As the economy continues to reopen, make sure you follow these steps to ensure survival.
In today's rapidly changing economy, there is a lot of discussion about best practices to successfully emerge from the initial impact of the recent COVID-19 crisis.
In recent years, global medical cannabis markets have continued to expand as research and public opinion of the plant has evolved. Now, much of Europe has at least partially legalised cannabis for medical use. But there is one European country that has seen the lion’s share of investment in the sector, thanks to its progressive medical cannabis model – Germany.
The cannabis market in Illinois has shown tremendous potential. The state legalized recreational cannabis in January. In the first two months, there was a surge in sales. However, the COVID-19 pandemic hit. Luckily, Illinois deemed cannabis as an essential item amid the pandemic, which didn’t hamper sales. The state recorded drastic sales in April and May. However, there are still some challenges for the cannabis market in Illinois.
Aurora Cannabis (ACB.TO)(ACB) plans to close five facilities, lay off roughly 700 workers, and expects a $60 million charge in the coming quarter, the company said Tuesday.
The Edmonton-based cannabis producer said the moves are part of its business transformation plan announced in February, which resulted in the loss of about 500 jobs at the time and a $1 billion writedown.
Canopy Growth (NYSE:CGC) CEO David Klein has a "magic number" in mind for when the U.S. will legalize cannabis. In an interview with CNBC's Jim Cramer last week, Klein said that he expects cannabis will be legalized at the federal level in the U.S. in 2022.
A Los Angeles City Council committee Tuesday approved a series of changes to reset the city’s troubled legal marijuana market, including bolstering programs intended to help operators who suffered during the nation’s long-running war on drugs.
Los Angeles was once seen as a potential showcase for the industry, but that has never squared with the reality on the street: illegal shops continue to flourish, while licensed companies complain that just about everything costs too much and takes too long when dealing with City Hall.
The state’s growers are sitting on a pile of surplus from the 2019 season, while they desperately wait for rules to guide the industry going forward.
For New York’s hemp industry, it’s almost as if 2020 is turning out to be the year that never was.
In many ways, 2019 was a boon for New York’s hemp farmers. The 2018 Farm Bill legalized hemp, or low-THC cannabis, and the market for hemp-derived products exploded across the state.
In March, Canadian cannabis sales hit a new record with sales of 181.1 Canadian dollars, as reported by Statistics Canada. Concerns about the shortfall of cannabis due to the COVID-19 outbreak led customers to pile up their inventories. As a result, there was a sharp rise in marijuana sales.
The cannabis industry has been a beneficiary of the COVID-19 pandemic as consumers have been purchasing more cannabis than prior to the outbreak. Several states still have restrictive policies in place for restaurants, bars, gyms, and shopping malls. The closures and the limitations have made it easier for people to stay inside and this is a trend that we expect will benefit the cannabis industry over the next year.
