Marijuana Business News

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Fri
17
Sep

More Cannabis Dispensaries Coming Soon: Ohio Expands Medical Cannabis Cultivation Amid Shortages

bridge in ohio

Ohio's medical marijuana cultivators who have complied with rules and regulations can now request permission to expand their grow space, the Ohio Department of Commerce announced Wednesday.

The expansion process comes as the Buckeye State plans to more than double the number of its dispensaries after a cultivator, Fire Rock Ltd., sued the state for failing to act on its February 2020 request to expand.

"This decision comes after a review of multiple program metrics, including patient program participation and the Board of Pharmacy’s impending request for new dispensary license applications," a Commerce Department spokesperson told the Cincinnati Enquirer.

Fri
17
Sep

4 Quick Tricks for Picking Winning Cannabis Stocks

stock market graphic

Investing in cannabis stocks can be like looking for a goose that lays golden eggs -- but finding only lemons much of the time. Between the ever-present hype about questionable companies and the industry's struggles with efficiency, even savvy buyers can make mistakes; I know I've made a few! 

The good news is that becoming a wiser investor is easier than it may seem. And today, I'll be sharing four of my best tricks for identifying the best marijuana stocks so that you'll be equipped to succeed.

Thu
16
Sep

Hemp Fiber and Grain to generate $32B impact by 2030

hemp seeds

In response to a request from the Domestic Policy Office in the White House, the National Hemp Association released an economic impact report titled, ‚ÄúBuilding the Sustainable Hemp Industry in the United States.‚Ä̬†

The report was presented to the White House last week and outlines a pathway to establish a new sustainable economy around hemp fiber and grain with a projected $32B impact by 2030.

Thu
16
Sep

This Upcoming Marijuana Merger Could Generate Great Returns for Investors

man with laptop

Consolidation in the cannabis industry is inevitable. As long as marijuana remains federally illegal in the U.S. and cannabis companies need to expand via acquisition to penetrate more states, marijuana businesses will continue to join forces. One deal that investors will want to pay close attention to right now involves cannabis producer TerrAscend's (OTC:TRSSF) acquisition of Gage Growth (OTC:GAEG.F), a Michigan-based marijuana company.

The two businesses announced the deal on Sept. 1, and the combined entity could become one of the top multistate operators in the country. Here's why you should consider putting TerrAscend's stock in your portfolio in light of this news.

Thu
16
Sep

Flower power: Richmond cannabis dispensary is selling dried buds

cannabis bud and cigarette

After months of only being able to sell oil-based cannabis products like edibles and vape cartridges, the Richmond region’s only licensed dispensary can now sell a more traditional form of marijuana.

Green Leaf Medical (stylized gLeaf) kicked off sales of smokable marijuana, both dry whole flower (also called bud) and pre-rolled joints, at its South Richmond dispensary last week.

Adult use of smokable marijuana was legalized in Virginia in July, which paved the way for Green Leaf to expand its offerings. The company already sold its smokable marijuana in Maryland, Pennsylvania and Ohio, where it also operates.

Thu
16
Sep

Hemprise Bets on Federal Regulation of CBD with Construction of 100,000-Square-Foot Hemp Processing Facility

Hemp facility

Hemprise launched in 2019 with the purchase of 25 acres of land in southern Indiana that will eventually house what the company claims will be one of the largest hemp processing facilities in the U.S. with 100,000 square feet of processing space when completed. (Photo courtesy of Hemprise)

The company is completing phase I of the buildout, which consists of a 10,000-square-foot workshop on about half of the property located in Jeffersonville. Hemprise plans to launch phase II of construction when cannabidiol (CBD) is a federally regulated ingredient for food, beverages and dietary supplements, according to Zheng Yang, the company’s general manager.

Thu
16
Sep

3 Things to Watch For When Aurora Cannabis Reports Earnings This Month

After the markets close Sept. 21, Aurora Cannabis (NASDAQ:ACB) will release results for its fiscal fourth quarter, which ended June 30. The troubled Canadian pot company's stock is already down by about 20% year to date -- a sharp contrast to the sector benchmark Horizons Marijuana Life Sciences ETF, which is up 5% -- and the upcoming report could be pivotal in determining whether the share price gets out of the red for 2021. Investors aren't expecting to see Aurora turn a profit in the final quarter of its fiscal year, but there are other ways that the company can show it is making progress. Here are the three main areas you should keep a close eye on when the company reports next week.

Wed
15
Sep

The Cannabis Industry Is Booming; Is This Supplier a Buy?

marijuana leaf

Few investors are unaware by now of the booming cannabis market. The drug is federally legal in Canada and in many U.S. states, and it looks to be on a path toward federal legalization in the U.S. This commercialization of cannabis has led to a boom in growing the plant across North America. One industry that has benefited from this is hydroponics, which is when someone grows a plant without soil. Many cannabis growers utilize this growing method.

GrowGeneration (NASDAQ:GRWG) is a fast-growing hydroponics supplier that is benefiting from this surge in popularity for cannabis. Does that make the stock a buy?

Wed
15
Sep

License regulations in Florida, Massachusetts could impact high-stakes medical marijuana acquisition

woman vaping

A company already drawing scrutiny in Florida for potentially holding a stake in multiple medical cannabis businesses drew similar interest from Massachusetts regulators. Now a high-priced acquisition could hinge on how Florida handles its own licensing rules.Purchases in both Florida and Massachusetts involve the hedge fund Gotham Green Partners. That business last year made a play to purchase most shares of iAnthus, another fund with a heavy stake in the industry. But that’s a deal iAnthus now wants nixed, with iAnthus suing Gotham last month in a Canadian court over details of the restructuring deal, according to the trade publication GreenMarketReport.

Tue
14
Sep

Resonate Blends to Acquire Wellness Cannabis Brand

man shaking hands

Resonate Blends Inc., a cannabis holding company in Calabasas, has signed a letter of intent to acquire Lemon and Grass, a Florida-based cannabis wellness brand.

Lemon and Grass sells products such as relief balms, patches and capsules as well as vape cartridges and PAX pods. The products will flank Resonate’s existing product line, Koan Cordials, a liquid made from cannabis and botanical extracts.

Lemon and Grass products are distributed to more than 40 dispensaries in Florida. The company also has had product trials in California and has licensing plans for multiple states across the country, as well as for provinces in Canada.

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