Marijuana Business News

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stocks
business
Fri
12
Jun

Illinois recreational marijuana sales set another record in May with more than $44 million in transactions despite the coronavirus

Recreational marijuana sales in May set another monthly record in Illinois, with more than $44 million in transactions, state officials reported Thursday, despite limitations due to the coronavirus.

State residents spent about $34 million on cannabis, and out-of-state visitors purchased an additional $10 million, for a total of $44.3 million.

That surpassed the previous record of $39 million set in January, the first month of legal adult use recreational sales.

Fri
12
Jun

Cannabis Beverage Market To Hit $1.82B By Year's End

CBD & THC INFUSED DRINKS TO BENEFIT FROM “THE LIPSTICK EFFECT” AS CONSUMERS SEEK OUT SMALL LUXURIES DURING COVID-19 LOCKDOWN AND BEYOND

Fri
12
Jun

As Medical Cannabis Industry Booms, China Remains Quietly on Top

When a new industry really comes into play, it creates a paradigm shift in its wake, a changed world due to new laws, regulations, business possibilities, new lines of revenue, and new collectors of this revenue. When it comes to the burgeoning global medical cannabis industry, while Africa pushes towards a new paradigm shift, China still remains firmly on top…for now.

Fri
12
Jun

Can These Two Marijuana Stocks Make a Big Comeback?

Although many leading marijuana stocks have come back in big numbers, not all who play are winners. It is important to look at both the long and short term numbers to see how a pot stock could perform in the near future. But, the current state of the cannabis industry has made several pot stocks look quite good for the long term. These companies span several areas of the market, and for that reason are quite diverse in their nature. But, with the cannabis industry comes quite a large amount of market volatility.

Fri
12
Jun

This City Plans To Stop Using Marijuana Tax Revenue To Fund Police

Police benefit from marijuana legalization in ways you probably don’t expect. Research shows no longer enforcing marijuana policies allows cops to redirect their attention to solving more pressing crimes, including burglary, theft, and property crimes. But multiple states and municipalities also allocate legal marijuana tax revenue to police budgets.

Thu
11
Jun

Market research firm predicts global cannabis sales to reach $20.4 billion this year

Global cannabis sales are expected to surge 38% to $20.4 billion this year despite the coronavirus-induced recession, according to new research from Arcview Group. 

The market research company released the 8th edition of its The State of Legal Cannabis Markets report this week, which also predicted sales will climb to a whopping $46.8 billion in 2025. 

Other highlights from the report include insights and statistics on both new and established legal cannabis markets in the U.S.

Thu
11
Jun

U.S. Cannabis Operators Eyeing Canada for Bankruptcy Protection

The recent filing for Canadian bankruptcy by cannabis company Green Growth Brands is perhaps another sign that U.S-based multistate operators are looking north for potential solutions amid increasing distress in the industry.

While such protection remains out of reach in the U.S. because of marijuana’s federal illegality, Canadian law is an option to explore even as it remains unclear exactly what avenues are available.

Green Growth’s move appears to be based on the reality of its parent company being an Ontario-based entity even as the company’s assets are largely licensed in the U.S.

Thu
11
Jun

U.S. state of Kentucky sees number of hemp licenses dip slightly

The number of hemp licenses granted in the U.S. state of Kentucky has dropped to 960 going into this year’s planting season, down from 978 last year, state agriculture officials announced.

And while the state said those licenses could translate to 32,000 acres under hemp in 2020, according to the Kentucky Department of Agriculture (KDA), 157 stakeholders applied for licenses only to store hemp left over from last year’s harvest, as the current oversupply of biomass destined for CBD production – in the USA and worldwide – takes its toll on Kentucky stakeholders. More than 90% of Kentucky hemp farmers grew for CBD in 2019.

Wed
10
Jun

Hemp Went Up Then It Went Down: What’s Next?

When hemp and cannabidiol (CBD) finally hit the stock market – after decades of nationwide prohibition – many investors saw an opportunity. However, in 2019, much of the optimism behind hemp’s stock jump came tumbling down – namely due to an overabundance in products and lack of demand for this quantity.

So, where can we expect the hemp stocks into the future?

Wed
10
Jun

Why Does California Still Have a Black Market for Cannabis?

California was the first state to pass legislation for medical marijuana, and it was among the first to generate a legal adult-use weed industry. After just two years of operation, the recreational dispensaries have generated over $1 billion in tax revenue, which has gone to fund childcare and anti-drug programs for the state’s youth, environmental initiatives like park maintenance and wildland restoration and public safety grants for local police and fire departments. It is amazing to see so many good things come from the simple act of legalizing marijuana.

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