Marijuana Business News

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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.

Tue
28
Sep

Felons Can Now Get Cannabis Licenses in Washington State

hands in handcuffs

Felons will no longer be automatically barred from getting a cannabis license in Washington State, beginning next Saturday on October 2. Several updates to the rule now allow some people with serious felonies to obtain cannabis licenses, on a case-by-case basis.

That’s thanks to a new rule set by the Washington State Liquor and Cannabis Board that will go into effect shortly. Anyone who obtains a license must first pass an obligatory background check, but now, a felony on a record won’t necessarily be an automatic disqualifier.

Serious felony convictions within the past 10 years, however, will still trigger deeper scrutiny of a person’s application. But the rules no longer bar people with felonies from receiving a license. 

Mon
27
Sep

Best Marijuana Stocks For Long Term Investing? 3 Ancillary Cannabis Companies For Your List Right Now

man sitting at computer playing the stock market

Are you looking for top marijuana stocks to buy before October? Last week the cannabis sector and overall markets experienced some market volatility and pulled back during the first half of the week. But with an announcement from Congress that the SAFE Banking Act passed in the House the best cannabis stocks to invest in rallied to close the week. With many analysts predicting the market could continue seeing upward momentum in the fourth quarter it could be time to find top pot stocks before October.

Mon
27
Sep

Is Sundial Growers Too Cheap to Pass Up?

marijuana plant

Cannabis stocks, growth stocks, and all kinds of investments have been volatile this month. The S&P 500 is down nearly 2% since the start of September and the Horizons Marijuana Life Sciences ETF has dropped by 9%. Although some investors may feel the urge to scramble for the exits, the recent sell-off could present some attractive buying opportunities.

One stock investors may be considering is pot producer Sundial Growers (NASDAQ:SNDL). Earlier this year, Reddit investors turned it into a meme stock, creating a buying wave that sent it to a high of nearly $4 a share. This week, its stock fell as low as $0.68 -- its lowest level since May 13, when it touched $0.65.

Fri
24
Sep

Crowdfunding And Cannabis – Be Cautious

Action by the USA’s Securities and Exchange Commission in connection to a couple of cannabis related crowdfunding schemes highlights the need for would-be investors to be cautious. Early this week, the SEC charged multiple parties over what it alleges was a fraudulent scheme to sell nearly $2 million of unregistered securities through two crowdfunding campaigns.

Fri
24
Sep

Is Michigan’s industrial hemp future in the automotive industry?

Michigan’s hemp industry could get up to $100 million in federal funds to help it compete globally under a proposal pushed by a nationwide growers association.

The state is one of four with emerging hemp industries targeted by the National Hemp Association (NHA) along with Oregon, New York and Florida. The funding would be for developing a “regional super site” in each state to aid in the industry’s growth, said Geoff Whaling, the association’s chair.

Hemp is a cannabis plant with a very low percentage of THC, the psychoactive element of marijuana. Developing the industry could benefit Michigan environmentally and economically, Whaling said. The plant has many uses, but the state’s auto industry is what makes it a target for development.

Fri
24
Sep

2 Cannabis Stocks You Can Buy and Hold for the Next Decade

marijuana leaf

When you're looking for stocks that you can buy and hold for many years, it's perfectly fine to be picky about the companies to add to your portfolio. Personally, I'm extremely choosy in selecting stocks, and I take as much time as I feel comfortable with to perform due diligence on a company before I take the plunge.

The marijuana industry has caught the attention of many investors in recent years as extensive legal reforms have created entirely new markets ripe for pot cultivators and retailers. Of course, this also creates extensive opportunities for investors who want to capitalize on all that this lucrative industry has to offer.

Fri
24
Sep

The Biggest Challenges The Cannabis Industry Will Face In 2021 And Beyond

marijuana leaf

No matter where you live in the United States, it’s safe to say that the cannabis industry has come a long way in the past couple of decades.

Back toward the beginning of the New Millennium, if I had told you that recreational cannabis would be legal in 18 states and that medical marijuana would be permitted in 37 states, you would have most likely laughed in my face and told me to take a hike. If you were a cop back then, you might have even had me arrested and charged with possession.

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