Marijuana Business News

Synonyms: 
stocks
business
Tue
21
Sep

Cannabis Practices Sprout as Big Law Firms Follow the Money

Notoriously risk-adverse Big Law firms are building cannabis practice groups as a rising number of states legalize recreational and medicinal use, even though the drug remains largely banned under federal law.

Cannabis practitioners hail from a variety of specialties, reflecting the range of issues that their clients face. The lawyers have to be flexible in the rapidly changing area as voters and lawmakers act to advance—and sometimes fight—legalization.

“This is not for the weak of stomach,” said Eric Berlin, who co-leads Dentons cannabis practice and helped craft and pass the Illinois and Ohio medical cannabis laws. “You have to deal with a level of uncertainty there.”

Tue
21
Sep

New Report Says Medical Cannabis Consumers Spend More

Cannabis data and analytics specialist Headset just released its latest report comparing US medical and recreational cannabis market development, bearing results that reveal sales patterns and unifying trends across the industry.  The report’s findings are grounded in the context of the predominant pattern of a three-step process in cannabis market development, including prohibition, medical access, and adult-use legalization. Though there are exceptions to this evolution where markets leapfrog medical use and go straight from cannabis prohibition to adult-use legalization, flagship states like California, which approved medical use in 1996 but took another twenty years to allow adult-use cannabis, follow a more predictable pattern.

Tue
21
Sep

Saint Regis Mohawk Tribe taking applications for cannabis retail licences

Money with cannabis leaf

The Saint Regis Mohawk Tribe (SRMT) in New York is hoping the issuing of Tribal Cannabis Retail Licences will lead to the establishment of a legal industry, which will then, in turn, fund local essential services, such as education and elder support.

The tribe first announced in July that it would allow for local entrepreneurs to grow and sell their own cannabis plants and products. That news came after the state of New York legalized the recreational use of cannabis earlier in March. It’s not expected to issue retail licences for another 18 months to sell cannabis, however.

Mon
20
Sep

More Than 90% Of Maine Towns Still Don’t Allow Recreational Marijuana Sales

More than 90 percent of Maine towns and cities still don’t allow recreational marijuana stores, even as sales in the industry have steadily grown since they started nearly a year ago.

While Brewer and Orono are both on track to allow recreational cannabis stores sometime soon, they’ll join only three other Penobscot County communities that allow such shops — Bangor, Medway and tiny Stacyville with just 380 residents. Etna allows growing operations but not retail stores.

Mon
20
Sep

Sales surge at Vista cannabis shops after city OKs recreational use

Cannabis dispensaries have turned out to be a pot of gold for the city of Vista, and they likely will bring in more tax revenue following a recent change that allows the businesses to sell their products for recreational use.

“Sales automatically increased,” said Mike Mellano, owner of Coastal Wellness dispensary. “We had such a quick response. Sales have been up about 35 percent or 40 percent. I was expecting 15 maybe.”

Tradecraft Farms became the first of the city’s 11 dispensaries when it opened in 2019 following the passage of the citizen-driven Measure Z initiative, and store manager Edgar Gaytan said business appears to be up by about 20 percent since the shop was allowed to sell products for recreational rather than just medical use about a month ago.

Mon
20
Sep

Marijuana license winners in Illinois now compete in ‘Shark Tank’-like scramble to get startup cash

In the recent competition for cannabis business licenses in Illinois, Ambrose Jackson’s team struck gold. They won rights to both grow and sell their own cannabis. Jackson is quitting his health care management job to commit full time to becoming a legal marijuana business owner.

But he’s anxious about it, because now the hard part starts for license holders — hustling for funding. Like contestants on the TV show “Shark Tank,” they must sell themselves and their plans to get the millions of dollars they need to get started.

Fri
17
Sep

More Cannabis Dispensaries Coming Soon: Ohio Expands Medical Cannabis Cultivation Amid Shortages

bridge in ohio

Ohio's medical marijuana cultivators who have complied with rules and regulations can now request permission to expand their grow space, the Ohio Department of Commerce announced Wednesday.

The expansion process comes as the Buckeye State plans to more than double the number of its dispensaries after a cultivator, Fire Rock Ltd., sued the state for failing to act on its February 2020 request to expand.

"This decision comes after a review of multiple program metrics, including patient program participation and the Board of Pharmacy’s impending request for new dispensary license applications," a Commerce Department spokesperson told the Cincinnati Enquirer.

Fri
17
Sep

4 Quick Tricks for Picking Winning Cannabis Stocks

stock market graphic

Investing in cannabis stocks can be like looking for a goose that lays golden eggs -- but finding only lemons much of the time. Between the ever-present hype about questionable companies and the industry's struggles with efficiency, even savvy buyers can make mistakes; I know I've made a few! 

The good news is that becoming a wiser investor is easier than it may seem. And today, I'll be sharing four of my best tricks for identifying the best marijuana stocks so that you'll be equipped to succeed.

Thu
16
Sep

Hemp Fiber and Grain to generate $32B impact by 2030

hemp seeds

In response to a request from the Domestic Policy Office in the White House, the National Hemp Association released an economic impact report titled, “Building the Sustainable Hemp Industry in the United States.” 

The report was presented to the White House last week and outlines a pathway to establish a new sustainable economy around hemp fiber and grain with a projected $32B impact by 2030.

Thu
16
Sep

This Upcoming Marijuana Merger Could Generate Great Returns for Investors

man with laptop

Consolidation in the cannabis industry is inevitable. As long as marijuana remains federally illegal in the U.S. and cannabis companies need to expand via acquisition to penetrate more states, marijuana businesses will continue to join forces. One deal that investors will want to pay close attention to right now involves cannabis producer TerrAscend's (OTC:TRSSF) acquisition of Gage Growth (OTC:GAEG.F), a Michigan-based marijuana company.

The two businesses announced the deal on Sept. 1, and the combined entity could become one of the top multistate operators in the country. Here's why you should consider putting TerrAscend's stock in your portfolio in light of this news.

Pages

Subscribe to RSS - Marijuana Business News