As more European countries impose nationwide shutdown orders, leaving all stores except food and pharmacy outlets shuttered, cannabis stores are experiencing a dramatic surge in sales this weekend.
Tensions are running high in Los Angeles over coronavirus-related health concerns, the cancelation of numerous public events and the new normal of working from home. Local cannabis companies and delivery services say they're seeing an uptick in business in these trying times. Angelenos are turning to CBD and THC products to combat anxieties and stocking up like they are with bottled water and toilet paper.
At the urging of caregivers, state lawmakers have stripped a department-sponsored medical marijuana reform bill of provisions to ban small extraction labs, require federal background checks, limit plant size and institute fines for willful violations.
On Thursday, WBRC reported that the Alabama Senate cleared Senate Bill 165. The bill will create the Compassion Act, which legalizes medical marijuana. The bill has listed several qualifying medical conditions and symptoms. Patients suffering from these medical conditions can access medical marijuana products after receiving approval from qualified doctors. A doctor can only prescribe marijuana products after all the other methods have been exhausted.
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?
