The House Veterans’ Affairs Committee on Thursday advanced two bills related to medical marijuana use for veterans.
The first measure, sponsored by Rep. Lou Correa (D-Calif.), would require the Department of Veterans Affairs (VA) to research the effects of medical-grade marijuana on the health outcomes of veterans with conditions like chronic pain and post-traumatic stress disorder (PTSD).
Lebanon's parliament is set to vote on a law that would legalise the cultivation of cannabis for medical and industrial use in an effort to boost its crippled economy and curb illicit production of the psychoactive plant.
The draft law, which has been endorsed by parliamentary committees and is now headed for a final vote, would only affect cannabis that contains less than one percent of the psychoactive compound tetrahydrocannabidinol, or THC.
Advocates for equity in the cannabis industry hope to see more diversity among licensees if a bill approved by the Legislature gets the governor’s signature.
The legislation, which passed through the House 57-40 Tuesday, creates a task force that will help create the Marijuana Social Equity Program. It would allow the Liquor and Cannabis Board (LCB) to issue forfeited, canceled and revoked retail licenses to applicants in communities disproportionately impacted by the war on drugs. The program would last for eight years.
The marijuana industry is very volatile right now. On Monday, cannabis stocks crashed hard. The Horizons Marijuana Life Sciences ETF fell 9.5%. The crash was mainly fueled by the global stock market fall due to fear about the coronavirus and declining oil prices. None of the concerns impact the marijuana industry directly. However, I wouldn’t say that marijuana stocks are safe either. So, should you consider investing in marijuana stocks in March?
In light of the cannabis industry's ongoing bear market, restructuring has been framed as a necessary option for companies looking to stay afloat.
Perhaps most devastating are the job losses affecting thousands of staffers throughout the cannabis industry.
Companies that have conducted layoffs recently include Tilray Inc TLRY and Aurora Cannabis Inc ACB 0.07%, both of which reducing their workforces 10% in a bid to stanch losses.
Sen. Steve Dickerson's medical marijuana bill passed through the Tennessee Senate committee on Wednesday afternoon with a vote of 6 to 3.
However, there was a last-minute amendment added by Republican Senator Bo Watson (R-Hixson) that would only allow the bill to happen if marijuana is rescheduled as a Schedule 2 substance federally. The committee also voted to pass the amendment 6 to 3.
Senator Dickson, a Republican Nashville lawmaker, is in his fifth year of bringing forth legislation that would legalize certain forms of cannabis for medical use.
Just two months into adult-use legalization and Illinois dispensaries are selling more than a million dollars of legal cannabis—per day.
That number is based off revenue from steep taxes on legal sales. The state reported $10 million in cannabis tax revenue for the month of January, Gov. JB Pritzker’s office reported Feb. 24. The report shows how legalization is off to a roaring start in the Land of Lincoln.
Shares of Aurora Cannabis (NYSE:ACB) were up 3.4% as of 11:26 a.m. EDT on Tuesday after rising as much as 12.6% earlier in the day. The Canadian cannabis producer didn't have any news of its own. Instead, today's move is part of an overall rebound for the stock market after Monday's massive sell-off.
Exchange-traded funds that invest in cannabis stocks rebounded Tuesday, one day after a global equity rout dropped them to all-time lows.
The $509 million ETFMG Alternative Harvest ETF (MJ.P) gained 2.2% in afternoon trade, while the $318 million Horizon Marijuana Life Sciences ETF (HMMJ.TO) rose 1.8% during a market rally that pushed the U.S. benchmark S&P 500 up nearly 2.8%.
