In 2019, the illegal market for cannabis eclipsed the legal one by a rate of about 3 to 1. Roughly 75% of sales in California were under the table, which is a huge hindrance for statewide efforts to boost legitimate businesses and collect taxes. 2020 will be a make or break year for California's legal weed market.
It shouldn't take very long for things to get interesting for marijuana stocks in 2020. There are plenty of potential catalysts that could be on the way, both in Canada and in the U.S.
DENVER — In a large warehouse, LivWell Enlightened Health feeds its cloned cannabis plants a custom blend of nutrients, sprays them with filtered water and pumps extra carbon dioxide into the air. LivWell releases three types of insects to clear the plants of unwanted pests without the use of toxic pesticides.
Every part of the growing process is meticulously documented and evaluated to constantly refine the process.
The new year is off to a profitable start in Illinois, where the state's marijuana shops brought in nearly $3.2 million on the first day of legal sales. The sales come after Governor J.B. Pritzker delivered on a top campaign promise in June, when he signed legislation to legalize small amounts of marijuana for recreational use at the start of 2020.
More legalization in more states. More product liability risks. More regulations. More M&A.
More of many things is what insurance professionals involved in the cannabis industry can expect in 2020.
Insurance Journal asked four experts watching the cannabis and insurance space – an expert from an insurance advisory organization, an attorney who represents insurers, a marijuana legalization advocate and a wholesale broker – for their top three predictions for the year ahead.
The most important prediction as far as IJ readers are concerned?
In 2019, legal cannabis sales jumped 32% since 2018, Illinois became the first state to legalize cannabis via legislation and the U.S. House of Representatives passed the SAFE Banking Act, a first step toward opening banking services for the industry.
Of course, the news wasn’t all rosy. Stock prices fluctuated and a cash crunch hampered growth and expansion. New York and New Jersey failed to lift prohibition. But these can be viewed as growing pains for an emerging industry. As we head into 2020, here’s a look at what’s ahead for the industry.
Recreational marijuana use became legal in just one more state, Illinois, with the start of the New Year on Wednesday. More states could follow suit in 2020, with several states set to put recreational marijuana on the ballot. Cannabis is still considered an illegal substance at the federal level.
Don't think for a second that just because many marijuana stocks performed miserably in 2019 that there weren't any big winners. One key to finding those winners is to focus on U.S.-based stocks rather than on the stocks of Canadian cannabis producers.
The three best U.S. marijuana stocks of 2019 delivered gains of 45% or more. Here's which stocks ranked at the top -- and whether they're smart picks to buy now.
Welcome to The Week in Weed’s look back at the news of 2019; whether the year has flown by or seemed to last forever, it’s (almost) over now. In tribute to Dave Barry and his always hilarious Year in Review, we’ll organize these stories by month.
Without further ado, here’s a look at the stories that grabbed our attention in 2019.
Should that marijuana joint cost more because it is higher in THC content? That’s the argument put forth in a new report by the California Legislative Analyst’s Office.
Currently, the state taxes cannabis at two points in the production cycle; cannabis is taxed by weight after it is harvested, and then taxed again as an excise tax at the retail level. The state is set to increase cannabis taxes at both levels on Jan. 1, 2020.
