You hear that? That’s the sound of the beginning of a big rebound in marijuana stocks. Over the past few trading days, the ETFMG Alternative Harvest ETF (NYSEARCA:MJ) is already up nearly 5%, representing one of biggest upward moves the beaten-down ETF has staged over the past year.
The Alabama state legislature just advanced a bill allowing medical marijuana to be prescribed for up to 15 conditions, the Associated Press (AP) reports from Montgomery.
An audience reportedly applauded before Alabama’s Senate Judiciary Committee when it voted 8-1 for the bill, allowing it to head for the Senate floor for a vote.
As lawmakers are poised to pass a package of bills to aid the struggling agriculture industry, hemp farmers want something to help their industry too.
Members with the Wisconsin Hemp Alliance are asking state lawmakers to consider legislation to expand research and innovation for hemp fiber.
Legalization’s onward march into the mainstream means that more gardeners than ever can grow some cannabis. Michigan and Illinois added medical marijuana cultivation rights this year. Oklahoma is in the midst of a legal medical genetics boom. The list goes on and on. Adult-use cannabis is legal in 11 states and more than 30 states have medical marijuana laws. Check your state’s cultivation rules here.
California voters legalized pot in 2016. But for many seeking jobs in state government, cannabis use has become an obstacle to getting hired.
Now, a spike in the number of job applicants disqualified by state agencies after failing tests for marijuana use has spawned calls for new legislation and debate over whether employment rules should be relaxed given more widespread acceptance of the drug.
The proposed medical marijuana bill that would raise patient caps for doctors and clarify that private employers don’t need to allow marijuana use received a favorable recommendation from a Senate committee Tuesday.
Cannabis companies are using a loophole in Colorado’s strict limits on marijuana advertising by sponsoring state highways and putting their names on roadside signs.
Medical marijuana could get a vote on the Kentucky House floor as soon as this week.
Last Wednesday, HB 136 passed out of the House Judiciary Committee on a 17-1 vote. However, the bill got some criticism - from both opponents and supporters.
Rep. Kimberly Moser voted against the bill because she wants more studies done on the effects of medical marijuana.
Last year was supposed to be when the cannabis industry demonstrated to Wall Street that it was deserving of its lofty premium and could become profitable on a recurring basis. Of course, hindsight being what it is, we know that didn't happen. Instead, marijuana stocks actually logged their worst year to date.
The week ended on a high note for Canopy Growth (CGC).
