Marijuana Business News

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business
Mon
10
Aug

New reality series on cannabis entrepreneurship to premiere this month

This August 15, viewers on several major streaming services will have the opportunity to tune in to the premiere of the “first-ever cannabis business competition show” hosted by Advanced Nutrients founder and CEO, BigMike Straumietis. 

Shows involving cannabis have become increasingly popular in the U.S., according to data released earlier this year. Figures show that more than a million American households streamed marijuana content last year, up by 42% compared to 2018. 

Mon
10
Aug

Illinois' Adult Use Market Continues to Flourish

The adult-use cannabis market in Illinois is booming. Illinois has sold about $300 million worth of cannabis products since the adult-use market opened in January.  The state hit record-breaking sales once again in July and is expected to continue on an upwards curve as the market grows and stabilizes. 

Mon
10
Aug

Enforcement Alone Won’t End California’s Illicit Cannabis Market

So long as it is extremely difficult and expensive to start and run a licensed cannabis business, there will be people who opt for the illicit market.

It seems like every week, there’s a new announcement of state or local enforcement actions or raids of allegedly unlicensed cannabis operators in California. Some time ago, this would have been welcome news to many licensed cannabis businesses in the Golden State that pay large sums of money to get licensed while illicit market operators can offer cheaper, tax-free products to consumers at a huge competitive (though not legal) advantage. Nevertheless, it’s becoming clearer that nothing the state is doing is really changing the illicit market, and this offers little solace to the participants in the regulated market.

Mon
10
Aug

Difference Between A Marijuana Dispensary And A Liquor Store

What’s the difference between stepping inside a neighborhood weed store and retail outlets designed to cater to the alcohol consumer?

Back when cannabis advocates were first successfully moving to legalize marijuana for recreational use at the state level, one of the most popular phrases used to describe what that might look like is “in a manner similar to alcohol.” The gist of the pitch was that upon the legalization of marijuana, there would be a taxed and regulated market put into place — same as the alcohol trade — that would allow adults 21 and older to buy cannabis products close to the same way they might purchase beer at a liquor store.

Mon
10
Aug

2 Top Marijuana Stocks to Watch in August

Since the beginning of the year, the marijuana sector has underperformed dramatically. The effects of COVID-19, oversupply in Canada, and falling consumer spending are all leading investors to get out of weed stocks en masse, with little regard for long-term outlook.

However, the market has changed dramatically from even just a quarter ago. There are now 1,000 marijuana stores open in Canada, and a federal bill to legalize weed in the U.S. was proposed by Sen. Tina Smith (D-Minn.) on July 31. When an entire sector becomes battered, it often creates opportunities for investors to buy top-performing businesses at a bargain price. Today, let's take a look at two companies that fit this category.

Fri
07
Aug

Are These Marijuana Stocks Growing Faster Than The Rest?

These Marijuana Stocks are Growing at an Incredible Rate
 

Marijuana stocks have seen a massive amount of growth in the past few years. While this growth has been much greater in the last few months, the overall momentum of pot stocks has remained positive. But as always, some marijuana stocks to watch are growing at a faster rate than others. The cannabis industry is a fast-paced market and one that can push some companies up quicker than it does for other cannabis businesses. With that, there are several ways to identify a winning marijuana stock.

Fri
07
Aug

Cannabis Is Poised to Rescue the Economy From Collapse

But first, we need to do these 5 things.

Billions of dollars are sitting at the doorstep of Capitol Hill, begging to participate in the economy. But with some wise moves by the Federal government and regulatory agencies, cannabis-generated revenue could be a significant answer to our financial crisis stemming from the pandemic. 

For proof, look at the numbers. In 2019, the cannabis industry generated $629.3 million in tax revenue. Thirty-three thousand jobs were added in the United States, bringing the total to 250,000 jobs. The federal legalization of marijuana would create more jobs, provide potential breakthrough medical advancements, and possibly help reverse social injustice.

Fri
07
Aug

Cronos Group Stock Falls As Losses Rise

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) stock fell over 13% to lately trade at $6.03 after the company reported a net loss for the second quarter of $107 million versus last year’s earnings of $185 million for the same time period. The loss of $0.31 cents per share was worse than the FactSet estimate for a loss of $0.07 per share.

Fri
07
Aug

Michigan Orders Cannabis Recall Over Licked Joints

The Michigan Marijuana Regulatory Agency reports that a number of pre-rolls have been contaminated with human saliva.

State regulators in Michigan issued a recall order for pre-rolled joints sold at more than a dozen retailers over reports that an employee in a marijuana processing facility licked the products as they were being made. The recall order covers cannabis pre-rolls manufactured by 3843 Euclid LLC, a Bay City company licensed by the state Marijuana Regulatory Agency (MRA) as a processor for both medical marijuana and adult-use cannabis products.

Fri
07
Aug

This L.A. cannabis startup blew $164 million in less than two years

 

"Not one person at the top knew what they were doing," one former employee told dot.LA.

A new series from dot.LA is chronicling the demise of the cannabis-focused startup Genius Fund. 

The company was financed by Russian oligarch Dmitry Borisovich Bosov, who invested roughly $164 million. The venture was run by two twenty-somethings, Ari Stiegler and Gabriel Borden.

The structure of the business included more than 50 corporate entities, including THC and CBD manufacturing processes, and employed more than 300 people. Stiegler and Borden had aspirations of building a cannabis empire in California, the world’s largest legal cannabis market.

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