Marijuana Business News

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stocks
business
Wed
15
Dec

Mission hemp farm opens, growth in industry expected

hemp farm

On Tuesday afternoon, hundreds of hemp trees swayed their fragrant leaves in the wind in the greenhouse of a Mission hemp farm.

“We are not aware of anybody doing this type of volume actually south of Houston,” said Roberto Morales, owner of Healing Bloom Farm.

Healing Bloom handles all parts of production in-house with the main product being CBD oil, according to Morales.

“We are not aware of a facility this size going from seed to shelf, and my goal is to produce oil, a lot of CBD oil, to make a difference in people’s lives,” said Morales.

Morales said he has a family member who has suffered from seizures and was prescribed CBD oil, but at the time a 30-milliliter bottle would cost around $300.

Wed
15
Dec

Three recreational marijuana businesses in Framingham, three hope to join them

black leaf

Three Framingham adult-use marijuana businesses have opened their doors and three more are on the way.

Currently, Nova Farms and Cultivate operate on Worcester Road (Route 9) and Temescal Wellness is on Cochituate Road (Route 30). Three other businesses are on their way to opening — but it may be a while.

“This is a new industry that was previously illegal, and it’s highly regulated, and so for good reasons there is a very onerous process, both at the state level and at the local level, to vet out these businesses that are going to be operating in our communities,” said Thatcher Kezer, Framingham's chief operating officer.

Tue
14
Dec

Could Cannabis Legalization Harm Innovative Industrial Properties Stock?

stock pic

When it comes to real estate investment trusts (REITs) in the cannabis industry, Innovative Industrial Properties (NYSE: IIPR) is the first among equals. IIP holds 76 marijuana-cultivation properties, and I like to joke that it's the industry's landlord. It's also one of my highest-conviction stocks.

The prospect of marijuana legalization has profound impacts for every player in the business, and IIP is no exception. I've spoken with a few of the stock's skeptics, and their refrain is always the same: Things are great right now, but legalization will wipe it out, so don't touch it. As a shareholder, I don't believe that this argument is true -- but let's break the issue down into bite-sized pieces to analyze it.

Tue
14
Dec

European Union Increases THC Level For Industrial Hemp. Why Does It Matter?

european union

The European Parliament approved on November 24 to increase the THC level from 0.2% to 0.3% for hemp crops used for industrial purposes.

The rise of the THC level for industrial hemp is part of the measures of the new Common Agricultural Policy (CAP) reforms, which will enter into force in 2023. 

Farmers may receive EU subsidies if they use hemp varieties registered in the EU catalog with a maximum THC level of 0.3%.

The European Industrial Hemp Association (EIHA) has made this achievement possible, representing the common interests of European hemp farmers.

Tue
14
Dec

Mike Tyson's Cannabis Products 'Personally Tested And Approved' By The Legendary Boxer Reach California

boxing gloves

Legendary heavyweight boxer Mike Tyson’s cannabis brand is now available in California. His cannabis company Tyson 2.0 confirmed Tuesday that its premium quality cannabis line is now available at more than 100 retailers across The Golden State. (Originally posted by Benzinga)

 “We are focused on bringing Tyson 2.0 premium cannabis products to retailers nationwide and after a strong debut in Colorado, we are now available across California in over 100 retail outlets marking a major milestone for the company,” Adam Wilks, CEO of Tyson 2.0 told Benzinga.

Mon
13
Dec

High school buddies launch CBD company in Sandston

cbd

A trio of old high school buddies are behind a new player in the local CBD scene.

VA Harvest, which sells CBD extracts and cremes in stores and online, launched in November.

The company has a budding retail presence, with products on shelves at grocery store Ellwood Thompson’s and Fan wellness store Blossom RVA, co-founder Bill Wingfield said. The company plans to expand locally and across the southeastern part of the country.

It also sells products through its website. The company’s 30 ml extracts are priced at $98 on the site, the same price as its 1 ounce topical creme.

VA Harvest plans to launch CBD products aimed at animals in the spring.

Mon
13
Dec

A Michigan company is expanding in Missouri’s burgeoning marijuana market

leaf

Missouri’s cannabis industry continues to attract businesses and create jobs.

A multistate company based in Michigan is opening a cannabis processing facility this month in St. Louis. It is also partnering with another company on a cultivation operation in O’Fallon.

“I think Missouri is a rather competitive market,” said C3 Industries CEO Ankur Rungta.

“We think there is a healthy amount of demand for our products in a market like this.”

C3 Industries already has a foothold in Missouri. The company has opened medical marijuana dispensaries in St. Charles, Columbia, St. Robert, Cape Girardeau and Sunset Hills.

Mon
13
Dec

Cannabis Is Starting to Get Hit by Supply-Chain Shortages

cannabis on white

Lunar New Year is a looming threat

Getting basic materials like ceramics, stainless steel and computer chips from China has gotten so difficult that its about to hit one of the few industries that has so far been insulated from supply-chain woes: U.S. cannabis.

Mon
13
Dec

Betting on themselves, sisters-in-law open Pepperell’s first cannabis dispensary

open sign

Nearly two years after they made their initial pitch to the Select Board, sisters-in-law Priyanka and Tejal Patel finally saw their dream made a reality as they opened Uma Flowers, Pepperell’s first recreational cannabis store last week.

With the snip of some novelty sized scissors and town officials — including Select Board Chair Margaret Scarsdale, Town Planner Jenny Gingras and Town Administrator Andrew MacLean, in attendance, Uma Flowers officially opened its doors Wednesday, Dec. 8, after a soft launch the Sunday before at 2 Tarbell St.

Customers will be able to purchase products online for the first six weeks of operation, after which they can purchase on-site as well.

“It’s a dream come true,” Priyanka Patel said.

Fri
10
Dec

Why Tilray, Aurora Cannabis, and Canopy Growth Are Glowing Green

green plant

Wells Fargo just shouted "sell!" -- but investors bought cannabis stocks instead.

What happened

A funny thing happened in the cannabis market today. Analysts at investment bank Wells Fargo initiated coverage across the sector, warning of overvaluation among marijuana companies and suggesting investors turn their attention to hydroponics suppliers instead -- but marijuana stocks leapt higher anyway.  

As of 12:35 p.m. ET, shares of Tilray ( TLRY -6.97% ) are gaining 4.6%, and both Aurora Cannabis ( ACB -4.41% ) and Canopy Growth ( CGC -6.76% ) are up 7.1% each.

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