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Marijuana Business News

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Fri
26
Aug

Marijuana growing moratorium?: Supply and demand could lead to changes in Michigan

marijuana

DETROIT - Marijuana growers in Michigan are making too much product and it’s outpacing demand.

In just the past year, the price for an ounce of flower went down by 44%.

The Cannabis Regulatory Agency is now seeking input on how to solve the problem.

"The agency has been hearing concerns that the supply of marijuana produced by licensed growers exceeds, or may soon exceed, consumer demand. The concerns include that the wholesale price of flower is lower than the cost of production – or will be when harvests are highest in October," CRA said in a statement

CRA listed three potential forms of action for the public to consider prior to their quarterly meeting, which will be held on Sept. 14 at 9:30 a.m.

Fri
26
Aug

Medical Cannabis Market to Generate USD 54.34 Billion Globally by 2029

Cannabis is now approved for treating various ailments, including restlessness, muscle tightness, persistent discomfort, and the reduction of vomiting and illness caused by chemotherapy.

The majority of businesses are making rapid progress in their research into the potential of therapeutic cannabis and hemp.

Thu
25
Aug

Office of Cannabis Policy hosts town-hall Discussion on Industry

meeting

To take the temperature of stakeholders involved, the office hopes to open up a conversation to better meet industry needs.

BANGOR - To open up a conversation about the industry, the Office of Cannabis Policy hosted a listening event on Wednesday to speak on policy and questions with the public. 

The town-hall style event aimed to gain a diverse perspective of stakeholders in the industry and to answer any questions or concerns the public may have. 

From small businesses to public health workers and even local government officials, attendees at the meeting came from a variety of fields; all effected by the industry.

Thu
25
Aug

Can I get a DUI for using Marijuana?

cop

News 6 traffic expert answers viewer questions.

ORLANDO - News 6 traffic safety expert Trooper Steve Montiero answers viewer questions about the rules of the road every week, helping Orlando-area residents become better drivers by being better educated.

Trooper Steve on Thursday was asked, “Can you be charged with a DUI for using marijuana?”

“Yes,” Trooper Steve said. “If your normal faculties are impaired by anything that affects your operation of a motor vehicle, you could be charged with DUI.”

There are medical laws that pertain to transportation, but we’re talking about driving under the influence of the drug, Trooper Steve said.

Thu
25
Aug

County eases strict Marijuana Zoning Requirements

marijuana

The new zoning rules make it easier to gain Pima County approval for new marijuana dispensaries, manufacturing facilities and cultivation businesses.

“It aligns more closely with the city’s (Tucson) codes, as in the dimensions and setbacks,” said Chris Poirier, deputy director of Pima County development services. “Even with the Type III permits, it is still much easier than what had to be done to start one of these businesses.”

The proposal for reducing restrictions for marijuana business permits passed the Pima County Board of Supervisors 3-2 earlier this month. 

Thu
25
Aug

Looks like Massachusetts is getting LIT

cannabis

There’s a new cannabis flower brand in Massachusetts, and it’s LIT. 

Ayr Wellness, one of the largest publicly traded cannabis companies in the United States, recently announced that it partnered with Lit to bring its line of cannabis genetics to its Massachusetts dispensaries.

Lit is the latest West Coast cannabis flower brand that is trying to make the jump to the East. Short for Lost In Translation, the brand was co-founded by Ray Schiavone, who originally launched it in Nevada with Tahoe Hydroponics Company. 

Thu
25
Aug

Cannabis products firm Love Hemp hit by Trading Suspension

Temporary de-list imposed in addition to £100,000 fine reduced to £70,000.

Cannabis-based products business Love Hemp has been slapped with a £100,000 fine and de-listed from alternative market Aquis Stock Exchange (AQSE) due to a fundraising issue. 

The company backed by two-time world heavyweight champion boxer Anthony Joshua specialises in cannabis oil (CBD) and other hemp products, including  edibles and capsules, and has now agreed to pay a reduced fee of £70,000 after falling foul of an AQSE investigation. 

Thu
25
Aug

What new Federal Investments in THC Breathalyzers mean for the Future of Testing

cops

Even with elaborate and accurate equipment, there are likely to be many legal battles fought over how legitimate the equipment is.

As marijuana becomes legal and regulated in many states, law enforcement is often struggling to keep up with the times. There is definitely a learning curve when something that was illegal suddenly becomes legal, and this is particularly true with marijuana. In fact, determining whether someone is under the influence of cannabis remains a difficult thing to prove in a court of law.

Thu
25
Aug

Study shows people who use Cannabis are more likely to consume Nicotine Products

smoke

The study, published in the American Journal on Addictions, is among the first to examine nicotine use among patients of a medical marijuana dispensary.

What are the substances, which enhance one's nicotine addiction? In a first, a study published in the American Journal on Addictions, is among the first to examine nicotine use among patients of a medical marijuana dispensary. According to a study, people who use medicinal cannabis are more prone to consumption of nicotine products than the general population. 

Wed
24
Aug

Is this Cannabis Stock going up in Flames?

stock photo

Innovative Industrial Properties (NYSE: IIPR) -- often referred to as IIP -- quickly became one of the hottest growth stocks in the cannabis industry.

The real estate investment trust (REIT), buys and leases industrial properties to licensed medical marijuana operators. At its peak in February 2021, it had grown 916% in five years.

But its stellar growth has come to a screeching halt. Concern over the legalization of cannabis, followed by a class action lawsuit, and now a default from its largest tenant have pushed shares down 64% from recent highs.

Investors rightfully are wondering if the stock is going up in flames, or if it's bound to recover. Here's what's going on, and where the stock could be headed in the future.

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