An amendment that establishes a potency cap of 10% THC for medical marijuana patients under 21 has made its way back to the Florida House floor, where it was tacked onto a larger healthcare bill during a floor session Thursday.
The amendment, which passed with a voice vote on the floor, would not apply to patients 21 and younger with terminal illnesses.
The right to cultivate and sell cannabis in the State of California is a given, but the bureaucratic ease in doing so is not. Times are hard for business owners right now, and those struggles trickle down from top to bottom. Federal legality, competing against the black market, and heavy taxation all weigh heavy on the weary shoulders of this industry—and this doesn’t seem to be letting up any time soon.
Last week, the stock market turned in its worst performance in more than 11 years. When the curtain closed, the 123-year-old Dow Jones Industrial Average, technology-laden Nasdaq Composite, and benchmark S&P 500, declined by 12.4%, 10.5%, and 11.5%, respectively. It also represented the quickest descent into correction territory for the major indexes in history.
Canopy Growth Corp. shares fell 4% Thursday after the Canadian cannabis company announced it was cutting 500 jobs as it reduces capacity by closing two greenhouses and shelving plans for another.
After a massive first month of legalized cannabis sales in the state of Illinois that saw dispensaries rake in nearly $40 million, brisk sales continued in the month of February.
The world's largest cannabis company by market cap is getting smaller in size by shuttering 3 million square feet of greenhouses.
Canopy Growth on Wednesday afternoon announced plans to close two cultivation facilities in British Columbia, resulting in the layoffs of 500 employees. The company also scrapped plans to open a greenhouse in Ontario.
Amid a widespread market selloff due to investor concerns about the COVID-19 outbreak, cannabis companies also have to contend with disruptions involving vaporizer hardware, the vast majority of which is produced in China.
Since the introduction of medical cannabis in America, the cannabis market has had an unprecedented impact on the US healthcare industry. Medical cannabis refers to the use of the cannabis sativa or cannabis indica plant, or its extracts, to relieve the symptoms of or treat various diseases and health conditions.
When Thailand’s first official full-time clinic specializing in traditional and alternative cannabis-based medicine opened in January, hopes were high that the greater access to legal medical cannabis could open doors for the country’s tourism sector to reap the economic benefits of marijuana-inspired travel into Southeast Asia.
With a clean sweep of the American South, former Vice President Joe Biden cruised into the lead for the Democratic presidential nomination on Tuesday night, eclipsing the former frontrunner, Sen. Bernie Sanders, in the total delegate tally.
Biden shot ahead with victories in Alabama, Arkansas, North Carolina, Tennessee, Virginia, and Oklahoma. He also claimed wins in Massachusetts and Minnesota.
Sanders, meanwhile, won the Democratic primaries in California, Colorado, Utah, and Vermont. Texas and Maine remain too close to call.
