Cannabis Stocks Archives - Page 7 of 16

WednesdayOct 16, 2024 10:00 am

Marijuana Regulators Withhold Certification from Social-Equity License Winners

The state of Missouri recently awarded social-equity cannabis dispensary licenses to lucky lottery winners. Among them was David Huckins, a disabled veteran who learned in June that he’d be receiving 1 of 57 microbusiness licenses that the state stipulated would be awarded to disadvantaged business owners. Those who fit this description include disabled veterans, individuals with nonviolent cannabis offenses and those with lower incomes. This program is part of the constitutional amendment to legalize the recreational use of cannabis that voters approved in 2022. Under the amendment, the program would award 33 wholesale licenses for cultivation facilities and 24 dispensary…

FridayOct 11, 2024 10:00 am

Research Explores How Adult-Use Legalization in Canada Affects Medical Marijuana

On Oct. 17, 2018, the Canadian government legalized the recreational use of marijuana. Given the legislation’s upcoming sixth anniversary, one researcher believes the time has come to assess how the process has impacted the medical marijuana market. Associate professor Michael Armstrong, who specializes in operations research, conducted a new study demonstrating that while recreational legalization did see fewer patients remain in the medical market, the medical program is still running. Armstrong reveals that following recreational legalization, many individuals left the medical marijuana system, some of whom shouldn’t have been there in the first place. Data from the study reveals that…

WednesdayOct 09, 2024 4:20 pm

420 with CNW — Arkansas Disqualifies Medical Cannabis Amendment for November Poll

John Thurston, Arkansas secretary of state, has rejected a proposed amendment aimed at broadening access to medical cannabis. Thurston announced on Aug. 31, 2024, that the group advocating for the reform, Arkansans for Patient Access, had not gathered enough valid signatures to qualify for inclusion on the ballot. The organization had been given an additional 30 days to collect more signatures but ultimately fell short of the required 90,074 valid signatures. According to Thurston, only 10,521 of the signatures collected throughout the extended period were verified as legitimate. When added to the previously accepted signatures, the total reached 88,040, falling…

WednesdayOct 09, 2024 10:00 am

Marijuana Company Sues TV Stations, GOP over Misleading Campaign Ads in Florida

Last week, Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) filed a suit against the GOP, accusing the party of launching a misleading campaign to deceive voters about a proposed amendment that will permit the recreational use of cannabis. Trulieve, which is the biggest medical cannabis company in Florida, stated in its lawsuit that the owners of a pair of television stations based in Fort Myers, Floriday, were running a false advertisement trying to fool voters in the state into voting against Amendment 3. The lawsuit explained that the Republican Party knew that the claims made in the ad were intentionally…

MondayOct 07, 2024 10:00 am

Minnesota’s Medical Marijuana Industry Could Be Impacted by Launch of Recreational Sales

In May 2023, Minnesota Governor Tim Walz signed House File 100 into law, legalizing the recreational use of marijuana in the state. The law went into effect on Aug. 1, 2023, making it legal for Minnesotans to use, possess and grow marijuana in the state. The state is about three months away from allowing retailers to sell and purchase recreational marijuana. Experts expect the medical marijuana industry to be negatively affected if transitions in other states are anything to go by. Data from the Cannabis Regulatory Agency in Michigan shows that in August 2024, medical-marijuana sales totaled about $1.2 million,…

FridayOct 04, 2024 10:00 am

Kentucky Issues First Medical Cannabis Business License

Last week, the state of Kentucky awarded the first license for its medical marijuana program to KCA Labs. The state legalized medical marijuana in March 2023, following the signing of SB 47 into law by Governor Andy Beshear. SB 47 legalized the use of medical marijuana for individuals suffering from various debilitating diseases, including multiple sclerosis, cancer, epilepsy, post-traumatic stress disorder, chronic nausea and chronic pain. Following the legislation’s passage, the governor signed a follow-up measure in April that reduced the timeline for licensing marijuana businesses, allowing the licenses to be awarded this year. Governor Beshear announced that granting this…

WednesdayOct 02, 2024 10:00 am

Premium Cannabis Brands See Steady Sales Amid Unstable Economy

Amid a shaky economy, the marijuana industry seems to be thriving, with many premium brands raking in huge profits. Brand Marketing VP at Cresco Labs Inc. (CSE: CL) (OTCQX: CRLBF), Dana Mason, argues that consumers want the best and individuals who appreciate premium products are willing to pay more. Exclusivity, which is characterized by limited availability and high prices, is the primary element of luxury goods. In a recent interview, representatives from different premium cannabis brands operating in various categories revealed how they were doing in today’s economy. Under the marijuana edibles category, there is Cresco Labs, which produces Mindy’s…

MondaySep 30, 2024 10:00 am

Federal Agency Looks into Questions Regarding Marijuana Use by Cancer Patients

The National Cancer Institute recently published scientific articles on cancer and cannabis to help individuals better understand questions they may have on how patients perceive marijuana. The articles, which were published in a special issue of the “JNCI Monographs,” discuss the results from federal surveys on patients from cancer centers in different parts of the country. This includes areas where marijuana is still outlawed, allowed for medical use only or is legal. In the introduction, the National Cancer Institute explained that the project’s objective was to address major gaps in knowledge in our understanding of marijuana and cancer. This would,…

FridaySep 27, 2024 10:00 am

Missouri Plagued by Predatory Contracts in Marijuana Social Equity Program

Last year, Destiny Brown was told that she had been recruited to operate and own a small marijuana dispensary in Missouri. Michael Halow, a marijuana investor, informed Brown that the cannabis crime on the criminal record of her father and her status as a disabled veteran made her qualified for a microbusiness license. These qualifications had been designed for licenses like these to be awarded to disadvantaged owners of businesses, such as individuals with nonviolent cannabis offenses and lower incomes, as well as those who are disabled veterans. Brown, a Black woman, was also under the impression that she would…

WednesdaySep 25, 2024 10:00 am

Cannabis Sales in New York Could Exceed $1B This Year Despite Rocky Market Launch

Marijuana retailers in the state of New York raked in more than $429 million in revenue between January and August of this year. Just last month, sales made each week exceeded $20 million for the first time ever. New York made marijuana legal in March 31, 2021, following the approval of the Marijuana Regulation and Taxation Act. However, the state’s first sales were recorded in December 2022. The Office of Cannabis Management’s deputy director of policy, John Kagia, stated that while some momentum had been lost in 2023, the office had known that with enough effort and time, the market…