A grassroots effort to decriminalise cannabis in Finland has taken a step forward this week, with a citizen’s initiative exceeding the required 50,000 signatures to submit it to parliament.
Rather than legalise cannabis, the initiative proposes decriminalisation which would discharge the penalties for using cannabis; owning a small amount of it for personal use; and growing a few plants at home.
Over the next decade, marijuana is projected to be one of the fastest growing industries. Having already more than tripled sales on a worldwide basis between 2014 and 2018 to $10.9 billion, the industry has some Wall Street forecasts calling for $50 billion, $75 billion, or even $200 billion in annual global weed sales by 2030. Figures like these are what make marijuana stocks such an attractive investment opportunity.
The cannabis industry hit a series of important milestones recently, but none bigger than Canada's becoming the first Western developed nation to legalize recreational uses of pot. The highly anticipated event had marijuana companies giddy with excitement, while investors drooled over the enticing prospects the Canadian market offered. But one year after the fact, optimism has largely subsided, as cannabis companies have not performed nearly as well as expected.
It's harvest season for California's largest cash crop - marijuana. Valued at more than $11 billion, it's worth more than the states grape and almond industries combined. California grows more pot than any place in the country.
Three years ago, voters approved a ballot measure called Prop 64 in California. It made marijuana legal for anyone over the age of 21. Advocates said a regulated pot industry would push out the black market and generate more than a half billion dollars a year for the state.
So has it worked? Not quite.
VAUGHAN, Ont. -- CannTrust Holdings Inc. says John Kaden has resigned as a member of the cannabis company's board of directors.
The company says Kaden stepped down to focus on his role as co-founder, managing partner, and chief investment officer of Navy Capital Green Management LLC.
CannTrust has been under fire since it disclosed in July that Health Canada had discovered illicit cultivation in unlicensed rooms at its Pelham, Ont., greenhouse.
U.S. Democratic presidential candidate Pete Buttigieg says he’s used marijuana and thinks Americans should be able to do so legally.
The Associated Press reports the confession came out when the 37-year-old mayor of South Bend, Indiana and military veteran spoke to reporters outside a legal pot shop in Las Vegas.
“I have. A handful of times a long time ago,” he said, adding that people stigmatize the industry because of antiquated beliefs.
More layoffs in Canada’s cannabis sector this morning. Embattled grower Canntrust Holdings Inc announced last night that it was laying off 140 workers, a quarter of its workforce, between late October and the end of the year. Canntrust lost its licence to produce and sell cannabis in September, months after Health Canada found it was growing pot in illegal spaces.
As more consumers begin to use marijuana products, e-commerce is becoming a more viable option for the cannabis industry. In recent decades, the retail sector has changed dramatically.
Cannabis commercialization
However, the transition to a digital business is not as simple as it seems for certain sectors. Specifically, the cannabis industry has faced numerous legal barriers. Which has prevented it from expanding into the digital market.
