Marijuana Business News

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Fri
20
Mar

Honolulu cannabis manufacturing facility to produce free hand sanitizer

A local medical cannabis dispensary is now helping keep its clients healthy - in a new way. Aloha Green Holdings Inc., which does business as Aloha Green Apoth, says it "will use its cannabis concentrates production lines to produce large quantities of hydroalcoholic gels immediately."

Fri
20
Mar

Research Suggests CBD is More Than a Fad

A new analysis from Babylon Health shows cannabidiol (CBD) has a high ratio of Instagram posts to academic research articles, suggesting the compound may be more than just a fad.

The London-based remote healthcare provider analyzed the disparity between the number of Instagram posts tagged with its hashtag—for example, #CleanBeauty—to the number of Google Scholar articles about the subject.

Out of ten hashtags analyzed under the “Wellness” category, #CBD was the third-most tagged on Instagram with more than 8 million posts, following behind #Mindfulness with 15.7 million posts and #Meditation with 27.6 million posts.

Thu
19
Mar

Some Illinois Pot Shops Closing Up Voluntarily During Coronavirus Pandemic

The state hasn’t required them to do so, but a handful of marijuana businesses in Illinois have voluntarily closed up shop in response to the COVID-19 pandemic. 

The Illinois Department of Financial and Professional Regulation said this week that it is aware of at least eight adult use recreational marijuana businesses across the state that have suspended sales, a decision made of their own volition. Other businesses, meanwhile, have imposed patient-only hours, according to the agency.

One such business, Dispensary 33 in Chicago, said that it would only serve medical cannabis patients for the time being.

Thu
19
Mar

San Francisco Pot Shops Deemed Essential Businesses, Reopen Amid Outbreak

Cannabis dispensaries in San Francisco were allowed to reopen on Tuesday after city officials determined that they are essential businesses that should not be subject to closure during the ongoing shelter-in-place order. The San Francisco Department of Public Health (SFDPH) had ordered cannabis retailers to close on Monday along with other businesses deemed non essential as the city struggles to cope with the spreading coronavirus pandemic.

Thu
19
Mar

Michigan Recreational Cannabis Sales Increase 34% In February, Prices Down Slightly

Michigan’s recreational marijuana industry continued its steady ascent in February, based on the latest monthly statistical report released by the state Marijuana Regulatory Agency.

Monthly recreational marijuana sales hit $14.8 million, a 34% increase over the nearly $9.8 million in January sales. The first full month of recreational sales, which began Dec. 1, logged $7 million in sales.

Thu
19
Mar

How The Coronavirus Pandemic Will Affect The Cannabis Industry

As the world finds itself engrossed in the largest public health crisis of our lifetimes, the Covid-19 pandemic, the novel coronavirus disrupting life for every American and most across the globe, is naturally on the top of everyone’s minds. As difficult as it is to think about the cannabis industry and reform movement at a time like this, the reality is that the coronavirus’ impact on our economy and society is also impacting cannabis, with the effects likely to get significantly worse in the coming weeks and months.
Thu
19
Mar

How This Leading Pot Stock is Responding to the Coronavirus

Canopy Growth Corporation (CGC Stock Report) is one of the most talked-about pot stocks in the cannabis industry. The company is often looked at as an example of what other marijuana stocks may be working toward. Recently, the company announced that it would be closing all of its cannabis dispensaries around Canada, to do its part in reducing the severity of this novel virus. With this in mind, the company actually saw some gains during the trading day on Tuesday, March 17th.

Thu
19
Mar

The Coronavirus & CBD: Navigating Shifts in Consumer Behavior

Aggressive health measures to stem the spread of the Coronavirus or COVID-19 are changing everything, including the operation of CBD businesses.  And if there’s one thing CBD business owners are accustomed to, it’s change.

Dramatic shifts in in-store and online shopping patterns are palpable and have the potential to become permanent as consumers adjust to public health demands to go out less and shop online more. 

Thu
19
Mar

2 Concerning Numbers That Highlight Some of the Biggest Marketing Challenges for the Cannabis Industry

Cannabis company Canopy Growth (NYSE:CGC) has brought some big-name star power to its brand over the years, including Snoop Dogg, Martha Stewart, Drake, and Seth Rogen. But one of the challenges in the cannabis industry, especially in Canada where regulations are very rigid, is that Canopy Growth can't easily use its size, resources, or branding to its advantage. Spending a lot more on marketing may not pay off in the industry, and that's no more evident than in the following two numbers.

Wed
18
Mar

Confusion Mounting For Cannabis Businesses Over Mandatory Closures In San Francisco

  • The San Francisco Bay Area ordered its residents to "shelter in place" on Monday until April 7 in an attempt to contain the coronavirus outbreak, requiring people stay indoors and most businesses to go remote or temporarily close. 
  • But guidelines over marijuana dispensaries remained unclear until later Monday evening, prompting San Francisco residents to flock to their neighborhood dispensaries.
  • "Medical cannabis dispensaries are medical by definition, so they qualify as essential.  But recreational retailers are not an essential service," the San Francisco mayor's office told Business Insider in an email.

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