Marijuana Business News

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business
Mon
03
Feb

Global Cannabis Industry Valued at $14.4 Billion

Surging demand for cannabis in Canada, California, and Massachusetts drove a 45.7% increase in global sales during 2019, according to researchers at Arcview and BDS Analytics.

They crunched the numbers and calculated that legal marijuana sales reached $14.9 billion last year. Recreational sales in Canada, California, and Massachusetts were credited with driving the strong upswing, while flourishing medical sales in Florida and Oklahoma also took some of the credit.

Mon
03
Feb

California Is Failing Its Cannabis Industry, Big-Time

Last year was supposed to be when the cannabis industry proved to Wall Street and investors that it deserved a lofty valuation. Canada had recently become the first industrialized country in the modern era to legalize recreational weed and was seemingly months away from launching higher-margin derivatives, while the U.S. appeared to have plenty of momentum with regard to additional state legalizations.

Fri
31
Jan

In-Store Dispensary Trends To Look For In 2020

Trends come and go at a rapid pace in the cannabis market. That’s the nature of any new industry. But for 2020, a handful seem certain to emerge on the shelves at your local dispensary.

One thing you might notice are shorter lines and less people as digital kiosks move customers through the dispensary faster. There also will be even more CBD-infused goods, because it’s the one marijuana-related product that is legal from sea to shining sea.

Here’s a look at a handful of in-store dispensary trends to look for in 2020.

Fri
31
Jan

Michigan Medical Marijuana Dispensary Owner Sentenced to 15 Years in Federal Prison

The United States Department of Justice isn’t supposed to be wasting tax dollars prosecuting marijuana crimes that are otherwise legal under state laws. However, it seems that even now if they feel a business operator has stepped out of bounds in some way, they will swoop in and remind us all that federal law is above any law passed by individual state governments. Michigan dispensary owner Danny Trevino (of Lansing) has finally reached sentencing for the charges he faced for the operation of his Hydroworld shops in Lansing, Grand Rapids, Jackson, Flint and Mount Pleasant – and the judge gave him a total of 15 years and 8 months in federal prison

Fri
31
Jan

MedMen CEO Adam Bierman Is Out

MedMen Enterprises Inc.  (CSE: MMEN) (OTCQX: MMNFF) announced that its Co-Founder and Chief Executive Officer Adam Bierman is stepping down as CEO effective February 1, 2020. Bierman is also giving up all of his Class A super voting shares as part of the deal.

Fri
31
Jan

First Cannabis Export Allowed into Israel will Improve Patient Access

iStock-Talaj

Tilray has signed an agreement for a 2.5 tonne export agreement with Canndoc to address growing demand for medical cannabis in Israel.

Fri
31
Jan

2 Marijuana Stocks To Watch In February

January has already shown some positive sentiments for marijuana stocks. Yet could February be even better? There are a lot of questions up in the air right now as to what the trend will follow. With so much dependent on legislation and how well the different markets are able to flow, it can be challenging to tell what is on the horizon for certain marijuana stocks. But, January has given us a better idea of what we can begin to look for in the coming months.

Fri
31
Jan

Illinois pot retailers struggling to meet demand

Less than a month since legal recreational marijuana became available in Illinois, the state is already facing a serious pot shortage.

With legal weed sales hitting $3.2 million on the first day of legalization, demand has been going strong, with no signs of abating.

Now Illinois retailers are taking measures in an effort to spread out the remaining product and try to serve as many customers as possible, Marijuana Business Daily reports

Fri
31
Jan

‘Hot Plants’ Prove Problematic For Hemp Entrepreneurs

A hemp plant can “go hot” (aka experience a spike in THC levels) due to using a new seed variety, environmental factors, or a plant left to flower for too long.

Just over a year from the date when the 2018 Farm Bill removed hemp from the list of controlled substances and legalized it for industrial growth, issues plaguing hemp producers in 2019 are coming to light. The most dominant pitfalls include a glutted market, unpredictable climate, problems with mold and pests, and a chronic shortage of adequate drying facilities.

Seasoned farmers are no strangers to these types of problems, but industrial hemp poses a new challenge: how to bring a crop in under the .3% THC limit mandated by the federal government.

Thu
30
Jan

6 Cannabis Stocks That Have Produced a Real Operating Profit

Things certainly did not go as expected for cannabis stock investors in 2019. Following a first quarter that yielded incredible returns, pot stocks spent the remaining nine months of the year retracing their steps. A combination of high tax rates on weed in the U.S., supply issues in Canada, and a persistent black market pushed most cannabis stocks into steep losses last year.

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