Marijuana Business News

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business
Fri
01
Oct

Trulieve is now the largest cannabis operator in the U.S. after closing $2.1 billion deal

money

Trulieve, a cannabis company that operates across 11 U.S. states, has completed the acquisition of Arizona-based Harvest Health & Recreation Inc. The US$2.1 billion deal was first announced in May. Trulieve is now the largest and most profitable cannabis operation in the U.S., according to the company’s announcement.

Fri
01
Oct

What Keeps New York Hemp Farmers Up at Night

marijuana plant

Fear is looming over the cannabis industry as many try to maneuver their way into the nascent New York market. There is deep concern that social equity participants and small business owners won't have a level playing field to compete against large corporations or interstate trade. 

One New York hemp farmer has been working hard behind the scenes to make sure craft farmers in his state are ready when legalization rolls out. He is  Allan Gandelman, president of the New York Cannabis Growers and Processors Association, a longtime farmer, and activist.

Here, he talks about preparing for New York's cannabis debut and his biggest worry—federal legalization and interstate commerce.

Fri
01
Oct

Rolling in the green: Brookline has received nearly $8M in marijuana revenue

cannabis leaf on money

Brookline’s budding marijuana industry is proving lucrative for the town: Since fiscal year 2017, marijuana retailers have paid out more than $4.7 million in community impact revenue, plus an additional $3 million from sales taxes. 

The local pot industry began with Brookline Village’s New England Treatment Access, which opened the town’s first medical marijuana dispensary in 2016, following it up with the introduction of adult-use marijuana in March 2019.

Coolidge Corner’s Sanctuary Medicinals followed in August 2020, and Mission MA opened its Commonwealth Avenue location in August this year. Both Sanctuary and Mission offer only recreational marijuana.

Thu
30
Sep

America is changing. Cannabis tells the story

If you want a metaphor for our changing nation, cannabis provides a good one — in real-time. No issue or idea, industry, or individual better exemplifies it. 

It's been 50 years since the U.S. implemented the Controlled Substances Act (CSA) — the law that began and never really ended the so-called "war on drugs." Cannabis is listed in the CSA with heroin, LSD and Ecstasy as a "Schedule 1" drug. That means that according to the federal government, it has no accepted medical use and high potential for abuse. 

Wed
29
Sep

Chicago Votes in Favour of Recreational Marijuana Stores Expansion

 

The move will allow recreational marijuana stores to expand further than the current seven marijuana zones in the municipality. The largest in the state of Illinois, Chicago has allowed 18 adult-use cannabis retailers so far, among the 110 statewide.

While marijuana retailers are now able to open without special approval from Chicago regulators, the approved proposal is also set to banish retailers in the downtown zone where they aren’t meant to be operating.

Wed
29
Sep

Why Are Sundial Growers and Aurora Cannabis Still the Most Popular Pot Stocks on Robinhood?

people looking at a computer

Robinhood (NASDAQ:HOOD) investors like cannabis stocks. That seems clear considering that there are seven cannabis stocks on the trading platform's 100 most popular list.

Two of those stocks made the top 20 on the list. Sundial Growers (NASDAQ:SNDL) currently ranks No. 4, while Aurora Cannabis (NASDAQ:ACB) holds the No. 16 spot. But Sundial and Aurora have been big losers in recent months. Sundial's shares have plunged 75% below the highs from early this year. Aurora stock has fallen 65% from its February peak.

Why are Aurora and Sundial still the most popular pot stocks on Robinhood? Here are a few likely explanations.

Wed
29
Sep

Learning Risk Management and Compliance From the Cannabis Industry

If you work with products that are not criminalized by the federal government, you may not think you have anything to learn from companies in the cannabis and hemp industry.

But, as these entrepreneurs navigate unique security problems and a patchwork of intense state-by-state regulations, they are participating in a grand business experiment that illustrates the value of innovation and discipline when it comes to risk management and compliance.

Wed
29
Sep

Immediate Changes For Hemp Growers And Sales In Oregon

bale of hay

With the passage of HB 3000, a lot is about to change in Oregon’s hemp industry.
One of the more immediate changes registered hemp growers may notice is additional enforcement action in areas of the state where illegal grows and “hot” hemp has become a large concern over the past year or so.

Wed
29
Sep

Michigan Fab Five's Chris Webber to bring a $175M cannabis 'compound' to southwest Detroit

Former Michigan basketball and NBA star and Detroit native Chris Webber is planning to open a cannabis "compound" in southwest Detroit, which will include a marijuana operations and training facility, a cultivation facility, a dispensary and a cannabis consumption lounge.

Webber broke ground Tuesday on the 180,000-square-foot, $50 million facility, which will be called the Webber Wellness Compound. The compound is owned by Players Only Holdings, a business co-founded by Webber and entrepreneur Lavetta Willis. (Photo by: F.Dozier, Detroit Free Press)

The cultivation will eventually be expanded by 80,000 square feet, representing a $125 million investment. The first phase is set to be completed in March 2022. There's no timeline on the phase two expansion.

Tue
28
Sep

3 Cannabis Beverage Stocks to Buy to Ride the Weed Wave

cannabis beverage

Cannabis beverage stocks are gathering steam as the marijuana legalization debate moves forward. A landmark piece of legislation to federally legalize marijuana will be put forward to a vote in front of the House Judiciary Committee.

This past week, the House passed a $768 billion defense spending bill which includes an amendment protecting banks offering services to state-legal cannabis businesses from the ire of federal prosecution.

With Democrats now in control of all three branches of government, cannabis reform is more likely to go through, leading to a spectacular increase in the stock prices of top cannabis stocks.

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