Marijuana Business News

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Mon
23
Mar

4 Smart Ways Cannabis Retailers Can Adapt To The Coronavirus Crisis

Cannabis is essential during a pandemic.

Over the last seven days, that’s the message perpetuated by several state- and county-level governing bodies: The plant is not some nice-to-have perk, but rather a mission-critical medicine.

For example, in San Francisco government officials reversed a decision to close down dispensaries and allowed them to remain open deeming cannabis "an essential medicine." In that vein, cannabis retailers across multiple state markets have been granted the right to keep their doors open and continue serving patients.

Mon
23
Mar

The Best Marijuana Stocks to Buy During the Stock Market Crash

Let me acknowledge right out of the gate that "best" is a relative term. The reality is that nearly every marijuana stock has been crushed during the coronavirus-fueled stock market crash. But some stocks have weathered the storm better than others. And some are better picks to buy while the market downturn continues.

Mon
23
Mar

Marijuana delivery and sales surge amid pandemic

One company rushed to expand its delivery fleet. Another has seen sales triple. The global coronavirus pandemic has left millions of people locked out of bars, restaurants and theaters, but it's been an unexpected boost for some U.S. pot shops.

Marijuana users in the nation's largest legal pot shop, California, and elsewhere are on a buying binge as they stock up for potential quarantines or simply light up in search of relief during anxious times and government lockdowns. San Francisco and Palm Springs, California, are among the cities labeling dispensaries "essential" businesses that can remain open during virus lockdowns, in some cases with limitations.

Mon
23
Mar

Cannabis Dispensaries Deemed “Essential” – Allowed To Stay Open While Other Businesses Are Forced To Close

As coronavirus sweeps across the nation and state after state is implementing mandatory “lockdown” and “stay-at-home” orders, many feared they wouldn’t be able to get cannabis anymore in the coming days.

Luckily, nearly every state with a medical or recreational cannabis program has deemed these businesses to be “essential”, among services such as pharmacies, grocery stores, hardware stores, and select city and government services. As long as they observe proper social-distancing guidelines and do not include more than 10 people in one place, cannabis dispensaries can continue to operate while companies from other industries are forced to close their doors.

Mon
23
Mar

What’s the Deal with Organic Regulation for Cannabis?

While the standard consumer might not be contemplating whether their CBD oil, hemp flower, or cannabis edible came from an organic source, there is more and more push for better regulatory standards in general, and for organic as well.

Now, let’s talk a little bit about pesticides…

Fri
20
Mar

How Social Distancing Is Driving Cannabis Demand

Cannabis demand is on the rise amid the COVID-19 outbreak. That's according to a new report, released Thursday by the investment division of Bank of America.

The demand acceleration promoted by social distancing of the coronavirus pandemic has not yet reflected on stock prices, according to BofA Securities.

Cannabis stocks have been dropping steadily since the outbreak of coronavirus. Since Feb. 20, the cannabis index followed by BofA has dropped 57%. As a reference, S&P 500 has dropped 29% since the same date.

Quarantine Accounts For Rise In Sales

As consumers get ready for extended stay-at-home periods, they stock up on consumer goods, which includes cannabis products. This has been confirmed by cannabis companies contacted by BofA.

Fri
20
Mar

'It's about being well': Cannabis shops thrive as 'essential businesses' in coronavirus pandemic

As the global death toll continues to rise from the coronavirus pandemic and anxiety for Americans escalates along with the unemployment rate, operators of cannabis dispensaries across the country have reported that business is booming.

Designated by many cities as "essential businesses," legal weed purveyors from Oakland, California, to Denver have been reporting long lines of customers outside their shops similar to those recently seen at entrances to grocery stores and pharmacies.

Fri
20
Mar

Cannabis business leaders to hold virtual town hall over COVID-19 impact

New Frontier Data, the leading data provider in the cannabis industry, is hosting its first ever virtual cannabis town hall this April to discuss the impact of the coronavirus pandemic on the marijuana business. 

The Global Cannabis Town Hall: New Economic Realities will be held virtually on April 2, 2020. Representing different parts of the world, partners of the upcoming town hall will be ExpoCannaBiz (Latin America), CannaTech (Middle East and Asia Pacific), New West Summit (North America), RASB Media (Europe) and CannabisBPO.

Moderating the one-day global event will be CNBC’s Tim Seymour and former Fox News reporter Carl Cameron.

Fri
20
Mar

Texas hemp farmers begin applying for licenses

The inaugural Texas hemp crop is expected to be planted soon, after state regulators on Monday officially opened the online-only application process for prospective growers.

The move by the Texas Department of Agriculture to begin taking applications — which, if all goes as planned, will result in initial licenses and permits within weeks — culminates years of effort by hemp proponents to enable farmers in the state to grow the non-psychoactive cousin of marijuana.

Fri
20
Mar

Cannabis Becomes Bright Spot In Pandemic World

It seems most businesses are reporting dismal outlooks during the pandemic. Event organizers, airlines, bars, restaurants, theatres – you name it everyone is suffering. Everyone except cannabis.

Business intelligence from Akerna (Nasdaq: KERN) said that cannabis sales are thriving during the COVID-19 pandemic. The company provided the following statistics:

The numbers March 11 – March 18:

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