Marijuana Business News

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business
Thu
10
Jan

Cuomo cautions against sky-high marijuana taxes

Gov. Andrew Cuomo recognizes that New York could be entering a competitive marketplace if the state government legalizes marijuana this year.

Speaking to reporters on Wednesday afternoon, the governor warned that any regulatory framework for recreational marijuana should factor in the cost of the drug in nearby states or on the black market.

"If you charge too much you will drive the business back to the illegal sales because it is just less expensive," he said.

Massachusetts has a growing legal market and New Jersey lawmakers are pushing to allow recreational use. Cuomo said New Yorkers might visit the neighboring states for lower prices if New York taxes make purchases more expensive.

"They are naturally competitors in the marketplace," he said.

Thu
10
Jan

The guy who says marijuana leads to murder now says It leads to schizophrenia and other mental illness

Yesterday we talked about an author whose new book claims marijuana leads people to commit violent crimes and murders, despite little to no evidence showing that it's true. And now that same author is telling people cannabis can also lead people to becoming psychotic, writes Joseph Misulonas.

Thu
10
Jan

Alexandria Ocasio-Cortez brings former Marijuana Policy Project director to her staff

In her much loved dinner prep Instagram livestreams, Congresswoman Alexandria Ocasio-Cortez has made it clear that she thinks marijuana prohibition is a “tool” used to oppress people of color in the United States. But other than the fact she’d legalize cannabis and advocate for the release of people who have been incarcerated for nonviolent drug offenses, she hasn’t released much info on her ideas around cannabis.

Thu
10
Jan

Marijuana hasn't hurt booze sales in the three states where weed has been legal the longest

Industry observers expected that the marijuana legalization trend in the U.S. would hurt liquor sales, but a new study from a booze trade association says that hasn't been the case in the three states where weed has been legal the longest.

Overall industry trends remained consistent, according to the Distilled Spirits Council, which did the study. Spirits sales went up in the three states – Colorado, Oregon and Washington state – although wine and beer stayed on their mixed to negative course.

"At this point, we've seen no impact on spirit sales from legalized recreational marijuana," said Chris Swonger, CEO of the Distilled Spirits Council.

Thu
10
Jan

15 Edibles you won't be able to buy when Canada legalizes edibles

Canada is set to legalize the sale of cannabis-infused edibles by October 17, 2019, but not all varieties of infused foods will be available as the current regulations would still prohibit stores from selling certain types of edibles, writes James McClure. 

Here are 15 edibles you still won't be able to buy next October.

Thu
10
Jan

Possible 2020 Presidential candidate calls for marijuana legalization in new book

Yesterday California Democratic Senator and possible 2020 presidential candidate Kamala Harris released a new book called The Truths We Hold: An American Journey, which is essentially her laying out her political plans for America. And one of those plans involves marijuana, writes Joseph Misulonas. 

Thu
10
Jan

Are these top marijuana stocks to own in 2019?

The global marijuana market is growing, and investors are eager to invest in marijuana stocks likely to benefit from legalization. The opening of Canada's recreational marijuana marketplace in October and the passage of propot laws in three more U.S. states mean the industry made big progress last year, but not every marijuana stock is worth owning. While there are plenty of investment options for investors, here's why I think Canopy Growth (NYSE:CGC), Aurora Cannabis (NYSE:ACB), and KushCo Holdings (NASDAQOTH:KSHB) are top marijuana stocks to buy in 2019.

Thu
10
Jan

NYC mayor intends to prevent cannabis corporatization if legalization succeeds

New York City Mayor Bill de Blasio has called for a cannabis industry fueled by small businesses if legalization efforts in the state succeed. Speaking before a Brooklyn audience last week, the mayor said that in addition to the health and safety issues involved with legal pot, he is concerned about the potential influence of big business on New Yorkers and the emerging market.

“My goal is that we avoid the corporatization of the marijuana industry,” de Blasio said.

Wed
09
Jan

The maker of Corona beer is plunging after slashing guidance because of its marijuana acquisition

Constellation Brands, the company behind Corona beer, plunged 11.45% to $152.61 early Wednesday after slashing its guidance because of its recent marijuana investment.

Constellation Brands adjusted its full-year comp earnings guidance to $9.20 to 9.30 a share, down from its previous forecast of $9.60 to $9.75. Analysts surveyed by Bloomberg were expecting $9.43 a share.

Wed
09
Jan

Will cannabis-infused beverage stocks live up to the hype or fizzle out?

If any investors had been wondering how long it would take for the marijuana industry to shed its moniker as "taboo" and become a legitimate business model, wonder no longer.

Last year was a game changer in many ways for the cannabis industry. Canada became the first industrialized country to legalize adult-use weed, the U.S. Food and Drug Administration approved its first cannabis-derived drug, and President Trump signed the Farm Bill into law, legalizing hemp and hemp-based cannabidiol (CBD). Any doubts about marijuana being a valid business model were tossed out the window.

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