Business

Pennsylvania is deep in the red, and the culprit is COVID-19. But if the federal government can’t save the state, can marijuana?

That’s what the Keystone State appears poised to try. If it does, the state might need to prepare to be disappointed.

Gov. Tom Wolf imposed strict social-distancing measures in March to smash the novel coronavirus, and while it worked—Pennsylvania’s rate of new infections is among the lowest in the United States—it came at great cost.

These pot stocks are short on hype and strong on revenue

Investors searching for marijuana stocks to buy are looking to get green. So how can investors identify stocks that will “get green?” From investors’ perspective this should likely relate to price appreciation. However, there is no exact formula for price appreciation. But there are fundamental, technical and other indicators which catalyze stocks to rise in price. From my perspective that means sales, deal making and execution of strategic vision are the factors which most strongly predict success. 

From getting to know your target audience to adhering to strict state regulations, Ashley Grace, founding CMO for Charlotte’s Web, outlines his top branding strategies.

The ongoing COVID-19 pandemic has certainly put a strain on many businesses, and while the cannabis industry has fared better than most after being deemed an essential business in many states’ shutdown orders, cannabis and hemp businesses are not immune to challenges stemming from the coronavirus crisis.

Amidst the COVID-19 pandemic, a new report expects Canada’s recreational marijuana industry to double revenues this year and grow more than 500% by 2025. This should be good news for cannabis ETFs, many of which are far off their highs.

In October 2018, Canada became the second country to make recreational cannabis legal nationwide. This sparked a huge rally in cannabis stocks, such as Canopy Growth (CGC) and Tilray (TLRY). It also sent ETFs focused on the cannabis industry surging. 

Very simply, marijuana legalization is not some wild experiment that has never been done before. And now, of course, we are beginning to see the same experience in some places in the United States.

In the midst of the pandemic, there is much uncertainty about almost everything, but one thing does seem certain: America is going to be much poorer. Or, to put in a global perspective, America and a few other countries will be much less rich and the rest of the world will be much, much poorer, and no wall or welfare program will protect us.

Bills focused on a state bank, delivery, and curbing the illicit market failed to make it through this legislative session.

While Californians voted to legalize cannabis four years ago, lawmakers continue to debate and tweak regulations for the world’s largest legal cannabis market. 

This year, COVID-19 caused legislative delays from coast to coast. Some states’ legislative sessions ended early, while lawmakers in other states were forced to shift focus to discussions about coronavirus-related bills. 

A pair of in-house lawyers with high hopes for legal cannabis products are moving up in the C-suite, while a longtime health and fitness industry legal chief has found a home in the legal weed space.

The California Department of Tax and Fee Administration reported today that cannabis legalization and taxation in the state came in the nick of time. Just when the state is under extreme fiscal pressure, cannabis is pulling through: Cannabis tax revenues in the second quarter soared 32.6% from a year ago, to another record of $208.4 million (not including revenues collected by cities and counties). And this during the Pandemic!

The FDA announced it is hiring a third-party contractor to test CBD “and related cannabinoids” for the agency.

The Food and Drug Administration has posted notice for a contractor to test CBD “and related cannabinoids.” The announcement comes less than a month after the agency called for public comments on its guidance for cannabis-derived pharmaceutical research.

One of the biggest threats facing CBD companies? Survival. CBD is already projected to hit over $16 billion in sales by 2024, so it's not surprising that there are over 3,000 brands in the market, hoping to ride the wave of success and reap the rewards.