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.
With public support for marijuana legalization at an all-time high, and more athletes using cannabis to treat pain, the four major U.S. sports leagues are reducing restrictions and punishments — though the NBA lags behind the other three.
Marijuana legalization is a hot top topic in the US as the presidential 2020 election gets closer. Legalizing recreational cannabis is a priority for Connecticut in 2020. Recently, the state mentioned that it’s ready to pass the legalization bill. Neighboring states’ stance on marijuana legalization pushed Connecticut’s steps forward.
The U.S. hemp market continues to heat up for a variety of reasons, mainly because the general populace is finally starting to understand the difference between cannabis as marijuana and cannabis as hemp (and the benefits of CBD and other cannabinoids derived from cannabis). In this post I’ll discuss why China’s pain can be U.S. hemp producers’ gain.
