Marijuana Business News

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Tue
24
Nov

Maine’s First Month Of Legal Marijuana Sales Total $1.4M

Licensed cannabis retailers in Maine sold more than $1.4 million worth of marijuana products during the first month of legal recreational pot sales, according to data released by state regulators on Monday. Legal sales of adult-use cannabis began on October 9, nearly four years after voters approved recreational marijuana sales for adults in 2016.

Tue
24
Nov

2 U.S Marijuana Stocks To Watch Before Thanksgiving

Will The U.S. Cannabis Industry Continue Its Growth?

Tue
24
Nov

California’s New Cannabis Terroir Laws Protects Its Best Outdoor Strains

Outdoor growers in California’s most iconic cannabis cultivation zones received major support when Governor Gavin Newsom signed Senate Bill 67 into law on September 29, 2020.

Tue
24
Nov

USDA Green Lights Hemp Trade With $200,000 in Funding

The USDA recently approved funding for the National Industrial Hemp Council ($200,000) through the Market Access Program (MAP) of its Foreign Agricultural Service. Namely, the funding is aimed at supporting the hemp export market for the US.

Mon
23
Nov

What You Need To Know About Investing In Marijuana With A Biden-Harris Win

Stash of money and arrow pointing upward

 

Industry insiders believe Democrat-held Congress would likely take up the SAFE Banking and MORE Acts, generating long-term market effects.

Despite ongoing attempts by the Trump Administration to delay the transition, President-elect Joe Biden and Vice President-elect Kamala Harris are expected to take power on January 20, 2021, creating an impact on the cannabis stock market that could be substantial. 

Mon
23
Nov

Latin America could be next hotspot for cannabis industry despite pandemic

man holding marijuana leaves

 

Despite the coronavirus pandemic, new legislation and business partnerships have Latin America on the verge of a cannabis boom, according to a new report.

The report from Prohibition Partners, a market research firm studying the cannabis industry, looked at recent investments and laws to keep marijuana more accessible in the region.

Recent steps towards wider decriminalization from Paraguay, Ecuador and Argentina, among others, have opened the doors for further investment in the region pertaining to marijuana.

Earlier this month, Argentina allowed people to grow cannabis at home and for people to take it medicinally if they are uninsured.

Mon
23
Nov

Northern California cannabis industry banking on legalization bills stalled in Congress

Man with package

 

In an industry driven by greenbacks, cannabis business stakeholders and supporters are banking on two pending federal bills and one new state law that would allow them access to traditional financial accounts without having to look over their shoulders.

Because even with 33 states now making cannabis legal, the federal government does not, leaving many banks heavily regulated by the U.S. government, on the sidelines. This is despite companies at least in the Golden State paying taxes to both the state and the federal governments, while also staying open as an essential business during the COVID-19 crisis. Many in the industry call the double standard a hypocrisy.

Mon
23
Nov

Can the Hemp Business Survive?

Man with marijuana display in store

 

Soaps, deodorant, beard oil, pain relievers, lotion, hand sanitizer and an anti-anxiety tincture for pets.

The array of products Grant McCabe creates using oil extracted from hemp he grows on a Marlboro farm to sell in his Beacon shop, The Leaf, could soon have an imprimatur: New York-certified.

Last month, the state Department of Health unveiled proposed regulations governing how the plant is processed to extract cannabidiol oil (CBD) and other cannabinoid substances from its leaves and flowers. The proposals would set standards for products sold by retailers, including food and drinks.

But the regulations also would ban the sale of the smokable flower, or bud, of the plant, which retailers say is where they make most of their profits.

Mon
23
Nov

The Pandemic Creates an E-commerce Business Where There Was None

Marijuana Plants

 

As we all know by now, the COVID-19 pandemic created a massive shift in the way consumers spend money. Specifically, it caused a massive increase in e-commerce sales and an equally drastic decrease in sales at brick-and-mortar locations. 

This changing dynamic affected every industry‚ÄĒfrom retail to consumer goods¬†to groceries‚ÄĒbut the way it affected cannabis is unique.¬†

The cannabis industry, unlike most other industries, had a virtually non-existent e-commerce presence prior to 2020. This was by design. Regulations made it illegal to buy cannabis any other way besides physically going to a dispensary, and impractical for businesses to get ahead of the curve. 

Fri
20
Nov

Rhode Island Considers Legalization to Solve Budget Crisis

marijuana leaf on money

 

Will Rhode Island be the next state to legalize cannabis?

Many liberal, New England states have turned to recreational or medical cannabis to bring in some extra revenue, and now, in light of the budget deficit in the state, Rhode Island is talking about legalization as well.  

Currently, the state is projecting a possible $114.4 million deficit in the state’s economy, and analysts are getting worried. In response to that, a Senate Finance Committee in the state is considering Democrat Gina Raimondo’s proposal to allow the sale of cannabis legally within state borders. 

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