Marijuana Business News

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Fri
11
Feb

Arizona's weed entrepreneurs sold $1.9 billion of marijuana last year

marijuana money
Arizona’s budding cannabis industry generated $1.9 billion in sales from marijuana products last year, far higher than the estimated $1.2 billion in marijuana sales the state tracked through taxes.

Consumer spending on cannabis — both recreational and medical — was measured by Headset, a Seattle, Washington-based market research company that specializes in studying the marijuana industry.

Medical marijuana has been sold in Arizona since 2010 but recreational cannabis products have been sold to the general public who are at least 21 years old for the first time last year.

Arizona saw more demand for cannabis than other states in the first year of legalization — a sign of industry success, according to the report.

Fri
11
Feb

What is a cannabis concierge and are they worth your money?

hotel lobby

Many dispensaries already offer concierge services through one-on-one consultations with expert budtenders. However, other services take the concierge concept up a notch.

If you live in a cannabis-friendly state, you may have come across the term cannabis concierge. Cannabis concierges represent a new wave of customer service in the marijuana industry. Inspired by the humble hotel concierge, whose sole job is to make the guest happy by providing them with a customized itinerary or organize a VIP trip, cannabis concierges do pretty much the same thing.

Fri
11
Feb

Will marijuana stock IIPR jump following the Q4 earnings report?

cannabis

Innovative Industrial Properties stock gained following the release of first-, second-, and third-quarter 2021 results.

Innovative Industrial Properties (NYSE:IIPR), a real estate investment trust (REIT) focused on the U.S. cannabis industry, is slated to report its fourth-quarter and full-year 2021 results after the market close on Wednesday, Feb. 23. A conference call with analysts is scheduled for the following day at 1 p.m. ET. (Yep, that unusual time is correct.) 

Thu
10
Feb

Scottish hemp products specialist Voyager launches dedicated skincare division

woman after shower

Scottish CBD health and wellness business Voyager has launched a bespoke skincare division as it looks to tap into a fast-growing market.

The rollout of VoyagerCann follows the group’s acquisition of a specialist maker of skincare and face serum products after the parent company went bust.

In December, the hemp products specialist said it had bought the brands and assets of Cannafull, which is also based in Perth.

Voyager, which employs 20 people with plans to add more, said it has worked to re-establish trading in the business and is in the process of contacting Cannafull’s customers and other potential customers offering a full service for the development and launch of CBD skincare products.

Thu
10
Feb

Embarc's Lauren Carpenter on rethinking cannabis in retail and events

woman

How the industry's challenges and regulations are really opportunities

Lauren Carpenter has over a decade of experience building prolific teams and leading successful strategy for some of the most diverse business coalitions and campaigns in California, including dozens of Fortune 50 companies.

Thu
10
Feb

Activist Roz McCarthy, actor Malik Yoba team up on Black Buddha Cannabis Brand

black actors

With Black History Month in mind, we present Roz McCarthy, founder of Minorities for Medical Marijuana (M4MM) and now Black Buddha Cannabis (BBC), her entry into the legal industry. PrePacks™ glass chillums and gummies are the first products to roll out in four states, from California to Ohio "via brand partnerships with equitable manufacturers, cultivators, and operators," according to the press release. 

“I’m a proud Black woman raised by a mother who encouraged me to think big and dream bigger,” McCarthy declares. “The creation of M4MM and BBC is a testament to hard work, tenacity, and perseverance.”

Thu
10
Feb

Cannabis users just want one kind of flower for Valentine's Day

product

Chocolates, roses and oysters aren't the ultimate aphrodisiacs after all, poll finds

Who wants candy and flowers for Valentine’s Day? Possibly a lot of people, even if those go-to gifts aren’t the most imaginative choices.

Cannabis fans, on the other hand, would be happy to skip those traditional symbols of romance and affection. Their message to friends, crushes and partners: nothing says “I heart you” more than weed.

According to a new study from MariMed and the Harris Poll, 63% of cannafans would rather receive weed than boxes of chocolate or floral arrangements for the upcoming holiday.

Thu
10
Feb

Focusing on vertical integration in the cannabis industry

cannabis plant

If we had to pick the most complex investment themes we cover, synthetic biology and gene editing would be at the top. So would cannabis. Legalizing marijuana for adult use in various states while keeping things illegal at the federal level has created a very complex environment to navigate. As with any thesis, our goal is to find the market leader and place our bets. To do so, we isolated the top six multi-state operators (MSOs) and then started evaluating each.

Our simple screening method looks at metrics such as intangible assets on balance sheets (a lower number is better), ratio of cash to liabilities (more cash is better), and of course the absence of any red flags. So far, Trulieve appears to be the most desirable MSO based on these criteria.

Thu
10
Feb

Retail Bakers of America partners with Love’s Oven for cannabis baking workshop

product

The Retail Bakers of America (RBA) has partnered with Love’s Oven in Denver, Colorado to host an in-person, two-day workshop at The Cook Street School in Denver on May 15-16, 2022. “Fresh Baked” will feature everything attendees need to know about the business of baking with cannabis, in-depth baking demos and tours of some of Denver’s finest cannabis bakeries and dispensaries.

Thu
10
Feb

Companies attempt to gobble up market share as Oklahoma's cannabis industry matures

people

The rush to put down dispensary roots three years ago has led to about 2,000 dispensaries doing business in Oklahoma.

It was a modern-day land run as many sought to stake a claim in the booming industry with just one small storefront, staffed by the owner and a couple of employees. But now, as the industry matures and entrepreneurs find their niche in the market, and the state ramps up enforcement efforts on ownership laws, a fight is emerging over market share as companies attempt to expand their footprint into multiple stores across multiple markets.

One business, Apothecary Farms had two grand openings last week alone.

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