Cannabis Stocks Archives - Page 13 of 16

WednesdayMay 15, 2024 10:00 am

Officials Highlight Areas of Failure as Cannabis Program in New York Is Overhauled

Major changes are being made at the Office of Cannabis Management (OCM) in New York State after the governor directed that a review be conducted. The review, as ordered by Governor Kathy Hochul, led to the discovery that New York’s rollout of legalized recreational cannabis had been a failure. One report, released last week, cites an underspent budget and inexperienced leadership as some of the errors by the office. According to the report, a total of $26 million, which could have assisted in clearing application backlogs, remained unused. In her statement, Hochul announced that the director of the OCM, Chris…

MondayMay 13, 2024 10:00 am

Canadian Medical Marijuana Exports Rise Amid Falling Local Sales

According to statistics from Health Canada, the regulator of the marijuana industry in Canada, exports of medical marijuana from the country have reached a record-setting $189 million as local producers grapple with numerous domestic challenges ranging from prohibitive taxes to cutthroat competition on the domestic market. The current value of exports for the year ended March 2024 marked a 36% increase from exports registered last year ($116.5 million). This notable increase in exports follows a growing trend that saw the country export medical marijuana products worth $5.8 million in the 2019–2020 fiscal year, $28.4 million in 2020–2021 fiscal year and…

FridayMay 10, 2024 10:00 am

Defense Lawyers Group Urges Biden to Release Prisoners Serving Marijuana Sentences

NACDL, the National Association of Criminal Defense Lawyers, has written a letter to the White House urging President Joseph Biden and his administration to decriminalize cannabis and also commute all sentences of individuals in prison over federal cannabis convictions. In their letter, the association says it is advocating for compassionate release, second chances and the immediate commuting of sentences of those having convictions for nonviolent cannabis offenses. The letter written by NACDL was sent on the same day last week when the U.S. Drug Enforcement Administration (DEA) is reported to have made a decision to reclassify marijuana to Schedule III…

WednesdayMay 08, 2024 10:00 am

Marijuana Reclassification Unlikely to Change Anything for Federal Workers

Steps to change marijuana’s classification at the federal level in America have been initiated by both Congress and the Biden Administration in the last year. On his part, President Joseph Biden directed that a review of federal cannabis law be conducted, and he pardoned thousands who had been federally convicted of simple possession of cannabis. Currently, marijuana is classified under Schedule I of the Controlled Substances Act. Substances under this classification are said to have no accepted medical use and high abuse potential. Other drugs under this classification include LSD, heroin, MDMA, methaqualone and mescaline (peyote). Following a recommendation by…

MondayMay 06, 2024 10:00 am

Prohibitionist Group Says DEA Announcement on Cannabis Rescheduling Coming “Very Soon”

Smart Approaches to Marijuana leaders believe the U.S. Drug Enforcement Administration (DEA) may soon make an announcement on marijuana rescheduling. The DEA has spent the last few months chewing over a recommendation made by the U.S. Department of Health and Human Services (HSS) to move marijuana to Schedule III from its current classification. Now officials of Smart Approaches to Marijuana (SAM), led by president Kevin Sabet, believe the agency will announce its results soon, following chatter from different sources. This has been heard for some months now, with sources mostly leaning toward pro-reform. In the interview, Sabet also revealed that…

FridayMay 03, 2024 10:00 am

American Supreme Court to Hear Trucker’s Case Over Failed THC Test

Recently, the American Supreme Court agreed to hear a case that involves a trucker who filed a lawsuit against a marijuana company after he was terminated over a failed THC test. In the suit, which was filed in October 2023, the trucker alleged that the failed test was caused by the consumption of a CBD product derived from hemp. The trucker, Douglas Horn, sued Medical Marijuana Inc. in 2015 under the Racketeer Influenced and Corrupt Organizations (RICO)Act. He claimed that the company falsely marketed the product as having 0% tetrahydrocannabinol (THC), which led him to try it to manage pain.…

WednesdayMay 01, 2024 10:00 am

Cannabis Retailers Report Brisk Business During 4/20 Weekend

April 20 marks the day when the consumption of marijuana is celebrated globally, with individuals across the globe smoking the drug around 4:20 p.m. The holiday is popularly known as 4/20 and promotes the consumption of marijuana; historically, April 20 is often the best day for business annually for cannabis retailers. Recent reports from cannabis retailers in the United States, backed by industry data and firsthand accounts, show that business this past April 20 was huge. During this holiday, e-commerce and point-of-sale operators as well as retailers experienced considerable increases in foot traffic and revenue. Vendors and retailers handled the…

WednesdayApr 24, 2024 10:00 am

Study Finds CBD Could Effectively Combat Crack-Use Disorder

New research has discovered that individuals who use CBD for crack-use disorder may have fewer adverse health events as well as better health outcomes. This is in comparison to patients who were on conventional treatments. For their study, the researchers conducted a double-blind, randomized, controlled trial where they compared CBD to clonazepam, valproic acid and fluoxetine, which are commonly used to treat crack use disorder. Study participants were 18 to 65 years of age and had either used crack at least 20 times in the last month, used it regularly for the last 12 months, or had an intention or…

MondayApr 22, 2024 10:00 am

North Dakota Group Files Recreational Cannabis Legalization Ballot Measure

Earlier this week, a group in North Dakota filed a ballot measure petition to legalize recreational marijuana in the state. The measure would permit individuals aged 21 years and older to buy products from registered marijuana establishments in the state and possess small amounts of marijuana. For the measure to qualify for the November ballot, the group will have to collect 15,582 signatures from eligible voters by July 8, 2024. In a release, the New Economic Frontier stated that the proposal would promote economic growth in North Dakota and reduce the burden on the criminal justice system. This committee is…

FridayApr 19, 2024 10:00 am

Ipsos Poll Suggests Cannabis, Abortion Ballot Measures Not Certain of Success in Florida

A recently conducted Ipsos poll has found that one-half of Floridians would vote to approve an abortion ballot initiative. The poll included 316 independents, 264 Democrats, and 369 GOP members. It was carried out April 5–7, 2024, with a margin of error of 4.1%. The survey include more than 1,000 adults in Florida, determining that 16% of them were unsure of their positions and/or hadn’t registered to vote. An additional one-third revealed that they were against the amendment on abortion. The poll also found that 49% of Floridians were in favor of a cannabis amendment. Those championing for recreational cannabis…