Marijuana Business News

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Thu
11
Nov

24 Governors Call On Congress to Pass Cannabis Banking Bill

US government building

Governors across U.S. states and territories have penned a letter to congressional leaders, urging for cannabis banking access.

The governors of 24 states and U.S. territories sent a letter to congressional leaders on Thursday calling on lawmakers to pass legislation that would permit financial institutions to provide banking services to the regulated cannabis industry. The letter from the bipartisan group of two dozen governors seeks passage of the Secure and Fair Enforcement (SAFE) Banking Act, which was approved by the House of Representatives in September as part of a comprehensive defense spending authorization bill.

Thu
11
Nov

Why This Cannabis Operator Is Giving Off Buy Signals

stock charts on a laptop

Could positive Q4 earnings reverse Organigram's recent stock slide?

There's a bit of a conundrum occurring among cannabis companies this year. Quarterly revenue for some  U.S. multistate operators (MSOs) is coming in at record levels. On the Canadian front, New Brunswick-headquartered Organigram (NASDAQ:OGI), one of the leading producers  of indoor-grown cannabis and products made from it, posted double-digit revenue growth in its most recent quarter, alongside significant market share gains this year -- yet its shares have steadily sunk since February. Here's why that market disconnect might give investors a good opportunity to buy in.

Thu
11
Nov

Medical marijuana company purchases second warehouse in Ocala for $3.2 million

holding cannabis buds

Green Ops Group, a medical marijuana company, has purchased a second distribution warehouse in Ocala, property records show. 

The company paid $3.2 million for the vacant building at 500 NW 27th Ave. in northwest Ocala, just south of U.S. 27. The deed shows the property was purchased from Kimber Randi Brady, LLC on Oct. 29. 

Green Ops Group, which is based in Columbus, Ohio, is already renovating two other spaces in Ocala, according to city permit records. One is a 60,000-square-foot warehouse in south Ocala at 720 SW 17th Place, which the company is spending $3 million to renovate into a medical marijuana greenhouse. 

 

Thu
11
Nov

Europe CBD Oil Market Report 2026

CBD oil

Industry Overview, Trends, Growth, Industry Report and Outlook

According to the latest report by IMARC Group, titled “Europe CBD Oil Market Report: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the europe CBD oil market to grow at a CAGR of around 23% during 2021-2026.

Thu
11
Nov

Do Cannabis Companies Face Consequences for Opposing Home Grows?

planting cannabis

Some cannabis companies are still openly opposing home grows. Will they end up on the wrong side of history?

Home grows are the grassroots of the cannabis reform movement. Therefore with legalization, many advocates and patients believe it’s essential for individuals to have a right to cultivate their own plants, especially in a regulated market. High Times dives into the pervasiveness of companies that oppose home grows and how it may be harmful to the community as a whole.

Wed
10
Nov

Hemp Cultivation To Kick Off In Idaho In 2022

Boise Idaho

Following the green light from the USDA, hemp should finally (legally) appear Idaho fields again next year.

Idaho was the last US state to have a ban on hemp cultivation. In April this year, the state’s senate voted in favour of HB 126, the Industrial Hemp Research and Development Act. HB 126 was subsequently signed into law by Governor Brad Little not long after.

But that didn’t mean cultivation could begin. The Idaho State Department of Agriculture was tasked with developing a hemp plan in harmony with the 2018 Farm Bill, which then required the USDA’s approval. On November 1, that approval was granted.

Wed
10
Nov

Cannabinoid hemp is under the microscope

cannabis plant

After its first two meetings, in which the nascent Cannabis Control Board focused on New York’s medical marijuana program, all eyes were on hemp in meeting No. 3. 

Board member and former state Sen. Jen Metzger gave a brief history of the cannabinoid hemp industry, and hinted at what future changes might look like under the new agency structure. Then, the board announced it would adopt a series of changes to the program’s rules, which were more than two years in the making. 

Wed
10
Nov

If You Invested $2,500 in Innovative Industrial Properties in 2019, This Is How Much You Would Have Today

US money

You'd be making much more than if you had invested in an index fund.

When you're evaluating which stocks are worth holding for decades, it pays to look at a company's past performance so that you can judge its merits. In the case of an up-and-coming business like Innovative Industrial Properties, (NYSE:IIPR) sometimes a couple of years is all it takes to build the foundations of a fortune. 

As a real estate investment trust (REIT), a big part of this stock's appeal is its dividend, but its forward annual dividend yield is only 2.31%. Does that mean people who invested a couple of years ago should be disappointed in the company's dividend growth performance? Absolutely not. In fact, they should be very pleased. Here's why.

Tue
09
Nov

Is Marijuana Messing With The Environment?

outdoor cannabis crops

Cannabis does not need to have a large carbon footprint, but it does, and it’s not going away anytime soon.

Weed really does grow “like a weed” in some parts of the country. As states legalize medical and recreational marijuana, however, most natural growing has been tossed aside and replaced with energy-laden practices.

Some farming techniques use shocking amounts of electricity and natural resources while simultaneously pumping harmful toxins into the environment. If left unchecked, these growing methods may have lasting effects on the environment and global climate.

Tue
09
Nov

Looking for a job? This Fall River cannabis grower is on a hiring spree

showing company website on a laptop

 

 

A local cannabis cultivator is on a hiring spree as it expands its cultivating capacity and as the industry as a whole continues to grow.

Cresco Labs, a national cannabis cultivator with a facility in Fall River, held a job fair on Friday at White’s of Westport. The company recently expanded to occupy the third and fourth floor of the historic mill building that it shares with cannabis retailer Sunnyside, a move that tripled their cultivation capacity.

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