stewart attend Create & Cultivate New York presented by Mastercard at Industry City on May 04, 2019 in Brooklyn, New York. (Photo by Ilya S. Savenok/Getty Images for Create & Cultivate)

The U.S. opioid crisis has escalated to a public health emergency in recent years. The CBD market overall is expected to reach $20 billion in the United States by 2024, according to BDS Analytics and Arcview Market Research.

Stewart added that while the jury was still out on whether CBD products are really effective or if they are “as good as we all think it is,” the potential to relieve stress in animals is something she’s holding out hope for.

Martha Stewart in the 1970s and '80s
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Martha Stewart in the 1970s and '80s
My assistant found this great photo of me in my library at turkey hill Wish it was taken last month !!!photo by Henry wolf
Caterer Martha Stewart outside in backyard with her pet persian cat perched on her shoulder. (Photo by Arthur Schatz/The LIFE Images Collection/Getty Images)
Homemaking maven Martha Stewart placing flowers atop beautifully decorated cake in dining room at home. (Photo by Evelyn Floret/The LIFE Images Collection/Getty Images)
American businesswoman Martha Stewart carries a basket of eggs as she leans against a wheelbarrow on the grounds of her home, Westport, Connecticut, August 1976. (Photo by Susuan Wood/Getty Images)
American media mogul and businesswoman Martha Stewart exits a chicken coop with a basket of eggs, August 1976. (Photo by Susan Wood/Getty Images)
Homemaking maven Martha Stewart & publisher husband Andy posing in garden outside their farmhouse. (Photo by Evelyn Floret/The LIFE Images Collection/Getty Images)
Gourmet/writer Martha Stewart (c) stands behind a table full of her creations, surrounded by students at one of her seminars on entertaining. (Photo by John Dominis/The LIFE Images Collection/Getty Images)
HOLLYWOOD, CA - 1989: Homemaking diva and magazine publisher Martha Stewart attends a 1989 Hollywood, California, movie premiere. (Photo by George Rose/Getty Images)
Martha Stewart during 'Let Them Eat Cake' The National Pastry Competition's - July 16, 1990 at Plaza Hotel in New York City, New York, United States. (Photo by Ron Galella/WireImage)

“I have a lot of animals, and I would love to be able to relieve stress or arthritis or other kinds of problems that my horses, my dogs, my cats experience,” Stewart said. “We’re working on that first, and we’re working on additions to human food stuffs, and also on cosmetics.”

While the CBD pet market in particular isn’t as massive, it’s still significant: In 2017, sales of cannabis products specifically marketed for pets netted nearly $7 million in California, Colorado, Oregon and Washington.

Snoop Dogg, left, and Martha Stewart pose in the press room at the MTV Movie and TV Awards at the Shrine Auditorium on Sunday, May 7, 2017, in Los Angeles. (Photo by Richard Shotwell/Invision/AP)

Snoop is ‘a lot of fun to work with’

Stewart also talked about her friendship with famed hip hop artist Snoop Dogg — who is also invested in Canopy — and said that “he’s a lot of fun to work with.”

“Snoop and I became friends on my show,” explained Stewart. She first invited him on The Martha Stewart show back in 2008, and they both became friends over “a creamy bowl of spuds and a few words that Martha had yet to learn,” according to her website. He made a return to her show a few years later.

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