As more and more states begin to legalize marijuana while its medicinal benefits are being more widely used, the cannabis industry has become a hotbed of investment opportunities. Here are four things that you need to know if you are considering investing in the cannabis industry.
Legislators passed a bill on Sunday that authorizes the recommendation of medical marijuana for additional conditions and allows any state-licensed physician to recommend medical marijuana.
The bill, HB 819 by Rep. Larry Bagley R-Stonewall, went before a House concurrence on Sunday where it passed 74 - 16. The amendments from the Senate were also concurred in.
Senate President Page Cortez then signed the bill, which now heads to Gov. John Bel Edwards to be signed into law.
New York City, where I and 8.5 million others live, used to be the worst city in the United States to be caught with cannabis. This is no exaggeration.
The cannabis industry will need to pivot a greater proportion of its workforce towards more autonomous models.
California cannabis taxes generated nearly $135 million during the first quarter of 2020, which is $42.4 million less than the state’s 2019 first-quarter cannabis tax revenue.
Several Canadian companies, which are licensed producers of cannabis, are leaving the Jamaican market due to stalled governmental decisions on export licenses.
Forbes magazine reported yesterday that even if the Jamaican government were to expedite the issuance of export licenses, the global market is extremely limited and the slight amount of export was only permitted for medical research and development which does not add up to any genuine marketable or profitable volume.
Oregon farmers grow a lot more cannabis than Oregonians consume, and what happens to the excess depends entirely on what kind of grower you happen to be.
In the legal market, licensed companies are currently sitting on a surplus of roughly one million pounds, enough to keep the state stoned at current levels for six years. Meanwhile, Oregon’s illicit growers just keep doing what they’ve always done, supplying unlicensed cannabis to appreciative consumers in states where a combination of restrictive laws and poor climate make for a net cannabis deficit.
At least one large credit union, Vermont State Employees Credit Union, already provides lending services to a half-dozen medical marijuana dispensaries in Vermont, said Joe Bergeron, the president of the Association of Vermont Credit Unions. But for most of the Vermont institutions in the typically risk-averse world of business lending, passage of the SAFE Act is needed before it makes sense to enter the growing world of medical marijuana.
Practically overnight, the COVID-19 pandemic achieved for cannabis what decades of lobbying and lawmaking have not: legitimacy as an essential business sector.
Many in the industry were hopeful they also could attain something else sought for decades—access to banking services. But now that Senate Republicans and the President have publicly opposed the U.S. House’s HEROES Act, there’s little chance stakeholders will see these benefits soon.
