Marijuana Business News

Synonyms: 
stocks
business
Fri
22
Oct

New York State Bans Most Employers From Drug Testing for Pot

medical sample testing

 

New York officials finally provided drug testing freedoms that workers have been waiting for.

The majority of New York employers are barred from drug testing employees for off-the-clock cannabis use, according to new guidance. The New York State Department of Labor (DOL) released new guidance regarding legalized recreational marijuana use and the workplace including the new worker protections.

The DOL published amendments to an existing labor law entitled New York Labor Law 201-D: Adult Cannabis in the Workplace, including specific guidelines about drug testing for cannabis in the workplace.

Fri
22
Oct

USPS Bans Nicotine and Cannabis Devices from Being Shipped Through Mail

delivery package
The USPS announced it will no longer allow the shipment of nicotine vape pens, including ones that contain hemp, CBD or cannabis.

The United States Postal Service (USPS) released the details of its final rule on the shipment of nicotine devices, which also includes cannabis vape devices, immediately prohibiting them from being shipped through USPS mail services.

Fri
22
Oct

Trulieve acquires Harvest, creating nationwide cannabis empire

showing something on a mobile device

The $2.1 billion acquisition of Harvest Health & Recreation by Florida cannabis behemoth Trulieve Cannabis Corp. has finally been consummated, creating the largest marijuana company in the U.S., with a combined 149 dispensaries and operations in 11 states.

Harvest has 39 operating shops in five states, including one in Tucson at 2734 E. Grant Road, and was the first operator to sell adult-use marijuana in the state after the Arizona Department of Health Services gave the green light to legal sales in Arizona on Jan. 22.

Fri
22
Oct

Medical marijuana firm spends $170M to expand into Lancaster, Mount Joy, elsewhere

cannabis plants

A Chicago-based medical marijuana company is spending $170 million to expand in Pennsylvania through a pair of acquisitions which include a Lancaster dispensary and a Mount Joy growing-and-processing operation.

Cresco Labs recently agreed to buy three Cure Penn dispensaries, including one here on Fruitville Pike in the former Kmart Plaza, plus dispensaries in Philadelphia and Phoenixville (near King of Prussia) for $90 million.

The Fruitville Pike store is the county’s oldest dispensary, opening in March 2018 and operating seven days a week. It has nearly 20 employees.

Fri
22
Oct

Three in four California cannabis companies aren’t licensed; $100 million might help

cannabis dispensary

Nearly four years after California started regulating its cannabis industry, three in four businesses still operate on provisional licenses.

As temporary license holders, 75% of the state’s cannabis industry lacks protections and privileges that come with holding full licenses — a situation that worries some in the business. Those temporary operators also haven’t passed extensive environmental reviews required of full licensing — a fact that concerns environmental groups.

Cannabis licensing is slow for a number of reasons, ranging from the sometimes dizzying complexity of California’s environmental rules to conflicting language between state and local cannabis laws to the high costs for permits and a shortage of government workers needed to process the paperwork.

Fri
22
Oct

Will Its Recent IPO Propel This Cannabis REIT to New Heights?

stock graph showing increases

If NewLake Capital Partners can follow the success of a competitor, there is a lot of money to be made.

he anticipation for U.S. federal legalization of marijuana has multi-state cannabis operators (MSOs) expanding footprints across the country. Demand for cannabis has grown over the past three years, with legal cannabis sales in the U.S. going from $12 billion in 2019 to a projected $24 billion in 2021.

But did you know there are multiple ways to make money in the cannabis market without touching a single plant, and without operating any dispensaries? Real estate investment trusts (REITs) including NewLake Capital Partners (OTC:NLCP) are looking to cash in on sale-leaseback agreements for cannabis real estate.

Thu
21
Oct

NBA Hall of Famer and CEO, Announces Participation in the Stellantis-National Business League Black Supplier Development Program

hemp plant

Using Sustainable Hemp Solutions, One World Pharma Seeks to Become a Major Supplier Within the Federal Government, and Public and Private Sectors, Both Nationally and Internationally.

Thu
21
Oct

Bank of America Closes Cannabis Research Account

cannabis leaf on money

Bank of America is, without any clear explanation, closing the account of the legally operating Institute for Cannabis and Psychedelics.

One of the nation’s most popularly used banks decided to close the account of one of the country’s DEA-approved cannabis and psychedelic research institutions.

The Bank of America suddenly closed the accounts of the Scottsdale Research Institute with very little notice or explanation last week. The Scottsdale Research Institution received a letter dated October 12, stating that the account would no longer be accessible in 21 days and fully closed within 30 days. The letter also states that the “this decision is final and won’t be reconsidered.”

Thu
21
Oct

Could Another Acquisition Be on the Horizon for Tilray?

shaking hands

The company's merger with Aphria closed in May, but investors shouldn't rule out another one in the near future.

Cannabis company Tilray (NASDAQ:TLRY) is hoping to reach $4 billion in annual revenue by 2024. For a company that is currently at a run rate of less than $700 million -- it has a long way to go in reaching that target.

Thu
21
Oct

Will US Grown Marijuana Even Exist In 10 Years?

cannabis leaf and US flag

Costs such as labor, electricity, and tariffs may have already doomed the US cannabis industry.

Costs of labor, water, electricity, and tariffs may all signal an unfair market for US marijuana growers.

The US cannabis industry’s final chapter has already been written before it even began!  While the US cannabis industry anxiously waits for Federal legalization, presumably the beginning of a new age of marijuana, the final chapter has already been written, taken from a book we have read many time before.

Wait, what?  I thought the US marijuana industry was just starting, how can it be over? So soon?

Pages

Subscribe to RSS - Marijuana Business News