Marijuana Business News

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stocks
business
Mon
08
May

11 highly influential people who support legalizing marijuana

The legal-marijuana industry is on one heck of a run. Last year, five states legalized the use of medical cannabis for select ailments, pushing the number of states that have chosen to allow physicians to prescribe cannabis past the halfway mark (28 states). We also witnessed the number of recreational-pot states double to eight from four.

The result has been a steady increase in North American legal weed sales (including Canada, which legalized medical marijuana back in 2001). Cannabis-research firm Arcview estimated a 34% increase in North American legal sales to $6.9 billion last year alone.

Mon
08
May

Seven surprising signs of marijuana's normalization in America

A new survey from Yahoo News and Marist College examines Americans' relationship with marijuana, and it shows some surprising signals about how far acceptance of the herb has come. Pot is no longer a dirty little secret, to be consumed furtively and hidden from friends and family, and it's no longer limited to the fringes.

Marijuana is going mainstream and is now part of everyday life for millions of Americans. Here are seven signs of weed's newfound normalization:

1. More American adults have tried marijuana than have not. The survey found that 133 million adults have tried pot, while 115 million have not.

Mon
08
May

Why this marijuana stock rallied higher in April

What happened

After naming former Purdue Pharma chief commercial officer Saeed Motahari as CEO and reporting 2016 earnings, shares in Insys Therapeutics' (NASDAQ:INSY) increased 7% in April, according to S&P Global Market Intelligence.

So what

The C-suite has been in flux since former CEO Michael Babich resigned in 2015 following allegations of improper marketing of Insys Therapeutics' fentanyl spray, Subsys.

Fri
05
May

Green light for medicinal cannabis in Western Australia

AUSTRALIAN drug regulators have granted what is believed to be the first licence to grow medical cannabis in WA.

AusCann, whose chairman is former WA Federal Liberal MP Mal Washer, will announce today that it has approval for a secure outdoor cultivation facility in WA, and hopes to have its first locally grown product ready next year.

The licence was granted by the Office of Drug Control and makes AusCann one of only a few companies to be given approval in Australia.

Fri
05
May

Better Know a Marijuana Stock: Aurora Cannabis

Marijuana stocks are on fire, and growth in the legal weed industry certainly has the attention of investors.

According to cannabis research firm ArcView, legal pot sales in North America jumped 34% in 2016 to a record $6.9 billion. Per ArcView, sales of legal weed could grow to reach more than $22 billion by 2021. A similar bullish sentiment is shared by investment firm Cowen & Co., which believes legal marijuana sales could hit $50 billion by 2026. With ArcView estimating that $46.4 billion in cannabis sales last year came from the black market, there's ample reason to believe that legal channels can lure in these under-the-table consumers in the years to come.

Fri
05
May

A Racial Equity Test for Medical Cannabis in Maryland

The movement for racial equity in the medical cannabis trade appears to be going bipartisan—last week, Maryland’s Republican governor, Larry Hogan, ordered the state to conduct a study on whether racial disparities exist in the process for obtaining a state license for growing or selling medical marijuana.

Fri
05
May

How Regulated Cannabis Will Affect Workers

Expect legalization to create drastic changes in the way canna workplaces are regulated and product is produced. In the U.S. a legalizing marketplace may mean lower wages, but it will probably mean better working conditions. Across Europe, legalization is being seen as one way to crack down on slave labor as much as standardize product.

As cannabis becomes a legal commodity in both the U.S. and Canada, the production and distribution of the market becomes more structured. This means that the industry can start to produce higher volumes. However, by definition, this also means something else. The specialised workforces that have grown up around the industry are facing massive changes. Automation is making its presence felt.

Fri
05
May

Southeast Cannabis Convention & Expo coming to Ft. Lauderdale

The public is invited to attend the Southeast Cannabis Conference & Expo, held at the Greater Ft. Lauderdale / Broward County Convention Center from June 9-11.

The first annual Conference on Medical Marijuana will bring together leaders in the field of medical marijuana policy, industry and application for a comprehensive overview of this rapidly expanding area of economics, research and development. Just announced, Montel Williams will discuss his personal journey with cannabis during his keynote address.

This conference is a gathering of entrepreneurs, patients, job seekers, advocates, scientists, doctors, others working in field and just curious citizens who just want to know more as Florida races toward a more advanced marijuana policy.

Fri
05
May

Loblaw watching marijuana legislation, says Galen Weston

The CEO and chair of Loblaw Companies says he hasn't ruled out the possibility of selling recreational marijuana, a slight shift in position for Canada's largest grocery and drugstore chain.

Galen G. Weston said his focus remains on dispensing medical cannabis. But when asked whether Loblaw has closed the book on entering the recreational marijuana market, Weston said, "You can never predict the future," adding that the company is closely watching for more details about the federal government's proposed legalization of the drug.

"It's fair to say that at this point, based on everything we know today, medical is a place where we see an opportunity," Weston said at Loblaw's annual general meeting.

Fri
05
May

New Data Shows Medical Marijuana Consumers Far Outspend Recreational Users

In a data-driven business environment, everyone is waiting on the latest statistical reports to show what directions consumer spending -- an obvious clear indication of consumer attitudes -- is heading. As a relatively new industry, the legalized marijuana sector still is working on how to best serve consumers and discern trends to sort out the hype from the reality.

That’s created a whole new side business in marijuana: data analytics.

A company that has stepped to the forefront in this area is New Frontier Data. The company has partnered with Baker Technologies, which provides customer relationship management and marketing automaton platforms to cannabis businesses, for access to an immense database of legal marijuana transactions.

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