Marijuana Business News

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stocks
business
Mon
11
Nov

The small African kingdom that’s perfect for growing cannabis, but maybe not for regulating it

Dawn breaks in the village of Marakabei, two and a half thousand meters up in the remote highlands of Lesotho, the landlocked kingdom surrounded by South Africa. Cowbells tinkle. Smoke from cooking fires rises above homes along the steep hillsides. An old donkey path winds around the edge of a peak. 

And then there are the workers walking it, each wearing overalls in a color denoting their function—blue for construction, green for cultivation. At the end of the path, they press their thumbs to a biometric scanner, pass through a turnstile, and enter a different world.

Mon
11
Nov

In their first year, U.S. hemp farmers struggle with bad weather, mold, inexperience

Ajit Singh strode across his 16-acre hemp field toward a broken-down harvester. He’d been hoping all day that the mechanic now crouched beside the machine could get it back up and running.

It was late October and Singh still had thousands of stinky green and purple cannabis plants across 425 acres to pick, dry and sell before winter. Like many hemp growers here in Jackson County, Oregon, he was harvesting slowly, facing a mold problem and unhappy with prices offered by potential buyers.

Mon
11
Nov

What new federal hemp rules mean for Idaho

Attorneys representing a Colorado-based company suing the Idaho State Police for seizing a shipment of hemp in January are pointing to new federal rules governing hemp production and transport to bolster their legal arguments.

The new rules also mean the Ada County Prosecutor’s Office will not prosecute people who are transporting hemp grown under 2014 and 2018 federal legislation in states where it is legal to do so, provided there is full compliance with the rules and proper documentation.

Mon
11
Nov

These 2 States are sabotaging their respective marijuana industries

At this time last year, the cannabis industry looked as if it would be practically unstoppable. Canada had just become the first industrialized country in the world to legalize recreational marijuana, and Wall Street was throwing out huge estimates on future industry growth. In fact, earlier this year, investment bank Stifel forecast $200 billion in annual global sales by the end of the upcoming decade.

Mon
11
Nov

5 years of legal marijuana could bring Minnesota $300M in revenue, expert says

Five years of legal recreational marijuana in Minnesota could generate $1.12 billion in sales, $300 million in tax revenue and 20,000 jobs, an industry expert estimates.

MinnPost reports the analysis came from Sal Barnes of the Marijuana Policy Group, who spoke at the CannConMN Symposium, a conference on the impacts of cannabis legalization.

Barnes told the conference that as Minnesota moves toward legalizing marijuana for recreational use, leaders must be careful with the number of licenses they issue. He said Colorado has an effective number of licenses because it makes for a competitive market that isn’t so expensive it drives people to buy cannabis illegally.

Mon
11
Nov

More commercial cannabis growers are choosing greenhouses: What are the options?

For growers interested in entering or transitioning to cannabis production, one of the first decisions to make is where it will be grown. Options include outdoor, indoor facilities, and a mix of the two, greenhouses.

Greenhouses are growing in popularity among cannabis growers. In fact, many cultivators are switching to greenhouses since they are usually a more efficient means of production. Greenhouses combine the control and protection offered by an indoor facility with the cost-saving, natural light of growing outdoors.

Fri
08
Nov

1 massive problem for the cannabis industry that needs to be addressed immediately

The cannabis industry has been growing significantly in recent years as legalization has progressed in many states, with 11 having passed legislation for recreational use and more states likely following suit. In addition, the farm bill was passed nearly a year ago which allowed cannabidiol (CBD) to be permitted federally so long as it was derived from hemp. While these are all good developments, they've taken place even though the country may not have been ready for them.

Fri
08
Nov

Short sellers are increasing bets on cannabis stocks even after summer selloff

Short sellers have continued to build positions in the cannabis sector, even after a broad re-rating of risk following a steep summer selloff, according to financial analytics firm S3 Partners.

“Bearish speculators have strong conviction maintaining short exposure in the cannabis sector, despite the high borrow/carry costs,” said Matthew Unterman, director at the New York-based firm.

Fri
08
Nov

Colorado: 7-Eleven now has CBD vending machines

The machines ensure that their products stay fresh, but they also track consumer data, recording which products have had the most success and which haven’t.

High-tech CBD vending machines are a thing now, populating select 7-Eleven stores in Colorado. The mega-chain is the latest to join other large brands, such as CVS and Walmart, in conveniently distributing CBD products across the U.S..

Fri
08
Nov

Ontario announces click-and-collect system for private cannabis retailers

The Province of Ontario announced earlier this week that private cannabis retailers will be allowed to sell products by phone or online to be picked up in store.

Until now, the only retailer that could sell cannabis online was the provincially run Ontario Cannabis Store. Provincial Finance Minister Rod Phillips made the announcement as part of the provinces’ fall economic statement saying they will continue to combat the black market and reduce waiting times for cannabis. The new “click-and-collect” system will allow consumers to search multiple retailer websites, choose their products and pick them up at the retailer they choose.

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