Marijuana Business News

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Tue
04
Feb

Virginia hemp weathers a difficult first year

Optimism was high last year after Gov. Ralph Northam signed House Bill 1839 at Virginia State University’s Randolph Farm, making it legal for farmers to grow Hemp in Virginia. Most of those good feelings have failed to deliver over the past year. The visualized hemp “promised land” has instead turned out to be a wild wild west, rife with clunky regulations and chaotic markets.

Before commercial legalization, VSU was one of three universities in the state researching hemp and now works with the Virginia Cooperative Extension to spread knowledge about the crop.

Tue
04
Feb

Will This Be the Next Big Trend for the Cannabis Industry?

Getting a high from using tetrahydrocannabinol (THC) is one of the key reasons people use marijuana. But the potency level of THC has been rising quickly over the years, and pot is much stronger than it was in the past. However, not everyone is looking to get as high as possible, and that's why there could be a more prominent trend among casual users: "lite" bud.

Company launches "LiteBud" brand

In January, Vireo Health (OTC:VREOF) announced it was launching a brand of products dubbed "LiteBud" in an attempt to meet the needs of consumers looking for a buzz as opposed to getting downright stoned.

Tue
04
Feb

No cap on 2020 hemp farming season in SC

As of February 1, hemp farming, handling and processing permits are open for the 2020 grow season

The South Carolina Department of Agriculture (SCDA) has been issuing these permits to farmers since their program began in 2018. 

Tue
04
Feb

This Is the Top Marijuana Stock to Buy in February

The marijuana industry was supposed to have investors seeing green in 2019, but it's red that's dominated the landscape. Following a blazing first quarter which saw more than a dozen pot stocks rise by at least 70%, cannabis stocks spent the remaining nine months of the year in a precipitous downtrend.

While the industry clearly has a lot of growing up to do, there's also a massive long-term opportunity for investors to take advantage of. After all, Wall Street still sees the marijuana industry growing from nearly $11 billion in worldwide sales in 2018 to at least $50 billion in annual sales by 2030.

Tue
04
Feb

Illinois Officials Report Marijuana Sales Reached Nearly $40 Million in January

Licensed cannabis dispensaries in Illinois rang up more than $1 million in cannabis sales per day in January, totaling nearly $40 million in the first month of legal recreational pot. Sales of cannabis for use by adults began January 1 after Illinois became the 11th state in the nation to legalize recreational marijuana in June.

The Illinois Department of Financial and Professional Regulation reported on Monday that sales of cannabis products for the 31 days of January came to a total of $39,247,840.83, with more than $8.6 million in purchases being made by visitors from out of state. The total number of cannabis products sold during the month was 972,045.

Mon
03
Feb

Maryland Farmers Look for Guidelines On Hemp

The meeting room was packed on Jan. 15 for the Maryland Hemp Exchange Roundtable.

Hosted by the Maryland Farm Bureau, the roundtable included speakers Jim Drews, operations manager with the Office of Plant Industries & Pest Management of the Maryland Department of Agriculture; Dan Galluzzo and Eryck Stamper from the Maryland Hemp Exchange; and Kevin Atticks, founder & CEO of Grow & Fortify.

Attendees came hoping for guidelines on Maryland’s hemp production plans and regulations. Fred Coulbourn, who owns 38 acres in Caroline County, hopes to get in on the production ground floor.

“There’ll be an abundance of growers once hemp catches on,” Coulbourn said. “They’ve got to take it past the growing to processors and markets.”

Mon
03
Feb

The Rise of the Themed Dispensary

In the ultra-competitive world of cannabis retail, operators are looking for new ways to stand out from the pack, and one option some have decided to go with is opening a themed dispensary with a focus on creating an “immersive” and dare-we-say “Instagrammable” experience.

Mon
03
Feb

Kentucky, A National Leader in Hemp, Still Faces Struggles

The legalization of cannabis has been unique, to say the least. There are few examples in history of a very popular product entering the legal market in such a relatively rapid fashion. Almost every other commodity in existence has started among a small group of people (either those “in the know”, or the very wealthy, or both). Radios, TVs, cell phones, cars; the list goes on.

Cannabis, however, is an established commodity with a huge customer base. So instead of a slow rollout or build-up, every geographical area where cannabis has been legalized already had a huge demand for the product in place. The repeal of alcohol prohibition in 1933 is really the only other comparable instance to this in the last century.

Mon
03
Feb

3 High-Flying Marijuana Stocks in January: Are They Buys Now?

After a very rough year in 2019 for most marijuana stocks, 2020 has started off on a better note overall. While some stocks continue to languish, others have bolted out of the gate.

Three high-flying marijuana stocks in January that especially stood out are Namaste Technologies (OTC:NXTTF), KushCo Holdings (OTC:KSHB), and Innovative Industrial Properties (NYSE:IIPR). Here's why these stocks performed so well -- and whether or not they're smart picks to buy now.

Mon
03
Feb

No Six-Year Oversupply: Measuring The Oregon Cannabis Market With Accuracy

What are they going to do about the oversupply in Oregon!?

All year, this question has dominated news sources peddling the saga of Oregon’s more than six-year oversupply of cannabis -- when, in fact, the market had an undersupply in some sectors and is certainly gaining in value overall. Anyone looking at day-to-day sales data currently in Oregon knows that it reflects way higher averages than reported even as recently as September in Vice. So, where is the press getting this seemingly false information? By being ignorant of the caveats associated with the industry and relying only on numbers pulled from an OLCC report calculated on flawed methodology. 

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