Marijuana Business News

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Mon
05
Apr

Cannabis Crowdgrowing Could Revolutionize the Industry

Thanks to global cannabis reform victories, the legal industry is spreading to virtually every corner of the planet through new concepts like crowdgrowing. Cannabis may still be prohibited in various countries, however, momentum for reform is greater than ever and the future of the cannabis industry is extremely bright.

No other industry is as exciting as cannabis right now, and with legalization still in its infancy by most measures, the potential for profit is astronomical.

Mon
05
Apr

How Mexico's weed legalization could de-escalate the entire drug war

Mexico’s lower house of Congress in March handily approved a bill to legalize the recreational use of cannabis. The bill is now with the Senate, where it is likely to pass, as Mexican senators have previously voted to legalize cannabis.

Mon
05
Apr

Recreational marijuana sales in Illinois smash record in March — $109 million

Illinois set a record with $109 million in sales of recreational marijuana in March — a huge 35% increase from the previous month.

Better weather no doubt played a significant role in the increase over February. But the sales reflect an escalation of the almost constant growth in sales since cannabis was legalized in the state in January 2020.

“March was set up to be a growth spurt with a longer month ... new retail stores opening across the state, and stimulus checks hitting people’s bank accounts,” Chicago-based cannabis company Cresco Labs spokesman Jason Erkes said. “The warmer weather also contributed to a very successful month of sales.”

Mon
05
Apr

Why Does Social Media Still Ban Cannabis?

While it may seem tempting to blast sales promotions and your new products online, stop. You can get red flagged or even have your account deactivated.

Anyone who handles the marketing or social media side for a cannabis business can tell you that social media is a huge pain in the @$$.

Mon
05
Apr

Is The Cannabis Industry Racist?

It’s up to entrepreneurs, activists, and various public entities to create campaigns making their local cannabis industries less exclusive and much more inclusive.

The statistics on disproportionate arrests against Black people when it comes to marijuana-related crimes are nothing short of shocking. Systemic racism plagues the industry, and cannabis crimes are just one part of it.

Thu
01
Apr

California Gives $15 Million to Cannabis Social Equity Program Participants

California has granted $15 million to 10 cities and counties that are part of social equity programs. The Governor's Office of Business and Economic Development and the Bureau of Cannabis Control announced the grant funding through the Cannabis Equity Grants Program for Local Jurisdictions earlier this week.

Nicole Elliott, senior advisor on cannabis to Governor Gavin Newsom, disclosed that generations of Californians have experienced impacts of cannabis prohibition and criminalization. The grant funding is poised to help those within the legal cannabis market that were disproportionately harmed by the war on drugs, California Cannabis Portal writes.

Thu
01
Apr

Marijuana Shoppers Return to Pre-Pandemic Hours, Favoring Night to Day

As the COVID-19 pandemic disrupted work, school and life schedules, it also caused marijuana buyers to change when they shopped, shifting from the evening hours to the daytime. A year later that pattern is returning to normal, with more shoppers visiting cannabis retail outlets in the evening.

Retailers in general, including marijuana outlets, experienced shifting peak hours after the outbreak of the pandemic as consumers sought safer, more-convenient shopping experiences during the day versus the evening. Many consumers were able to shop at different times because of new working conditions, or they deliberately avoided popular times. Knowing and understanding that peak shopping hours are shifting back will allow cannabis retailers to better predict their scheduling needs.

Thu
01
Apr

Meet the new face of the cannabis industry: Your mom

Since the start of the pandemic, cannabis use has skyrocketed. Americans spent $18.3 billion on cannabis products last year – 71% over what they spent in 2019 – meaning we the people needed a lot of weed to cope with 2020. According to a recent survey, many of those people are parents.

Thu
01
Apr

Are These Top Marijuana Stocks On Your April Watchlist

Top Marijuana Stocks Watch For A Rebound Next Month

Marijuana stocks are working to see better trading in the market. Since mid-February, many of the top marijuana stocks in the market have dropped in trading. Now in that time, small spikes in trading have occurred but overall a decrease in momentum has happened. Some investors are taking this time to look for the best marijuana stocks to buy. Others are holding their current position as they wait to see better trading in the near future. The current strategy that is taking place is buying the dips.

Thu
01
Apr

Cuomo signs N.Y. pot bill, with sales due as soon as 2022

New York is set to become the nation’s second-largest legal marijuana market after Gov. Andrew Cuomo on Wednesday signed legislation allowing the licensing of dispensaries.

Cannabis storefronts will be allowed to open as soon as next year under the measure (S.854A/A.1248A), which the Legislature cleared on Tuesday.

New York is the 16th state to decide to let adults use cannabis, though marijuana stores probably won’t open in New Jersey until next year, and South Dakota’s law is under appeal. New Mexico’s legislature is on track to pass its bill this week. Under New York’s law adults age 21 and older would be allowed to purchase and consume cannabis.

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