Marijuana Business News

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Thu
25
Jun

6 Steps To Steering Your Cannabis Business To Recovery

n today's rapidly changing economy, there is a lot of discussion about best practices to successfully emerge from the initial impact of the recent COVID-19 crisis.

Wed
24
Jun

Cannabis Market in Illinois Grows, Challenges Remain

The cannabis market in Illinois has shown tremendous potential. The state legalized recreational cannabis in January. In the first two months, there was a surge in sales. However, the COVID-19 pandemic hit. Luckily, Illinois deemed cannabis as an essential item amid the pandemic, which didn’t hamper sales. The state recorded drastic sales in April and May. However, there are still some challenges for the cannabis market in Illinois.

Wed
24
Jun

Aurora to close five facilities, lay off 700 staff in latest restructuring

Aurora Cannabis Inc. announced Tuesday it is closing five of its production facilities and laying off about 700 workers as the pot giant continues restructuring its operations in a bid to achieve profitability. 

The Edmonton-based cannabis producer said in a statement it is closing five smaller-scale facilities in Quebec, Saskatchewan and Alberta this year to consolidate production at its four remaining plants, while booking a $60-million impairment charge related to the closures in its fourth quarter. Aurora also said it plans to take a $140-million charge related to a revaluation of its raw cannabis given shifting consumer demand. 

Wed
24
Jun

Canopy maps out turnaround built on layoffs, drinks, U.S. CBD

Canopy Growth Corp. is doubling down on its cannabis-infused vapes and drinks, as well as upcoming U.S. CBD products, while continuing to cut costs as it looks to rebuild investors’ trust.

The world’s biggest pot company discussed plans to address its sagging market share in the Canadian recreational market as well as its strategy for the U.S. cannabis market in a presentation to investors Monday. 

Wed
24
Jun

6 LGBTQ Movers & Shakers in the Cannabis Industry

Members of the cannabis industry often tout their field as one of the most inclusive. The legal cannabis market is, after all, being constructed and furnished right before our very eyes — why wouldn’t it be diverse and accepting and progressive?

After all, given the medical marijuana movements close ties to the AIDS crisis (shout out to medical marijuana pioneers Dennis Peron and Brownie Mary!). But unfortunately, when something like the promise of an industry free from the ills of discrimination and patriarchy sounds too good to be true, that’s usually because it is.

Wed
24
Jun

Why 7-Eleven Is Waging War Against Oklahoma Marijuana Dispensaries

“What we’re hearing from 7-Eleven is they consider this a criminal activity and money laundering,” said one dispensary owner.

Wed
24
Jun

Martha Stewart's CBD For Pets Brand Expected To Hit Markets This Fall

Martha Stewart, the 78-year-old entrepreneur who built a wildly successful media empire and lifestyle brand, turned her attention last year to cannabis. Stewart is now working with Canadian company Canopy Growth to develop a line of CBD products for pets.

Tue
23
Jun

Why Every Cannabis Company Needs A Scientific Advisory Board

The cannabis industry has reached a point in its evolution where science and research are no longer an added bonus, rather a necessity.  As we continue to tout the benefits of cannabinoids like THC and CBD, skeptics and investors need science-based evidence in order to establish credibility and trust in the industry. Even those who believe in the benefits of cannabis want more data.

Tue
23
Jun

Two Marijuana Stocks To Watch At The End Of June

These Two Pot Stocks Could Prove to be Important For The Last Week of June

Tue
23
Jun

Cannabis Drinks Are Projected To Make $2 Billion This Year

The year 2020 may go down as the worst in memory, but not for cannabis beverage manufacturers.

According to a report by Prohibition Partners, the global cannabis drinks market will be worth $1.82 billion by the end of the year. That number is driven by consumers looking for cost-friendly relief from the current COVID-19 pandemic.

Why are so many obeying their thirst?

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