Only a week after Brazil came out with medical cannabis regulations, another Latin American nation has taken a step forward in the marijuana space.
A lack of profitability is what makes investing in cannabis very risky. That's why selecting stocks that have been profitable recently is a good way for investors to minimize their overall risk exposure in the industry. A cannabis company that's able to hit breakeven is already several steps ahead of many of its peers.
Things are finally brightening for the Canadian cannabis industry, but don’t expect it to show up in companies’ results anytime soon.
This week marks the earliest that newly legal formats including vapes, edibles and beverages can hit store shelves, although very few products will be available until early 2020, according to companies and provincial wholesalers.
“We do grams, eighths, quarters, half ounces, pounds, wholesale pounds — however you want it,” Jacob Stretch said, standing between crates of dried hemp in his living room that doubles as his hemp processing and drying facility. Stretch, owner of Chesapeake Blue, just finished his first season growing industrial hemp as a registered grower and processor on his family’s farm.
American investors can now turbocharge their cannabis bets with a new juiced-up exchange-traded note.
The MicroSectors Cannabis 2x Leveraged ETN, which began trading Wednesday under the ticker MJO, is the first of its kind in the U.S. It will charge 95 basis points — or $9.50 for every $1,000 invested — according to regulatory documents.
Due mainly to legal reforms at the state level, 2019 legal cannabis sales are expected to generate over $10 billion in revenue. Products ranging from buds, oils, and tinctures are increasingly being used medicinally to treat chronic pain, cancer, terminal illness, and some stress-related mental disorders. Recreational use is becoming legal in a growing number of states.
Bankruptcy and the CSA
This year has been momentous for cannabis reform, from the Illinois General Assembly becoming the first state legislature to pass a bill to regulate cannabis like alcohol to the U.S. House of Representatives passing the SAFE Banking Act and forging ahead with the MORE Act.
It’s important to celebrate these victories, but with the end of 2019 comes the beginning of 2020, which is already shaping up to be the biggest year ever for marijuana-policy reform.
U.S. hemp sales could increase as much as $25 million in 2020 and by more than $100 million by 2022, according to new estimates by the U.S. Department of Agriculture (USDA).
These estimates are some of the figures outlined in Hemp Industry Daily’s new special report, “USDA Hemp Rules: A Handbook for Hemp & CBD Businesses.”
OTTAWA - Canadians spent about $908 million on non-medical cannabis in the first year since legalization, but online sales dropped as more brick-and-mortar locations opened, said Statistics Canada.
Canadians spent $907,833,000 on non-medical cannabis between October 2018 and September 2019, the agency said, which works out to $24 per capita.
Canada legalized cannabis on Oct. 17, 2018, becoming the second country in the world — after Uruguay — to legalize the drug. Demand initially appeared to outstrip supply as retailers warned of a pending shortfall of product.
If you listen carefully, you will hear the sound of a crooked foundation known as marijuana prohibition starting to crumble in the United States. It has been more than eight decades since the federal government outlawed the cannabis plant nationwide, and yet, here we are finally standing on its lawn with torches in hand waiting for a day of reckoning.
