Business

Investors are buying up warehouses and retail space in cannabis-friendly states. 

Because advertising is strictly limited, cannabis giants do not enjoy the advantage of an out-sized marketing budget the way national beer brands do.

Only the craftiest producers will survive Canada’s sluggish market for recreational cannabis.

Licensed producer Tilray, with a production facility in Nanaimo, has confirmed it is cutting staff by 10 per cent, about 140 positions. Aurora Cannabis, with operations in Pemberton and Whistler, ousted its CEO along with 500 staff last week.

Aurora Cannabis (NYSE:ACB) is scheduled to report its results for the second quarter of fiscal 2020 on Thursday before the market opens. In the last two weeks, the company delivered disappointing news. Last week, Aurora Cannabis discussed unaudited preliminary results for its second-quarter earnings. The results weren’t positive news. Let’s see what analysts said about its fourth-quarter earnings.

While the stock market is still focused on the large Canadian cannabis LPs listed on major U.S. stock exchanges, several U.S. multi-state operators (MSOs) are set to shock the market with industry leading positions. These companies are set to combat the Canadians for the largest operations without the help of major investments or even Federal approval of cannabis.

With a new decade upon us, the cannabis industry has found itself in somewhat of an awkward spot. This isn’t necessarily a bad thing; it just goes to show that progress is never one solid line toward growth.

As a business advisor, I’m often asked about the fast-growing cannabis industry, so I always keep my finger on the pulse. While some elements of the industry are taking off, others are still lagging behind or even regressing.

In this guide, I'll cover a few of the cannabis trends that I'm paying attention to in the coming year.

Premier Doug Ford’s government said it is considering allowing cannabis lounges and cafes as it moves toward an open market for pot in the province, and is asking the public to weigh in on the proposal.

The government said Monday it will consult on the possibility of so-called “consumption venues” as well as special occasion permits that would apply to outdoor festivals and concerts.

In a posting on its regulatory registry, which closes March 10, the government said it wants to hear from the public before committing to any direction, and gave no timeline to make changes.

Two major producers have slashed staff lately and it’s seen ‘virtually certain’ that others will follow

Cannabis companies are “between a rock and a hard place” when it comes to job cuts, one analyst believes, because it might be hard for them to figure out how and where to reduce operational expenses since they’re operating in a rapidly evolving industry.

“Sure, if you had a time machine, you could go back and say, ‘I think I over-hired and I shouldn’t have done that,’” said Andrew Carter, a cannabis analyst at Stifel Financial Corp.

According to a 2018 NBC News story, more than 77 tons of weed is consumed in New York City per year, making New York City and the Greater New York area among the biggest cannabis markets in the world — this is despite not having legal retail outlets. 

High Green News is proud to feature Emma Andrews, an inspiring leader in the industry, as an MVP.

Emma Andrews, Chief Commercialization Officer at BevCanna, RHN, NPDP, spoke recently at the Lift Conference in Vancouver on the future of social consumption. With a background as a food and beverage nutritionist and in product development, her interest in health and wellness fits seamlessly with what BevCanna stands for.  

How many jobs are there in the legal marijuana industry? Leafly’s annual Cannabis Jobs Report found 243,700 full-time-equivalent (FTE) jobs supported by legal cannabis as of January 2020.

That’s a 15% year-over-year increase. Over the past 12 months the expanding industry has created 33,700 new jobs nationwide, making legal marijuana the fastest-growing industry in America.