Cannabis Stocks Archives - Page 8 of 16

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…

MondaySep 23, 2024 10:00 am

Bipartisan Cannabis Legalization Bill Filed in Pennsylvania

Last week, Democratic Representative Emily Kinkade and GOP Representative Aaron Kaufer filed a measure that would legalize the use of recreational cannabis by adults in the state of Pennsylvania. The measure, dubbed HB 2500, was cosponsored by 15 additional legislators in the House of Representatives. The measure also places the state’s agriculture department in charge of the production and sale of medical cannabis and adult-use marijuana. The state legalized medical cannabis in 2016. If approved, the legislation would permit the regulated sales of recreational cannabis to individuals 21 years of age and older, and adults would be allowed to purchase…

FridaySep 20, 2024 10:00 am

First Cannabis Spa Opens in Denver

Pure Elevations, a new business that recently opened its doors, is the first cannabis spa in Denver. It is also the first business where individuals can purchase and consume cannabis in the city. Consumers are allowed to buy cannabis products and use topicals or consume edibles inside the spa. Individuals can also smoke in the store’s consumption lounge. Owner Rebecca Marroquin revealed that the business would be working together with Mary Jane’s Medicinal. The latter’s infused massage oils will be used in all services the spa offers to customers, from inner-body treatments and massages to nail services. Marroquin added that…

WednesdaySep 18, 2024 4:20 pm

420 with CNW — Trump Backs Ongoing State, Federal Cannabis Reforms

Donald Trump reaffirmed his support for legalizing recreational cannabis in Florida earlier this week. He also expressed his approval for rescheduling marijuana at the federal level and advocated for removing banking restrictions on state-licensed cannabis businesses. While he hasn’t endorsed ending the federal ban on marijuana, U.S. presidential candidate Donald Trump has made comments that suggest he’s aware of its potential political influence. His remarks came just ahead of his first debate with Vice President Kamala Harris. Trump's support for Amendment 3, which he first hinted at in August, could potentially boost the initiative. If passed, the amendment would allow…

WednesdaySep 18, 2024 10:00 am

Could US Be Seeing End of Divisiveness on Marijuana Policy?

Recent developments on the political front in the United States are signaling greater acceptance of marijuana in the country. Public approval of the drug has grown considerably, with the medical use of marijuana being legal in 38 states, 4 territories and the District of Columbia. Recreational marijuana is also legal in 24 states, the District of Columbia and 3 territories. This represents about 53% of the country’s population. These jurisdictions now tax and regulate marijuana sales similar to alcohol. Voters in other parts of the country are also set to vote on the same in the upcoming elections. However, marijuana…

MondaySep 16, 2024 10:00 am

Ohio Cannabis Retailers Bag Estimated $50M in First Month of Adult-Use Sales

Recently released data shows that recreational cannabis sales in the state of Ohio have exceeded $50 million since sales were launched in August. This comes after voters in the state passed Issue 2, a ballot initiative that legalized the recreational use of marijuana in November 2023. According to the initiative, licensed sales were to begin on Aug. 6, 2024. Individuals aged 21 years of age and older can possess 15 grams of edibles or extracts and no more than 2.5 ounces of marijuana. The Division of Cannabis Control revealed that dispensaries had sold almost $54.6 million in recreational marijuana products…

FridaySep 13, 2024 10:00 am

US Marijuana Brands Looking to Tap International Opportunities

The rise in demand for American marijuana products in Europe has driven some brands to spread their wings globally. Some of the companies targeting global growth represent a growing section of the industry, with some cannabis operators finding that expanding internationally is easier than navigating regulations in the United States. Lehua Brands, a manufacturer of infused drinks based in California, is one of these brands. The company’s CEO, Sierra Elaina, stated that issues such as market oversaturation, overtaxation and issues with distribution were affecting those involved in the industry. The company isn’t dealing with these issues in the Canadian market,…

WednesdaySep 11, 2024 10:00 am

Kentucky Receives Almost 5,000 Medical Cannabis Business Applications

New data released by the state of Kentucky shows that almost 5,000 applications were submitted by businesses in the state to acquire licenses to sell medical cannabis. This comes after the state legalized medical marijuana for Kentuckians with different debilitating illnesses in March 2023, when SB 47 was signed into law by Governor Andy Beshear. The application period for those who wished to participate in the state’s medical marijuana program ran from July 1 to Aug. 31, 2024, with 88% of the applications coming in during the last four days. Applicants were only allowed to file applications for one type…

MondaySep 09, 2024 10:00 am

Harris Campaign Pokes at Trump’s ‘Flip-Flopping’ on Marijuana Policy

Recently, VP Kamala Harris’ campaign penned a memo criticizing former president Donald Trump for boldly flip-flopping on various issues, including cannabis reform. In the memo, the campaign accused Trump of making things up just months before the election. This comes after Trump indicated in a social media post that he supported a ballot initiative that would legalize the recreational use of cannabis in the state of Florida, where he resides. In his statement, the former president requested that the state legislature ban the use of cannabis in public spaces, then he added that individuals need not be termed as criminals…