Marijuana Business News

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stocks
business
Fri
08
Oct

Why This Pick-and-Shovel Cannabis Stock Says Its Shares Are Too Cheap

stock market graphic

During the third-quarter earnings call for Scotts Miracle-Gro (NYSE:SMG), CEO Jim Hagedorn not-so-subtly gave his opinion on the stock's price, saying, "I'm a big fan of buying our shares at these prices." While it is not uncommon to hear CEOs say this about their companies, Hagedorn may not simply be talking up his company's stock in this case.

With most of a $750 million share-repurchase authorization available, the company is eyeing its shares at a discounted price. But should investors consider buying, too?

Fri
08
Oct

The Latest IRS Initiative Could Positively Impact Cannabis

IRS

The tax man is extending a helpful hand to marijuana business owners, not something we would normally see for the cannabis industry. 

In an announcement posted on its website late last month, the Internal Revenue Service unveiled its new “Cannabis/Marijuana Initiative,” billed as a “groundbreaking effort” by the agency to assist such business owners as they navigate the often confounding U.S. tax code.

The goal of the initiative, the agency said, “is to implement a strategy to increase voluntary compliance with the tax law while also identifying and addressing non-compliance,” a move the IRS believes “will positively impact filing, payment and reporting compliance on the part of all businesses involved in the growing, distribution and sales of cannabis/marijuana.”

Fri
08
Oct

State marijuana agency to begin regulating THC products derived from cannabis plants

Hemp packaging

All THC products derived from the cannabis plant will soon be covered by state law and regulated by the Michigan Marijuana Regulatory Agency.

Starting Monday, October 11, these products will only be available after appropriate approvals, rigorous testing, and commercial standards that currently protect consumer safety in the legal marijuana marketplace. (AP Photo/Wilfredo Lee)

With the change, consumers will no longer be able to purchase the products in convenience stores, gas stations and tobacco/smoke shops throughout the state.

Fri
08
Oct

For legalized marijuana, banking woes persist

bank

 

Nearly three years after Missouri voters legalized medical marijuana across the state, the cannabis industry in St. Louis appears to be thriving, with state-regulated dispensaries popping up throughout the region. But managing the money side of things has proven a struggle for many distributors and growers — even though their businesses are fully legitimate. That’s because many banks won’t accept their money, or insist on charging them significant fees if they do.

Thu
07
Oct

Cannabis Branding: Smart Marketing or Too Much Waste?

cannabis packaged products

Cannabis legalization appears almost certain to do more good than harm for the world. As an industry takes shape and drug war victims incrementally receive a modicum of restorative justice, we may sometimes overlook the adverse impacts along the way. Waste continues to be a primary concern. 

Legalization across the states leads to an influx in operators and often strict regulations around child-safe packaging. Making matters worse, cultivation from licensed and unlicensed farms can often create significant impacts on water, waste and the land. So much so that a 2021 Colorado State University study found that the state’s indoor and greenhouse grows produced more gas emissions than in-state coal mining.

Thu
07
Oct

Vegan Based CBD Company Ready to take the Industry by Storm

Go Vegan Sign

Hempoholic LLC is not your average CBD company. Hempoholic was founded by husband and wife power couple Jason Gathing, M.Ed. and psychiatrist Ayo Gathing, M.D. to shake up the industry. Their mission is to provide education on the benefits of CBD, sell high quality vegan hemp based CBD products, as well as empower traditionally excluded populations to break into this exclusive business area.

Thu
07
Oct

Cannabis Investors: Here's the Next Big Pot Stock of 2021

man at computer

Investing in the cannabis industry early on can be a great way to set yourself up for some long-term gains. Buying shares of a newly listed marijuana company can be risky but doing so will give you an opportunity to amplify your potential returns. With market caps all over $1 billion, Ascend Wellness, Verano Holdings, and WM Holding (NASDAQ:MAPS) are some of the larger marijuana companies to begin trading on major exchanges this year. Another company Cannabis investors should watch for in the fourth quarter: Leafly. With some impressive forecasts that include revenue potentially tripling within just a few years, this well-known industry brand is likely to be one of the biggest names in the sector to go public before 2021 draws to a close.

Thu
07
Oct

How to Invest in Cannabis Stocks in a Bear Market

woman at a computer

Even if we don't enter a bear market anytime soon, you should have a game plan for how to make the most of one. And, if you're heavily invested in cannabis stocks, you'll need to be ready to adjust your fair-weather strategy significantly when the bears come out of hibernation.

It's hard to go wrong by purchasing shares of high-quality and stridently expanding companies. But, in the marijuana industry, rapid growth can cover up a lot of issues that a market downturn could easily reveal. Let's investigate why that's the case so that you'll be better equipped to protect your portfolio.

Thu
07
Oct

Cannabis Growing at Famous U.S. Agricultural Learning Center

marijuana plant

The St. Louis Science Center is adding Colorado-bred hemp plants by Trilogene Seeds to its internationally famous agricultural learning center, the GROW pavilion. Hemp, aka Cannabis sativa, is botanically the same plant as marijuana. But hemp produces little to no THC, the psychoactive compound in marijuana. Hemp was federally legalized in 2018 and is now grown for its edible grain, CBD and fiber.

Wed
06
Oct

Hemp Startup Founders Accused of Stock Fraud

fraud alert sign

The two co-founders of CanaFarma Hemp Products have been charged with fraudulently raising $15 million from investors by making false statements about the “farm to table” hemp startup and its management.

The U.S. Securities and Exchange Commission said Vitaly Fargesen and Igor Palatnik misrepresented CanaFarma as a “fully integrated” hemp company and inflated its revenue in materials for two private offerings of shares while pocketing $4 million of the investor funds for their personal use and purposes unrelated to CanaFarma.

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